Counter-fraud

Understanding the psychology of those who lie, con, defraud, or manipulate.

https://www.psychologytoday.com/gb/blog/prisons-and-pathos/202106/just-because-i-can-the-psychology-conning-and-fraud

American Express announced today it is teaming up with other online fraud prevention companies to help stop card-not-present (CNP) fraud and make online shopping safer for its merchants and Card Members around the world.

https://www.finextra.com/pressarticle/87881/amex-makes-online-fraud-fighting-tech-available-to-more-merchants

HSBC has launched a fraud awareness app to provide businesses with up-to-the-minute news on emerging scams.

https://www.finextra.com/newsarticle/38171/hsbc-uk-launches-fraud-awareness-app-for-businesses

In this alert, Partner Emma Bartlett and Associate Harriet Riddick discuss six practical steps that in-house counsel can take to prepare for and deal with whistleblowing complaints, so that they can, in fact, become an asset to the business; encouraging early disclosure of potential whistleblowing issues should be a key priority to preserve integrity and a culture of openness.

https://www.cm-murray.com/knowledge/workplace-whistleblowing-practical-tips-for-in-house-lawyers/

In the business world, due diligence refers to the investigation and steps were taken by organisations to satisfy all legal requirements before buying or selling products/ services or entering into a contract or a financial arrangement with another party. An Integrity Due Diligence allows an organisation to reduce risks – including risks arising from the FCPA (Foreign Corrupt Practices Act) and the UKBA (U.K. Bribery Act), to make informed decisions and pursue takeovers or mergers with more confidence. Due diligence is vital to prevent many types of fraud. While in some cases, it is also up to the consumer to do their own personal due diligence. Due diligence sounds complicated, but it is merely the process of doing your homework before you make a significant commitment.

https://crigroup.com/personal-due-diligence-tips-you-need-to-know/

Highways England counter fraud officers are understood to have spent two days on the site of the M1 smart motorway project running from junction 13 near Milton Keynes to junction 16 near Northampton.

https://www.constructionenquirer.com/2021/06/01/highways-counter-fraud-team-probes-m1-smart-motorway-job/

Working from home is now the norm for so many people, but with one in ten employees still wanting a remote lifestyle for the foreseeable future, what does that mean for employers and what exactly are the risks?

https://www.openaccessgovernment.org/are-you-protected-against-work-from-home-fraud/111651/

Over £63m was lost nationally to investment fraud across 5,039 reports that referred to a social media platform in 2020/21, according to Action Fraud.

https://pensionsage.com/pa/63m-lost-social-media-based-investment-scams-over-202021.php

While we’ve all been distracted about the Covid-19 pandemic, an epidemic of a very different kind has been flourishing.

https://metro.co.uk/2021/05/25/how-fraud-can-impact-businesses-and-where-to-get-help-14632006/?ito=article.desktop.share.top.twitter

Money mules are a hot topic in fraud prevention circles these days. But wait a minute, isn't that more of an AML issue? I mean the literal definition of money laundering is "concealing the origins of illegally obtained money". That's money muling to a T. However, when you look across the lifecycle of muling activity, it becomes more complex. And when it comes to categorizing money mules within a specific fraud/AML use case, mules indeed have an identity crisis.

https://www.finextra.com/blogposting/20358/money-mules---an-identity-crisis