- Home/Publications/Fraud Intelligence
Glencore to pay UK £281m in UK fines over African oil bribery
International and Switzerland-based mining major Glencore has settled UK bribery cases brought by Britain's Serious Fraud Office (SFO), acceptinga UK£280.9 million (US$314.5 million) penalty ordered by Southwark Crown Court, London.
Online Published Date:
03 November 2022
Appeared in issue:
December/January 2023 - 29 September 2022
Benefits fraud may become 'normal' unless government acts, warn MPs
Fraud and error in the UK benefits system are "unacceptably high," say MPs.
Online Published Date:
09 November 2022
Appeared in issue:
December/January 2023 - 29 September 2022
Law Commission proposes overhaul of criminal confiscation in UK
A legislative watchdog has recommended wholesale reforms in how the UK confiscates the proceeds of crime post conviction
Online Published Date:
09 November 2022
Appeared in issue:
December/January 2023 - 29 September 2022
Long Covid: dishonest consequences
The economic crime impact of Covid-19 is incalculably greater than even the most accurate estimates of losses to wrongful claims on government support schemes: the lockdowns drove everyone online, suggesting new opportunities to gain at others' expense, whether at work remotely, perhaps merely by loaning personal credentials for a fee or as a social engineer to steal the same and access accounts. Paul Cochrane looks at the legacy effect of the pandemic on fraudulent behaviour as well as how it is affecting a specific demographic.
Online Published Date:
10 November 2022
Appeared in issue:
December/January 2023 - 29 September 2022
Dark web crypto fraudster convicted in US after US$3.36 billion bitcoin found in house
The crypto adept behind a massive Bitcoin fraud on the notorious former darknet marketplace the Silk Road, favoured by drug dealers and other bad actors, has been convicted after pleading guilty on 4 November [2022] in a New York court.
Online Published Date:
10 November 2022
Appeared in issue:
December/January 2023 - 29 September 2022
EU police and judicial agencies direct raids on crypto investment fraud gang taking ?200m per year
An international operation led by the European Union's (EU) police and judicial agencies, Europol and Eurojust, brought down the criminal gang behind a multimillion-Euro crypto investment scam.
Online Published Date:
16 November 2022
Appeared in issue:
December/January 2023 - 29 September 2022
Global endeavour - building trust in digital identity
Necessity may be the mother of invention but so is frustration. A far from smooth onboarding experience when opening online bank accounts prompted David Chadwick of Crossword Cybersecurity to develop a standard format for identity documents, currently under consideration by W3C, the World Wide Web Consortium.
Online Published Date:
17 November 2022
Appeared in issue:
December/January 2023 - 29 September 2022
Logistics tricks
Transport and freightdeliver rich opportunities for dishonesty, Poorna Rodrigo and Keith Nuthalldiscover, ranging from diversion and shrinkage through false emissions readings and adulteration.
Online Published Date:
18 November 2022
Appeared in issue:
February/March 2023 - 01 February 2023
Logistics tricks
Transport and freightdeliver rich opportunities for dishonesty, Poorna Rodrigo and Keith Nuthalldiscover, ranging from diversion and shrinkage through false emissions readings and adulteration.
Online Published Date:
18 November 2022
Appeared in issue:
December/January 2023 - 29 September 2022
UK police response: the few come out fighting
Senior members of the United Kingdom's counter-fraud police, along with the Director General of the National Economic Crime Centre, shared with the London Fraud Forum their latest strategies against the formidable threat. By Esther Martin.
Online Published Date:
18 November 2022
Appeared in issue:
December/January 2023 - 29 September 2022
UK police response: the few come out fighting
Senior members of the United Kingdom's counter-fraud police, along with the Director General of the National Economic Crime Centre, shared with the London Fraud Forum their latest strategies against the formidable threat. By Esther Martin.
Online Published Date:
18 November 2022
Appeared in issue:
February/March 2023 - 01 February 2023
Ex Theranos boss Holmes jailed for over 11 years for fraud
The former CEO of US medtech company Theranos, Elizabeth Holmes, has been sentenced to 11 years and three months' imprisonment plus three years of supervised release, after being convicted in January of four counts of fraud and conspiracy.
Online Published Date:
24 November 2022
Appeared in issue:
February/March 2023 - 01 February 2023
Outer space - risk in the metaverse
The internet already enables us to be who we're not with minimal effort, so does the metaverse offer scope for genuine innovation in deception and dishonesty or mean more of the same in an expanded fraudscape? Keith Nuthalldons a virtual headset and steps into (a) brave new world(s).
Online Published Date:
24 November 2022
Appeared in issue:
February/March 2023 - 01 February 2023
Cross-border currents - European public prosecutor scythes through casework, builds cooperation with third countries
The European Union (EU) Council of Ministers has told member states that it expects their governments to actively combat fraud in spending under the EU Common Agricultural Policy (CAP), which was highlighted in an EU Court of Auditors report, in July [2022].
Online Published Date:
25 November 2022
Appeared in issue:
February/March 2023 - 01 February 2023
Crypto fraud leaps 32% in year in UK to £226 million
The value of UK crypto fraud losses leapt 32% in a single year to hit UK£226 million (US$269.75 million) in the 12 months to 30 September 2022, from UK£171 million (US$204.1 million), according to data released by law firm Pinsent Masons.
Online Published Date:
30 November 2022
Appeared in issue:
February/March 2023 - 01 February 2023
"Corrupt" relationships prompt UK£18m fine for Julius Baer wealth managers
Julius Baer International has been penalised just over UK£18 million for a lack of reasonable care that led to senior managers ignoring "obvious signs" of "corrupt" relationships.
Online Published Date:
30 November 2022
Appeared in issue:
February/March 2023 - 01 February 2023