Counter-fraud

Katharine Bagshaw introduces an upcoming ICAEW publication. It recommends ways for stakeholders across the financial reporting ecosystem to better deter and detect corporate fraud and shares examples of best practice for and from audit firms.

https://www.icaew.com/technical/audit-and-assurance/faculty/audit-and-beyond/audit-and-beyond-2022/audit-and-beyond-june-2022/fighting-corporate-fraud

The Fraud Advisory Panel and Barclays Bank have launched a new campaign to help and support businesses in the fight against fraud.

https://www.icaew.com/insights/viewpoints-on-the-news/2022/jun-2022/how-can-you-protect-your-business-against-fraud

THE cost of living crisis is likely to fuel a surge in fraud and online scams, a property group warned this morning.

https://www.cityam.com/govt-warned-cost-of-living-crisis-will-lead-to-tsunami-of-fraud-as-criminals-prey-on-struggling-brits/

People shopping online may find they are asked to verify a purchase via text message more often when they get to the checkout under industry changes.

https://www.standard.co.uk/news/uk/nationwide-building-society-b998868.html

Retail Risk – London 2022

Location

Champagne Suite & Terrace

Novotel London West

One Shortlands

London W6 8DR

Date: May 19 2022

2021 was a year of innovations in payments, from the wider acceptance of blockchain and cryptocurrency to new forms of digital wallets and currency. However, this meant that online fraudsters were also innovating and devising new ways to scam consumers out of their money or personal information online. Here we will dive into some of the ways fraud has evolved and offer tips on how you can stay ahead of online fraud.

https://www.finextra.com/blogposting/22221/innovations-in-payment-fraud--and-how-to-stay-ahead-of-them

The Pensions Administration Standards Association has published guidance on pre-employment checks for administrators, as it has been made aware of fraud cases by employees of these companies.

https://www.ftadviser.com/pensions/2022/04/19/pasa-publishes-pre-employment-guidance-to-deter-fraudsters/

Describe the different types of financial fraud

Identify the means of tackling this

Explain some of the warning signs to look out for

Hundreds of thousands of attempted online frauds will be thwarted by forcing social media companies to be more pro-active against cyber criminals, a police chief said on Monday.

https://uk.news.yahoo.com/online-safety-law-stop-hundreds-112243113.html

Scheme to catch fraudsters, including online scammers, before they commit their crimes has reported a significant increase in crimes prevented

https://www.computerweekly.com/news/252515377/Bank-fraud-prevention-scheme-blocked-60m-in-fraud-last-year