Counter-fraud

I’m reticent about using my own personal experience to extrapolate out into the wider world, but on this occasion – especially having read the Work & Pensions Treasury Select Committee’s concerns on pension scams in the weekend papers – I think it is worth highlighting, particularly to advisers who are more likely to work with older/retired/vulnerable customers, as we do in the later life space.

https://www.mortgageintroducer.com/attempted-fraudulent-activity-on-the-rise/

For periods commencing on or after 15 December 2019, all auditors (where ISAs (UK) apply) are required to explain in the auditor’s report the extent to which the audit was considered capable of detecting irregularities, including fraud. This guide from ICAEW’s Audit and Assurance Faculty provides practical considerations for auditors who are required to report on irregularities, including fraud, for the first time.

How to report on irregularities in the auditor’s report | ICAEW

Chartered accountants are trusted professionals and should have zero tolerance of fraud, money laundering or any type of economic crime, writes Michael Izza, ICAEW CEO.

Economic crime: have the courage to call it out | ICAEW

The UK financial services sector is examining ways to improve economic crime detection processes, in particular through the use of artificial intelligence. This comes with a number of benefits and challenges, explains UK Finance chair Robert Wigley.

Fighting fraud with AI | ICAEW

The structure of sheepskin made attempts to remove or modify text obvious, new research suggested.

Sheepskin may have been used in legal documents to aid fraud detection – study | Express & Star (expressandstar.com)

TransUnion’s latest quarterly analysis of global online fraud trends found that since the Covid-19 pandemic began, fraudsters are increasing their rate of digital schemes against businesses. In addition, TransUnion’s recent Global Consumer Pulse Study found that more than one in three global consumers have recently been targeted by digital fraud related to Covid-19.

TransUnion: More Than One in Three Global Consumers Targeted by Digital Fraud Related To Covid-19 | The Fintech Times

The “whack-a-mole” approach to protecting people from fraud when they are searching the internet is not working, Which? has warned.

‘Whack-a-mole' approach to stopping online scams is not working, says Which? - The Irish News

Nigel Iyer has channelled his accountancy and audit skills into fighting fraud for 25 years. He’d like to see more accountants do the same.

Why all accountants can (and should) become fraud detectives | ICAEW

Fraud is a growing threat to every type of organisation. Accountants can play an important role in helping organisations prevent and detect fraud.

https://www.icaew.com/insights/viewpoints-on-the-news/2021/mar-2021/could-invoice-fraud-affect-your-business

The technology that’s going to help fight against fraud

https://www.techradar.com/uk/news/continuing-the-fight-against-fraud-in-2021