Law and the Justice System

Imagine a world in which the police, lawyers and cryptocurrency exchanges worked harmoniously together, in aid of the victims of crypto scams…well…

In a groundbreaking case, the collaborative efforts of police, lawyers, and cryptocurrency exchanges led to the successful recovery of stolen life savings for an elderly, vulnerable victim. This success story showcases the power of innovative thinking and cooperation in the fight against cryptocurrency fraud.

A FRAUDSTER described by a judge as the most “fundamentally dishonest” man he had ever seen has been ordered to repay just £16,700 after conning his victims out of more than £620,000.

In January, Darryl Evans was jailed for a total of eight years, having been convicted of 26 charges of fraud and one charge of theft.

The emotional impact of online fraud for victims is worse than the financial hit, even when the loss was tens of thousands of pounds, according to new findings from a study speaking to victims of online fraud.

The new report from Crest Insights, funded by the Dawes Trust and in partnership with Birkbeck University and the Police Foundation, was based on a series of one-to-one interviews with victims of different types of fraud such as bank, identity, and romance fraud and, as well as focus groups with members of the public.

https://policeprofessional.com/news/emotional-toll-on-fraud-victims-worse-than-financial-impact-research-shows/

A couple from Oxfordshire, who lost their life savings in an investment scam, say they were confident they had made all the necessary checks.

Marilyn Hamblin and her husband Gareth have been trying to get to the bottom of what happened to their money.

Six years ago they were looking for somewhere to put their savings to try to increase their pension pot.

The cost of fraud in the UK more than doubled to £2.3bn in 2023, according to BDO’s ‘FraudTrack’ report, with the number of reported cases rising by 18 percent to a three-year high.

Employees can commit fraud in a wide variety of ways, including dishonest sales practices, hiding important information from consumers or investors, and dishonest practices in financial markets. Individuals, other organisations or the taxpayer may end up defrauded and out of pocket as a result.

The question for organisations is how to defend against this ongoing tsunami of fraudulent activity.

Claire Hills, a Director at bennettbrooks, outlines the requirements of the new economic crime legislation.

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) was granted Royal Assent on 26 October 2023. There has been widespread press coverage on some of the other ECCTA provisions such as new Companies House enforcement powers (along with increased filing fees to pay for them), verification of directors’ identity and increased accounts disclosure. However, it also contains a new groundbreaking measure: ‘the Failure to Prevent Economic Crime” criminal offence which will render large companies liable for fraud committed by their employees where the fraud was committed with the intention of benefitting the organisation or those to whom it provides services. We consider the offence and implications for businesses.

Independent Review of Disclosure and Fraud Offences

Part 1: Disclosure - April 2024

1. In October 2023, the Home Secretary appointed me to undertake an Independent Review of Disclosure and Fraud Offences. I was asked to undertake that review in two parts and since that time I have been focussed on Part 1 which relates to the criminal disclosure regime.

2. In these preliminary findings, I shall outline the themes that have emerged from the evidence gathering phase of my review, and which I intend to develop in my final report to the Home Secretary. In addition, I have begun the process of seeking to identify measures which might improve the way in which the disclosure process operates.

LONDON (Reuters) - Britain will crack down on online scams and make platforms that make money from advertising financial products more accountable, financial services minister John Glen said on Wednesday.

https://uk.news.yahoo.com/finance/news/britain-crack-down-online-fraud-163708935.html

Former subpostmaster and campaigner Alan Bates has said he will pursue private prosecutions against those responsible for the Horizon IT scandal if the inquiry does not pass a file to prosecuting authorities.

The inquiry resumed this week with Mr Bates giving evidence and on Friday he told the Times he would be willing to crowdfund criminal action against those responsible at the Post Office.

Six years on from the UK government introducing Unexplained Wealth Orders as a new law enforcement tool to combat ‘dirty money’, Commercial Litigation and Fraud partner Pia Mithani spoke to City AM’s Ben Lucas about their relative lack of use by the UK’s authorities to date.

https://www.stewartslaw.com/news/why-are-uwos-so-unpopular/