Counter-fraud

LONDON (Reuters) - Britain should allow law enforcement authorities to pay for key evidence to incentivise whistleblowing and speed up white-collar crime probes, the head of the UK's fraud watchdog said on Tuesday.

Nick Ephgrave, the director of the Serious Fraud Office (SFO), said he wanted the agency to deal with cases more quickly under his leadership.

After a year where Brits were on track to lose over £1bn to scammers, the consumer protection tide may be finally turning, according to an experienced fraud prevention expert.

Throughout 2023, scams involving holiday bookings, online romance, courier deliveries, fake online retailers, and even HMRC tax returns have dogged UK households.

https://www.itv.com/watch/news/stop-think-fraud-government-launches-anti-fraud-campaign-to-help-protect-people-from-crime/0kbc359

A major campaign to transform the fight against fraudsters has been unveiled by the Home Office.

Launched on Monday (February 12), Stop! Think Fraud is backed by leading counter-fraud experts to provide “consistent, clear and robust” anti-fraud advice to the public.

City of London Police, the national lead force for fraud, hopes it will generate a much greater understanding of what has become the most prevalent crime in the UK.

Stop! Think Fraud, the National Campaign Against Fraud, launches today.

A major campaign to transform the fight against fraudsters launches today (12 February 2024).

Stop! Think Fraud is backed by leading counter fraud experts who are uniting under one voice to provide consistent, clear and robust anti-fraud advice to the public.

The evolving landscape of fraud in the financial sector demands a proactive approach to security. As criminals constantly refine their tactics to exploit vulnerabilities, the importance of predicting the trajectory of fraud and understanding the dynamics of KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations becomes critical for building robust defences.

https://www.finextra.com/blogposting/25636/navigating-the-fraud-landscape-6-predictions-for-the-year-ahead

Sussex volunteers who help fraud victims were voted as runners-up for a national award.

The volunteers, who are part of the Sussex Volunteer Fraud Prevention Programme set up by Police Constable Bernadette Lawrie BEM, came second place at the national Lord Ferrers Awards in October last year.

A scam is when someone tries to take your money by pretending to help you, or by offering you something which they are not going to give you.

The symbol 'i' meaning find information

If someone pretends to help you, they might ask you for information which can help them to try to take your money.

In 2023, two events in the regulatory world were of particular note. The first, in August 2023, concerned the largest-ever money laundering investigation in Singapore, where the Singapore authorities arrested 10 individuals and seized over $2.1bn of assets in the city-state. The second followed in November 2023, when the US Department of Justice announced that a fine of $4.3bn had been levied on cryptocurrency exchange Binance for its failure to comply with relevant regulations.

https://www.financierworldwide.com/whistleblower-programmes-the-why-and-the-how

When it comes to preventing corporate fraud and corruption, it is important to move on from ‘old-fashioned’ perspectives and techniques. Using the full range of available anti-fraud tools will be an important factor in designing an effective compliance programme, but this article will make the case for the often-overlooked ‘je ne sais quoi’ of what makes a compliance programme truly effective in preventing corporate fraud and corruption. Supporting and bringing focus on values and corporate culture is equally, if not more, important than any modern tool in reducing the risk of corporate fraud and corruption.

https://www.financierworldwide.com/the-je-ne-sais-quoi-of-preventing-corporate-fraud