Frauds

Legislation will bring seismic change to the industry and aims to stamp out money laundering.

Not for the first time in the history of the European parliament, it all started in Belgium. An investigation into alleged bribery, money-laundering, forged transfer contracts and the involvement of organised crime at the highest levels of professional football that began in 2018 eventually implicated almost 60 agents, administrators, referees and coaches.

https://www.theguardian.com/football/2024/apr/23/european-union-money-laundering-crime-corruption-uefa

Sixteen people have been sentenced for their roles in a fraud conspiracy which saw thieves steal cars worth £2m.

Investigators said the group used stolen identities to create false credit agreements before a group of men called "strikers" collected the cars from different locations such as hotel car parks.

The fraud ran from February 2020 to July 2022 during which time 75 cars, including Porsches, Mercedes and BMWs were stolen.

Taylor Swift fans are being urged to avoid a cruel summer as mean ticket fraudsters take advantage of demand for the star’s Eras tour to con thousands of would-be concert-goers.

One of Britain’s biggest banking groups, Lloyds, said: “Fans of Taylor Swift are being targeted by a wave of concert ticket scams flooding social media.”

As the scammer gonna scam, Lloyds said that British fans are estimated to have lost more than £1 million since tickets for the UK dates went on sale.

The recent decision in CCP Graduate School Ltd v National Westminster Bank plc and another [2024] EWHC 581 (KB), demonstrates how Claimants are repositioning claims against banks arising from authorised push payment (APP) fraud from breach of Quincecare duty claims to so-called “retrieval duty” claims.

https://cms-lawnow.com/en/ealerts/2024/04/app-fraud-quincecare-duty-claims-against-banks-replaced-by-new-retrieval-duty-claims

The DWP is set to change how people are assessed for Personal Independence Payment (PIP) in a bid to crack down on benefit fraud.

It comes after Prime Minister Rishi Sunak announced he was worried that the current system was being 'misused'.

The Tory leader spoke of how PIP awards can come off the back of 'subjective and unverifiable claims' that physical or mental illnesses and disabilities are affecting a person's life. Some conditions don't show on medical scans or tests, so the department must take the word of the person claiming on the severity of their own specific condition, Birmingham Live reports.

Privacy activist group Big Brother Watch has questioned the legality of the plan for Department for Work and Pensions (DWP) to run checks on the financial data of benefits claimants.

DWP has said the organisation’s claims are false and emphasised the intent to use the powers to reduce benefits fraud.

The plan was announced as an amendment to the Data Protection and Digital Information Bill in November of last year.

Police are investigating after a vulnerable person was targeted by fraudsters pretending to be from the bank.

Officers said the case of courier fraud took place in the Chorley area and people are being asked to warn their elderly relatives and friends not to hand over personal details.

Police are urging people to be wary of scammers when booking tickets for concerts and other events as figures show Almost £300,000 was lost to ticket fraud last year in Northern Ireland.

Data from Action Fraud shows nationally £6.7 million was lost to this type of crime. In Northern Ireland, the total reported losses came in at £291,344.36 with 299 reports made.

https://www.armaghi.com/news/scammers-make-off-with-almost-300000-from-299-reports-of-ticket-fraud-in-ni/240122

A quarter of UK adults have shared their sensitive personal information, such as bank details and address, via email with a conveyancer, estate agent or mortgage broker when moving home, according to new research from client compliance platform Thirdfort. With email interception fraud on the rise, this means a significant proportion of homeowners are putting themselves at risk.

https://propertyindustryeye.com/homebuyers-continue-to-share-sensitive-personal-information-over-email/

Our financial lives are becoming more intricate and remote, demanding heightened vigilance.

Criminals are using social media, artificial intelligence (AI) and deep fake technology to target consumers, a fraud prevention body suggests.

Last year, according to the Fraudscape report conducted by Cifas, over 374,000 fraud cases were reported to the Cifas National Fraud Database (NFD) and they said that members prevented £1.8 billion worth of fraud losses.