Counter-fraud

Whistleblowers are unveiling fraud committed by UK employers that have used the furlough scheme to make large sums of money by falsely claiming employees are on furlough.

B-North, the Manchester-based firm building an SME lending bank for the UK, has chosen Leeds based RegTech innovator, TruNarrative, to provide a full suite of customer onboarding and compliance capabilities that will enable B-North to deliver crucial business lending up to 10x faster than large incumbents.

https://www.finextra.com/pressarticle/82523/sme-lender-b-north-chooses-trunarrative-for-customer-onboarding-verification-and-fraud-prevention

Body language expert Mark Bowden spoke virtually to attendees of the 2020 ACFE Fraud Conference Europe about body language tactics for eliciting information and changing a subject's bias.

https://www.fraud-magazine.com/videos.aspx

Jonathan Fisher QC discusses the new faces of fraud arising out of the global health crisis. He distinguishes five types of fraud and provides incisive analysis on their legal consequences.

https://www.youtube.com/watch?v=Rg40IIzWPnM&feature=youtu.be

13 May 2020: the Fraud Advisory Panel is the voice of the counter-fraud profession, committed to tackling fraud and financial crime. Mia Campbell, its Head of Operations, tells ICAEW Insights how fraudsters are exploiting the coronavirus for their own gain.

https://www.icaew.com/insights/viewpoints-on-the-news/2020/may-2020/fraud-a-case-of-when-not-if

Aviva has launched an online scam reporting service in response to the influx of fraudulent activity by those exploiting the coronavirus crisis and people’s vulnerability at this time.

https://www.ftadviser.com/pensions/2020/05/12/aviva-launches-scam-reporting-service/

Almost 800 people have reported their employers to HM Revenue and Customs alleging they are fraudulently claiming money from the Coronavirus Job Retention Scheme.

https://www.personneltoday.com/hr/furlough-fraud/#.Xr0ExbWweZ0.twitter

Neural Technologies, a long-established sponsor of the Risk & Assurance Group, and a leading international provider of Revenue Protection, Digital Transformation and Data Analytic solutions to the telecommunications industry, has integrated its Optimus Fraud Management System (FMS) with the blockchain that powers RAG's Wangiri fraud intelligence exchange. As a consequence, all Communication Service Providers (CSP) using Optimus Fraud Management will be able to seamlessly add and retrieve information about Wangiri fraud attacks to and from the industry's most comprehensive real-time fraud database.

https://www.realwire.com/releases/Neural-Technologies-becomes-the-worlds-first-Fraud-Management-System

HOSTILE states and criminal gangs are using the coronavirus outbreak to perpetrate fraud and espionage against the UK in a “particularly dangerous and venal” way, Dominic Raab has claimed.

https://www.heraldscotland.com/news/18428711.dominic-raab-hostile-states-criminal-gangs-using-virus-outbreak-commit-fraud-spy-uk/?ref=twtrec

It should not be left to banks and financial institutions to fight the rising tide of fraud in the UK, whether linked to coronavirus or otherwise, according to Katy Worobec, managing director of economic crime at UK Finance.

https://www.mortgageintroducer.com/uk-finance-society-prevent-fraud