Private Sector

A Birmingham garage boss has been jailed for breaching bankruptcy restrictions, making false representations to Official Receiver and defrauding creditors for over £1m.

https://www.thebusinessdesk.com/westmidlands/news/2040461-birmingham-garage-boss-jailed-for-1m-fraud#.XrRxC_J-9GE.twitter

A panel of UK and US insurance professionals say insurance staff working from home may undertake opportunistic fraud to mitigate financial hardship brought on by the pandemic

Hull-based Hudgell Solicitors has begun work on trying to overturn as many as 500 potentially unsafe convictions as a result of the Post Office Horizon IT scandal.

https://www.legalfutures.co.uk/latest-news/firm-targets-mass-overturning-of-post-office-convictions?utm_source=iContact%2BWeekly%2BNewsletter&utm_medium=email&utm_campaign=legal-futures&utm_content=

Wirecard says a forensic audit of its earnings by KPMG found no evidence of balance sheet manipulation or wrongdoings, following months of media allegations of accounting irregularities at the Berlin-based payments processor.

https://www.finextra.com/newsarticle/35708/wirecard-says-independent-audit-shows-no-evidence-of-fraud

It is interesting to see further details announced today around the ongoing financial investigation at Lookers.

https://www.am-online.com/opinion/2020/04/27/key-business-fraud-issues-lessons-learned-from-lookers-4m-black-hole

Car dealership chain Lookers has completed the first part of an investigation over potential fraud at the business.

https://www.expressandstar.com/news/business/2020/04/24/lookers-expects-4m-hit-from-fraud-probe/

Corporate fraud and corruption can strike companies of any size, damaging these organisations as well as the broader economy. It is imperative that companies are prepared to tackle financial misconduct no matter what guise it takes. In the coming months and years, as the global economy suffers then recovers from the damage caused by the COVID-19 outbreak, vigilance will be more important than ever. It would be easy for firms to take their eye off the ball as they focus on other matters.

https://www.financierworldwide.com/annual-review-corporate-fraud-corruption-2020#.Xqa_lW5FzIV

Criminals are using the Covid-19 pandemic as a cover to defraud individuals and businesses seeking to outsource payroll services.

Virtual panel organised by Amazon workers after the company fired multiple employees for protesting over work conditions

As opportunists gear up to exploit the pandemic for personal gain, businesses can take steps to stop them.

https://www.itproportal.com/features/enemy-at-the-gates-preparing-for-rising-fraud-risks-in-a-time-of-crisis/