Frauds

The 2023 Identity Fraud Report from Onfido has revealed a rise in scaled, en masse attacks on company networks happening 24/7

https://www.information-age.com/fraud-rings-scaling-attacks-around-clock-onfido-research-123500914/

At its most simple, business compromise fraud involves a fraudster compromising a business’s IT systems and tricking that business or another business into willingly making bank transfers to the fraudster. The crucial point is that these frauds – also known as authorised push payment (APP) frauds – involve a payment being made by a person in control of the account who is labouring under a false assumption that the payment details they are using are legitimate, whereas in fact the payee account is controlled by fraudsters. Scams can take on many shapes and forms, including: (i) the fraudster assuming the identity of senior management and asking someone within the financial department to make a transfer; (ii) hacking an employee’s email account in order to request payments be made to vendors; and (iii) hacking a vendor’s account in order to request payments. When the fraud succeeds, the fraud will result in a company’s bank transferring funds to a fraudster’s bank account at its bank.

https://www.financierworldwide.com/the-rise-and-rise-of-business-compromise-fraud-a-victims-toolkit#.Y6Ayi3bP2Ul

THE finance regulatory body has warned a large number of Scots are at greater risk of loan fee fraud this Christmas as their study found increasing numbers are willing to take on more debt to maintain festive spending.

https://www.heraldscotland.com/news/homenews/23189636.scots-warned-loan-fraud-risk-cover-cost-christmas/?ref=twtrec

Attempted fraud has risen steeply within the letting sector in recent months, according to CIFAS, the fraud prevention database.

https://propertyindustryeye.com/database-reveals-huge-spike-in-letting-fraud/

Fraudsters who scammed pensioners out of £200,000 by claiming to be police officers have been jailed.

https://www.bbc.co.uk/news/uk-england-tees-63945367

A London preacher has been found guilty of fraud after selling a fake covid cure for £91 during the height of the pandemic in 2020.

https://grmdaily.com/preacher-guilty-of-fraud-for-selling-oil-bogus-covid-cure/

GONE, we hope, are the days of chalk in flour or horse meat labelled as beef, but food fraud is still happening in Scottish restaurants. The breaches fall under two categories, as identified by the National Food Crime Unit – misrepresentation – “marketing or labelling a product to wrongly portray its quality, safety, origin or freshness”, and substitution – “replacing a food or ingredient with another substance that is similar but inferior”.

https://www.thenational.scot/news/23183560.tip-iceberg-food-fraud-scotlands-restaurants-exposed/?ref=twtrec

A pensioner who cheated a council out of £600,000 after claiming she was bed-bound is still on the run in Berlin.

https://www.dailymail.co.uk/news/article-11495163/Pensioner-66-sentenced-jail-cheating-taxpayers-600-000.html

The number and value of pension fraud cases has significantly increased, with £250 in pension fraud and overpayments recorded between 2020 and 2022, according to the National Fraud Initiative’s (NFI) latest report.

https://pensionsage.com/pa/NFI-reveals-significant-increase-in-pension-fraaud.php

An international one stop spoofing shop has been taken down in the UK’s biggest ever fraud operation, led by the Metropolitan Police.

https://www.actionfraud.police.uk/news/more-than-100-arrests-in-uks-biggest-ever-fraud-operation