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UK Supreme Court rules commercial parties of fraudsters can also be liable
In a landmark judgement, the UK Supreme Court has ruled that third parties can be held liable for fraud in the UK if they learnt of fraudulent dealings by a company with which they were doing business and continued trading with them.
Online Published Date:
03 July 2025
Appeared in issue:
- 10 July 2025
UK fraud reviewer highlights emerging themes in update
A "growing interest" in how whistleblowers can help to catch and disrupt fraud early is noted by Jonathan Fisher KC in a progress report, published 3 July, on part two of his independent review of disclosure and fraud offences for the UK Government.
Online Published Date:
04 July 2025
Appeared in issue:
- 10 July 2025
Fraudulent trading claims expanded beyond directors
A UK Supreme Court judgment has opened the door to recoveries against a wider group of potential defendants in insolvency scenarios. Tim Carter and Lucy Trott of Stevens & Bolton explain the decision and its utility for counter-fraud purposes.
Online Published Date:
09 July 2025
Appeared in issue:
- 10 July 2025
Europol helps Spain break €460m global crypto fraud ring
The EU police office, Europol, has worked with Spanish police and law enforcement agencies from Estonia and France as well as the United States Homeland Security Investigations (HSI) to dismantle a major global cryptocurrency investment fraud ring.
Online Published Date:
09 July 2025
Appeared in issue:
- 10 July 2025
Trial by judge alone is better for serious and complex fraud - Leveson
Lord Leveson is in favour of a judge sitting alone to try "serious and complex" fraud cases. It would bring time-savings, he says, as the judge would handle all steps of the process, making decisions on admissibility, managing the trial and submissions, and benefit from full access to the evidence ahead of the trial.
Online Published Date:
10 July 2025
Appeared in issue:
- 10 July 2025
Accelerated Infiltration - a whole new level of engagement
Artificial intelligence (AI) is turbo-charging the possibilities for cyber espionage and surveillance, enabling nefarious actors to leverage technology to manipulate and steal critical data. As AI and computing power increase, are companies ready? Not yet, find Paul Cochrane & Andreia Nogueira.
Online Published Date:
14 July 2025
Appeared in issue:
- 10 July 2025
Magic numbers - inside accounting trickery
Accounting fraud can be deadly for corporations, with high profile scandals such as at Enron, Lehman Brothers, WorldCom, FTX and Wirecard evidence that cooking the books rarely ends well. Far better, find Keith Nuthall & Andreia Nogueira, that sharp-eyed auditors, forensic accountants and anti-fraud professionals spot accounting deceptions before their inevitable eventual discovery causes permanent harm to a company.
Online Published Date:
15 July 2025
Appeared in issue:
- 15 July 2025
Over 10% of EU lawmakers fail to declare meetings with lobbyists
More than 10% of members of the European Parliament (MEPs) have failed to comply with the requirement that they declare all meetings they hold with lobby groups, according to anti-corruption group Transparency International EU.
Online Published Date:
19 July 2025
Appeared in issue:
- 15 July 2025
Tom Hayes wins long battle against LIBOR-rigging conviction
The UK Supreme Court has unanimously quashed the benchmark-manipulation convictions of Tom Hayes and Carlo Palombo because instructions to the trial juries meant that their defences could not be considered fairly. A response from the Serious Fraud Office, which prosecuted the cases, stated: "We have considered this judgment and the full circumstances carefully and determined it would not be in the public interest for us to seek a retrial."
Online Published Date:
23 July 2025
Appeared in issue:
- 15 July 2025
European Commission launches EU anti-fraud system review
The European Commission is planning to overhaul the European Union's (EU) anti-fraud architecture, not only the working of bodies such as the bloc's anti-fraud and police offices (OLAF and Europol respectively) but also legislation.
Online Published Date:
24 July 2025
Appeared in issue:
- 15 July 2025
EU currents - European Commission plans anti-fraud reforms, but funding unclear
While the European Union (EU) has launched a review of its complex network of agencies charged with tackling financial crime, its proposals for a medium-term 2028-34 budget (multi-annual financial framework - MFF) do not contain explicit proposals to increase EU funding for anti-fraud.
Online Published Date:
25 July 2025
Appeared in issue:
- 15 July 2025