Counter-fraud

Fraud investigations vary in size and scope. Some are resolved in a month while others can take years. All the work may be for nothing, though, if you are unable to effectively and impartially substantiate and communicate your findings to those in power. There are three pivotal stages that can lend a framework to your investigation and help ensure your findings are accepted.

https://www.acfe.com/fraud-examiner.aspx?id=4295010385&mkt_tok=eyJpIjoiT0RoaVltWmxNMlV3TnpBMyIsInQiOiI0VWRWZ3pWbGFCQjZpTWtLVFFBa3ZXeUptNHNlbFhQMDZWSWxNeDVXT0xRMnZTblwveFFVakVGcnJ1K2xVQzJ1VEhIdTBNUmNzUXJLdjFRRU5zREpraklOWHkzVXZqVk9KMmxYek45XC9OTGRXOGRMdzZ0a2NKbktJalFFTFNBaGtrIn0%3D#.XoELAOVriPM.twitter#.XoELAOVriPM.twitter

Distributed ledger technology certainly offers numerous benefits when it comes to payments security, but experts are adamant it won’t eliminate fraud altogether

https://www.raconteur.net/finance/blockchain-payment-fraud

Across the UK, the National Fraud Intelligence Bureau has reported a new trend in fraud and cybercrime related to the Coronavirus.

Nearly £1 million has been stolen in coronavirus related scams since the start of February, it has been revealed.

https://www.shropshirestar.com/news/crime/2020/03/25/west-mercia-police-warning-as-nearly-1-million-taken-in-coronavirus-scams/

Claims management giant Sedgwick has recorded higher claims fraud savings for its clients in the UK in 2019, both in terms of volume and value.

https://www.insurancebusinessmag.com/uk/news/breaking-news/sedgwick-boosts-claims-fraud-savings-218138.aspx#disqus_thread

UK police prevented over £31m in mainly fraudulent activity last year, according to UK Finance.

Over £100 million worth of fraud — often targeting vulnerable and elderly customers — has been prevented through a UK-wide scheme that enables bank branch staff to spot potential fraud victims and request an immediate police response.

https://www.herefordtimes.com/news/regional/18318738.100-million-fraud-targeted-elderly-stopped-rapid-response-scheme/?ref=twtrec

Account Takeover is one of the biggest threats that banks are facing today. With 3.8 billion data records compromised worldwide in 2018, it is evident that despite implementation of cybersecurity measures, digital channels remain vulnerable.

https://www.finextra.com/eventarticle/2465/-on-demand-webinar---how-to-address-fraud-through-the-use-of-risk-analytics

Vital fraud protections should be made mandatory, a consumer watchdog has warned, as a report found that more than £1 billion is estimated to have been lost to bank transfer scams in just three years.

https://www.scotsman.com/news/uk-news/banks-are-failing-bring-fraud-protections-time-2463480

A new ICAEW report argues that auditors play a significant role in detecting and preventing fraud and sets out recommendations for how to do this.

https://www.icaew.com/insights/features/2020/mar-2020/fraudulent-financial-reporting-the-role-of-auditors