Counter-fraud

Delivering a great shopping experience is about more than just the shopping, it's about the paying too. However, today merchants are so hyper-focused on the risk of fraud and attacks, the ease of checkout often suffers, leaving customers frustrated and carts abandoned. Rigorous risk mitigation tools can cause friction in the payment process. Multiple security and authentication steps, low tolerance rules, and cumbersome hurdles are triggering an increase in false declines, with legitimate card-not-present (CNP) transactions rejected due to a suspicion of fraud. On the other hand, relaxing fraud prevention measures to make way for a seamless shopping experience can open up merchants to the significant risk of undetected fraudulent transactions and increase in chargebacks.

https://www.finextra.com/blogposting/20471/preventing-fraud-without-compromising-the-customer-experience

Recent years have seen an increasing focus on whistleblowing as a cornerstone of good corporate culture. By helping to uncover wrongdoing or errors within an organisation, effective whistleblowing procedures are integral to good governance and risk management. They allow problems to be identified early, providing an opportunity to rectify shortcomings and to prevent a crisis. Being aware of issues also allows businesses to manage market-notification obligations and public relations, identify poor performance and potentially avoid costly employment litigation.

https://globalinvestigationsreview.com/guide/the-practitioners-guide-global-investigations/2021/article/whistleblowers-the-uk-perspective

Most people believe fraud victims are usually over 60, but new research from Visa shows almost half of 18–34-year-olds targeted by fraudsters say they’ve fallen for it, twice as likely than those aged over 55.

https://www.kentlive.news/news/uk-world-news/under-35s-twice-likely-fall-5501438

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/