Counter-fraud

The UK’s fraud watchdog has seen a spike in whistle-blowing reports during the pandemic, new research has found, with the number climbing to 150 in 2021.

https://www.cityam.com/fraud-watchdog-sees-spike-in-whistle-blowing-reports-during-pandemic/

Outgoing chief inspector of constabulary Sir Tom Winsor said the detection rate in fraud is “woefully low”.

https://www.expressandstar.com/news/uk-news/2022/03/10/fraud-must-be-taken-far-more-seriously-by-police/

From scam phone calls, text messages and emails, fake websites, falsified documents and fake insurance claims, fraud has become big business – and a big problem.

https://www.cityam.com/evening-interview-current-approach-to-750m-fraud-tsunami-is-like-taking-a-knife-into-a-gunfight-says-e-crime-guru/

Internal investigations can prove to be complicated, legally challenging undertakings which often require many hours of leadership resources to successfully resolve, and the law on evidence and criminal procedure rules create potential bear-traps for even the most diligent of investigation teams.

https://www.scotsman.com/news/opinion/columnists/we-can-help-you-to-navigate-the-compliance-investigation-minefield-andrew-sackey-3562415

Under changes coming in on 14 March, retailers will have to verify customer is who they claim to be

https://www.theguardian.com/money/2022/feb/12/uk-online-shoppers-face-more-identity-checks-as-new-anti-fraud-rules-kick-in

Sir David Green CB QC, the new chair of the Fraud Advisory Panel, on why weaknesses in counter-fraud systems and enforcement are making London an attractive place for fraudsters

https://www.icaew.com/insights/viewpoints-on-the-news/2022/feb-2022/fraud-risks-a-colossal-problem

Chancellor Rishi Sunak should allow the National Crime Agency (NCA) to investigate “astronomical levels of fraud” that was allegedly committed during the coronavirus pandemic, according to the Labour party.

https://www.cityam.com/rishi-sunak-urged-to-allow-national-crime-agency-to-probe-astronomical-levels-of-covid-loan-fraud/

The rapid digitalisation of the economy, turbo-charged by the Covid-19 pandemic, has presented new opportunities for all types of business. But the acceleration also brings challenges; businesses are under more pressure than ever before to offer secure, seamless, and efficient customer journeys to run a successful digital operation.

https://www.finextra.com/blogposting/21676/six-key-uk-fraud-trends-to-watch-out-for-in-2022

Advisers have floated the idea of a ‘broker union’ to protect themselves against rising levels of mortgage fraud which, some fear, could add to a perceived “imbalance” of power between them and the lenders they work with.

https://www.ftadviser.com/mortgages/2022/01/19/broker-union-floated-as-advisers-fear-rising-mortgage-fraud/

An anti-corruption think-tank has warned the UK is losing the fight against financial crime, as a lack of funding has left the country’s law enforcement agencies “over-stretched” and “under-resourced.”

https://www.cityam.com/conservative-peer-resigns-over-governments-failure-to-tackle-covid-fraud/