Counter-fraud

Organisations lose an estimated 5% of their revenue to fraud every year, according to the Association of Certified Fraud Examiners (ACFE).

https://www.icaew.com/insights/sponsored-content/fraud-on-the-rise-what-you-can-do/access-the-article/fraud-on-the-rise-what-you-can-do

Protecting the public from the meteoric rise of fraud needs to be an absolute priority for the new government. Our law enforcement agencies are grappling with scarce resources, and Sunak must take note of this salient point. The lack of investment and resourcing in fraud enforcement, perhaps above anything, has been one of our government’s greatest failures and continues to be a black-mark on our country’s reputation as a ‘leading figure’ in the fight against international corruption and economic crime.

https://www.cityam.com/letters-wake-up-and-smell-the-fraud/

The International Chamber of Commerce United Kingdom (ICC UK) is pushing banks and authorities to accelerate adoption of digital tools for fighting trade finance fraud, estimating that illicit activity such as double financing could cost the industry up to US$5bn per year.

https://www.gtreview.com/news/global/icc-urges-action-on-digitisation-in-wake-up-call-over-fraud/#.Y1GMUbuMGz0.twitter

The risk of a UK recession is nearing, and economic fraud could be on the rise too. To combat this, new government bills could change laws for the better

https://www.openaccessgovernment.org/uk-is-on-the-brink-of-recession-will-fraud-be-on-the-rise/145937/

UK Finance has released its latest fraud report covering the first half of 2022. This report shows that while the end of the pandemic has seen a fall in overall fraud losses, some fraud types have increased as criminals continue to adapt their methods. The organisation noted that the drop was partially due to H1 21 being an exceptionally high period for fraud, rather than the start of a downward trend.

https://www.smeweb.com/2022/10/17/fraud-should-be-considered-a-national-security-threat/

Whistleblowing reports to HM Revenue & Customs went up by 70% in the past two years, according to a Freedom of Information request made by law firm Pinsent Masons.

https://www.personneltoday.com/hr/tax-fraud-whistleblowing/

Colin Gray, Principal Fraud Consultant at SAS UK, looks at the technologies that can help governments fight fraud since the Energy Bill Relief Scheme came into force

https://www.openaccessgovernment.org/energy-bill-relief-scheme-freezing-out-the-fraudsters/145527/

Consumers and businesses are facing numerous threats as fraudsters deploy new and sophisticated scams to part people from their digital identity and money.

https://www.finextra.com/blogposting/22948/how-businesses-and-customers-can-mitigate-new-fraud-threats-in-2022

Investment fraud is surging due to the fact that immediately after the commercially crippling pandemic lockdown, the war in Ukraine has rapidly driven up the cost of living. The difficult commercial landscape where profits are rapidly dropping creates fertile ground for investment fraud where the target is initially promised unrealistic returns on their investment.

https://www.giambronelaw.com/site/news-articles-press/library/articles/how-to-avoid-investment-fraud-things-to-look-out-for

Although whistleblowing is often represented as huge scandals in the media or on TV, it is often not quite as dramatic in reality. The majority of whistleblower cases are handled internally and concern the incorrect treatment of employees or negative working conditions. However, there have been huge scandals that have occurred at very large corporate companies. Scandals that could have been prevented with the help of whistleblowing. In this post, we therefore take a closer look at 3 occasions that whistleblowing could have made a difference.

https://www.riskcompliance.biz/news/three-examples-where-whistleblowing-could-have-made-a-difference/