Law and the Justice System

The Serious Fraud Office (SFO) has recovered a further £295,000 from Virendra Rastogi, now known as Vareen Kumar or Veerain Kumarr, who was convicted for an international metal trading scam.

The money was recovered from two pension funds as part of an ongoing proceeds of crime investigation into Rastogi’s assets, which has recovered nearly £6 million to date including from the sale of his Marylebone home and via the seizure of money and assets including valuable watches.

Virendra Rastogi, whose company was advised by political grandees, was jailed in 2008 for a £1bn fraud through a business empire that was ‘rotten to the core’

https://www.thetimes.com/uk/crime/article/fraudster-loses-pension-pot-to-confiscation-order-20-years-later-z0fz8c6tz#:~:text=The%20pension%20pot%20belonging%20to,Office%20(SFO)%20to%20date

The Bill would allow banks to better investigate suspected fraud.

The Department for Work and Pensions are set to be granted powers to request information from the bank accounts of benefit claimants.

The Fraud, Error and Debt Bill will require banks and other financial institutions to share data that may help identify benefit fraud.

According to details from DWP, the legislation will give the Department powers to:

• Better investigate suspected fraud and new powers of search and seizure so DWP can take greater control investigations into criminal gangs defrauding the taxpayer.
• Allow DWP to recover debts from individuals who can pay money back but have avoided doing so, bringing greater fairness to debt recoveries.
• Require banks and financial institutions to share data that may show indications of potential benefit overpayments.

https://insight.scmagazineuk.com/proposed-fraud-error-and-debt-bill-raises-privacy-concerns

The government will bring forward a new Fraud, Error and Debt Bill in this parliamentary session to crack down on fraud in the social security system.

• Fraud, Error and Debt Bill brought forward to tackle fraud in social security system

• New laws to give DWP more powers to catch fraudsters faster and prevent customers from getting into debt sooner
• Bill to include measures to protect vulnerable customers and ensure support goes to those who need it most

Fraud is having a lingering impact on some victims’ mental health, research for Which? has found.

The consumer group commissioned a survey of more than 1,000 people across the UK who had lost money to fraud in the previous two years.

Of those who reported the fraud, just over half (55%) were able to get all their money back – but nearly a quarter (22%) said they received no reimbursement at all.

The husband of a greedy government worker who helped her commit fraud must pay back just £1 despite making more than £22,000 from his crime.

Tracy Ashbridge As we reported previously to fraudulently pocket more than £300,000. She was also ordered to pay back a nominal £1 at a hearing under the Proceeds of Crime Act earlier this year.

The jailed former office manager of an Edinburgh property firm who embarked on a luxury lifestyle after embezzling company funds has been ordered to pay back more than £211,000.

Former Edinburgh property firm office manager ordered to repay £211,000 of embezzled funds | Scottish Financial News

The wife of a jailed banker has forfeited her London Knightsbridge home and a golf club in Ascot after spending more than £16 million on shopping trips to Harrods.

Zamira Hajiyeva, 61 whose husband Jahangir Hajiyev, 62, is serving a 16-year jail sentence in Baku for fraud and embezzlement, had been pursued by the National Crime Agency (NCA) over the source of her considerable fortune.

A recent report by Crest Advisory, the Police Foundation, and Birkbeck University calls for a dedicated fraud commissioner and a cabinet minister for economic crime. It advocates for a strategic, well-resourced approach to combating online fraud, including an annual levy on online platforms.

https://www.mondaq.com/uk/white-collar-crime-anti-corruption-fraud/1500394/proposals-for-a-fraud-commissioner

A new report is calling for the establishment of a Fraud Commissioner and for all economic crime – including fraud – to sit with a dedicated cabinet minister.

Published on Thursday (July 18) by Crest Insights, the think-tank for the criminal justice system, the White Paper highlights the need for a “renewed focus” on online fraud within government strategy.

https://policeprofessional.com/news/new-white-paper-calls-for-step-change-in-fraud-response/