Counter-fraud

The government has launched a review of the whistleblowing framework

https://www.gov.uk/government/news/government-reviews-whistleblowing-laws

When considering fraud from a business perspective, it is important to assess the breadth of use cases available to fraudsters. As businesses globally continue to move toward a digital-first approach, significant challenges accompany the opportunities on offer. According to the World Economic Forum, revenue estimates from illegal activity sit at between 2-5% of global GDP, at around $2 trillion USD.

https://www.smeweb.com/2023/03/14/top-tips-to-prevent-sme-fraud/

Legal experts are expecting the enactment of a series of new anti-fraud measures this year, particularly via the economic crime and corporate transparency bill. What effect will this have on British businesses?

https://www.raconteur.net/risk-regulation/what-does-new-anti-fraud-regulation-mean-for-uk-plc/

Pension scams are on the rise. A survey by pension provider Scottish Widows found 18% of men had been targeted at least once by scammers, and 28% of savers are anxious about falling victim to fraud.

https://www.itv.com/thismorning/articles/alexis-conrans-top-tips-to-avoid-pension-scams

As a recession looms, fraud is widely expected to proliferate. A key challenge for businesses is to keep the criminals at bay without also repelling their customers

https://www.raconteur.net/risk-regulation/fraud-is-your-firm-ready-for-the-downturn-upsurge/

Even as biometric authentication becomes more commonplace as a secure option, it still faces the same security threats as other measures.

https://www.digit.fyi/25-of-uk-businesses-affected-by-biometric-fraud-in-2022/#.ZAG-SWltARo.twitter

UK Finance's Take Five to Stop Fraud campaign is aiming to raise awareness among the over-65s with a new 'scam bingo' game.

https://www.finextra.com/newsarticle/41893/eyes-down--remember-to-take-five-uk-finance-launches-scam-bingo-game

Changes in people’s shopping habits caused by the the cost-of-living crisis could create opportunities for fraudsters, according to internet safety website Get Safe Online

https://uk.news.yahoo.com/fraud-warning-cost-living-crisis-000100756.html/

Investors’ inherent recognition of a bad situation helped to thwart £2million in investment scam losses during 2022; latest regulator research indicates.

https://thefintechtimes.com/the-red-flags-of-investment-scams-are-becoming-more-obvious-fca-puts-forward/

The volume of Midlands fraud cases of more than £100,000 heard in courts in 2022 reduced year-on-year but the overall value rose substantially, according to the latest KPMG Fraud Barometer.

https://www.insidermedia.com/news/midlands/value-of-midlands-fraud-cases-rises-despite-fall-in-volume-kpmg