Private Sector

Evidence of their mass abuse of British companies has been accumulating for years

Companies that fail to protect themselves effectively from cyber-attacks will face fines of up to £17m, the government has announced.

http://www.bbc.co.uk/news/technology-42861676

58% of Small and Medium sized Enterprises (“SMEs”) believe that the impact of modern-day payments fraud on their business would be minimal and that they would lose only a small amount of money

https://www.finextra.com/pressarticle/72302/vocalink-publishes-small-business-fraud-report/retail

The Financial Conduct Authority (FCA) has launched a consultation on plans to give more small businesses access to the Financial Ombudsman Service (FOS).

https://www.insuranceage.co.uk/regulation/3228901/fca-consulting-on-widening-access-to-fos-for-smes

A finance director who took £10,000 from an architectural firm has been given a 16-month prison sentence, suspended for two years.

http://www.bbc.com/news/uk-england-norfolk-42819834

The woman worked in the accountants department at the Camden Group

https://www.shropshirestar.com/news/crime/2018/01/23/telford-woman-jailed-for-stealing-23000-from-employers/

A employee was suspended and left the company in November 2016. He pleaded guilty of these charges on 3 November 2017 and was sentenced to 34 months in prison on 19 January 2018.

https://www.insuranceage.co.uk/broker/3228931/ps500000-gallagher-fraudster-jailed-for-34-months

The forensic accountant firm appointed by the Criminal Court Review Commission (CCRC) to investigate the Horizon IT system at the centre of claims of wrongful prosecution of sub-postmasters is expected to complete its work next month.

http://www.computerweekly.com/news/252433741/Forensic-investigation-into-Post-Office-IT-system-at-centre-of-legal-case-nears-completion

Companies are starting to embrace ethics and compliance as a positive force to build sustainable financial growth – which is the true calling of a robust ethics and compliance program

https://blog.volkovlaw.com/2018/01/five-major-compliance-predictions-2018/

Insolvency practitioners play key role in combating this costly crime

https://www.begbies-traynorgroup.com/news/firm-news/panorama-investigation-highlights-fraud-in-the-uk-bankruptcy-system