Counter-fraud

Invoice and CEO scams remain some of the main financial fraud risks businesses face, despite a drop in overall fraud losses in 2022 compared to the previous year, according to a report by UK Finance.

https://www.pinsentmasons.com/en-gb/out-law/news/uk-finance-report-shows-persisting-risk-invoice-ceo-fraud-businesses

Police-backed North West Fraud Forum asks businesses to collaborate in the fight against fraud, as new figures reveal increased losses in the region over the past year.

https://www.icaew.com/insights/viewpoints-on-the-news/2023/may-2023/businesses-urged-to-unite-as-fraud-cases-rise-25-in-a-year

The UK government is beginning a review of whistleblowing law. Nicola Sharp of Rahman Ravelli outlines the current legal protections - and possible future ones - for those who report workplace wrongdoing.

https://www.rahmanravelli.co.uk/articles/whistleblower-protections-in-the-uk/

Tide, a UK financial business platform with more than 500,000 SMEs, has urged the government to establish a new anti-fraud tax to fund and train more police officers to combat the rising fraud epidemic in Britain.

https://thefintechtimes.com/tide-urges-government-to-introduce-anti-fraud-tax-to-combat-rising-scams/

Jonathan Newman, senior partner at Brightstone Law, and Christopher Taylor, corporate development director at Westcor International, discuss the startling increase in fraud cases they have encountered in recent months and why lenders need to be alert to this trend.

https://www.mortgagefinancegazette.com/uncategorised/head-to-head-getting-to-grips-with-escalating-levels-of-fraud-09-05-2023/

The government has unveiled a raft of anti-fraud measures designed to tackle the £7bn scammers cost the UK each year.

https://www.ftadviser.com/investments/2023/05/03/govt-launches-anti-fraud-strategy/

ICAEW’s Audit and Assurance Faculty considers audit committee perspectives on corporate fraud and how it can be better prevented and detected.

https://www.icaew.com/insights/viewpoints-on-the-news/2023/may-2023/how-do-audit-committees-perceive-corporate-fraud-risks

Social media users will be able to report scams with just one-click under new measures announced by the Government today. Banks will also be allowed to delay payments they believe to be suspicious, while cold calls on all financial products will be banned as part of a host of new measures designed to help tackle fraud.

https://www.moneysavingexpert.com/news/2023/05/government-fraud-squad-martin-lewis-scams/

Cold calls which cheat people out of their money by tricking them into buying fake investments are to be banned under government plans to be announced next week.

https://uk.sports.yahoo.com/news/cold-calls-financial-deals-banned-054529849.html

When a Coutts client heard of an attractive investment opportunity from an old friend, he jumped at the chance to get involved. But it turned out the well-known company they thought they were investing in was actually a fraudulent clone of it, and they both lost their money.

https://www.coutts.com/insight-articles/news/2023/investment-fraud-the-long-con.html