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Hack and payback
The urge to retaliate wheninjured is strong but there are practical, and legal, reasons to exercisecaution – and alternatives – in the case of cyberattack, finds Rose Pengelly.With cyberattacks on the rise, organisations arehaving to devote ever..
Online Published Date:
19 July 2022
Appeared in issue:
October/November 2022 - 05 August 2022
SEC charges 11 in US$300m crypto pyramid scheme
By Sara Lewis
Online Published Date:
05 August 2022
Appeared in issue:
October/November 2022 - 05 August 2022
PwC fined UK£1.75m for audit failings over BT Italy fraud
The British accountancy regulator, the Financial Reporting Council, has fined PricewaterhouseCoopers (PwC) UK£1.75 million (US$2.11 million) and PwC partner Richard Hughes UK£42,000 (US$50,681) for failings in auditing UK£513 million (US$619 million) in adjustments that telecoms giant BT made in its 2017 accounts to allow for a massive fraud discovered in Italy in July 2016.
Online Published Date:
09 August 2022
Appeared in issue:
October/November 2022 - 05 August 2022
Distrust, bias and incompetence: how two UK Serious Fraud Office investigations went badly wrong
The highly anticipated reports into Serious Fraud Office (SFO) failings in its Unaoil and Serco investigations, by Sir David Calvert-Smith [1] and Brian Altman QC [2], respectively, were published on 21 July [2022]. As Lisa Osofsky, Director of the SFO, observed, they make for “a sobering read”. Shula de Jersey and Matt Davies of BCL Solicitors examine the findings.
Online Published Date:
22 August 2022
Appeared in issue:
October/November 2022 - 05 August 2022
Cryptocurrency fraud falls with price drops, says new report
Rates of cryptocurrency fraud are running at 65% less than a year ago, according to a new reportfrom blockchain data platform Chainalysis.
Online Published Date:
26 August 2022
Appeared in issue:
October/November 2022 - 05 August 2022
Cryptocurrency fraud falls with price drops, says new report
Rates of cryptocurrency fraud are running at 65% less than a year ago, according to a new reportfrom blockchain data platform Chainalysis.
Online Published Date:
26 August 2022
Appeared in issue:
October/November 2022 - 05 August 2022
UK overseas entities register ‘riddled with flaws and loopholes’
TheUK’s new register of overseas entities (ROE) run by registrar Companies House,that went live on 1 August [2022], has come under fire over loopholes thatcould mean beneficial owners of property can still hide their identity.
Online Published Date:
02 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022
UK bounce back loan fraud hits UK£1.5 billion – admits government
Fraud (actual and suspected) under the UK Bounce Back Loan Scheme, brought in to support businesses during the Covid-19 pandemic, with lending being 100% underwritten by the government, hit UK£1.5 billion (US$1.7 billion) on 31 July [2022], official data has revealed.
Online Published Date:
07 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022
The old ones are the... worst - fraud, tried and tested
"There is nothing new under the sun": the Old Testament author of Ecclesiastes 9:1 may even have had deception for gain in mind as many high yielding strategems today are variations on themes long used; Paul Cochranelooks at which still work and why.
Online Published Date:
11 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022
A delicate balance – retailing
Too heavy an emphasis on prevention risks deterrence, not just of fraudsters but of the indispensable, honest customer. Sara Lewis looks at how the consumer sector manages an inescapable dynamic tension.
Online Published Date:
14 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022
Cross-border currents – Hungary could lose €7.5bn of EU funds over graft claims
The European Commission has bitten the bullet and for the first time imposed a major financial penalty on a European Union (EU) member state that it considers so corrupt, its handling of EU funds cannot be trusted.
Online Published Date:
21 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022
Donald Trump sued by New York AG for “years of financial fraud”
Former US President Donald Trump has been sued by the attorney general of New York over claims he and his children made false statements inflating their apparent wealth to secure millions of dollars in loans, reduced interest payments, insurance coverage tax breaks and other benefits.
Online Published Date:
21 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022
US corporate criminal enforcement to target individuals
The United States Department of Justice’s top priority for corporate criminal enforcement will be “going after individuals who commit and profit from corporate crime,” Deputy Attorney General Lisa O. Monaco announced in a policy statement made on 15 September [2022].
Online Published Date:
21 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022
The UK Bribery Act: revisiting ‘adequate procedures’
More than ten years after the legislation was adopted, we still have limited information on how the courts would treat a section 7 ‘adequate procedures’ defence against bribery charges. Steve Melrose of Bellevue Law reminds firms they must proactively re-assess their control frameworks against the Ministry of Justice Guidance.
Online Published Date:
22 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022
Shared experience - books to inform (and entertain)
Physical and online shelves are not short of white-collar crime titles but picking out those that will truly assist investigation work is not a quick task. Keith Nuthalltalked to practitioners and offers some recommendations.
Online Published Date:
22 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022
Food security - technology digest
Risk to life, let alone the practical demands of tracking criss-cross international flows of ingredients and comestibles, make urgent the search for fast, reliable ways to test and authenticate foods and drinks. Keith Nuthall, Barbara Barkhausen, Sarah Gibbonsand Kathryn Wortleyreview current initiatives and applied scientific research.
Online Published Date:
29 September 2022
Appeared in issue:
October/November 2022 - 05 August 2022