Private Sector

In a matter of a few weeks Nafeesa Shabbir helped criminals fraudulently withdraw £47,902 from four business accounts

Small businesses are the primary target for cyber attacks, yet most are unprepared and do not think they will be targeted, a survey reveals

https://www.computerweekly.com/news/252467348/Most-SMEs-severely-underestimate-cyber-security-vulnerabilities

Consider the terms ‘fraud’, and ‘waste’. While fraud conjures up the emotions of anger, alongside romanticised mental imagery of scheming criminals versus noble forces, waste is a far less emotive and enticing concept. However, in an industry as complex as programmatic, with a multitude of nodes interlinking at various touchpoints, small amounts of wastage can build into as serious a problem as fraud, if not more so.

https://www.exchangewire.com/blog/2019/07/24/with-all-the-talk-of-fraud-the-industry-overlooks-waste/

A former estate agent who ran his own business and commended great respect locally has been jailed for two years.

Walter Forbes, then aged 30, set up Comp-U-Card (CUC) in 1973 with Kirk Shelton. The company sold membership cards that allowed customers to buy goods and services from selected firms at discounted rates. During the 1980s and early 1990s the firm grew, attracting 30 million customers. It also started buying other companies, culminating in a 1997 merger with HFS Incorporated, which owned various franchises and hotel chains. The newly merged firm was renamed Cendant in 1997.

https://moneyweek.com/510835/great-frauds-in-history-walter-forbes/#.XTArlIdsPE0.twitter

A former doctor’s practice manager from York has been jailed for two years after transferring over £596,000 from her employer’s accounts to her own.

https://www.minsterfm.com/news/local/2912529/york-woman-jailed-for-596000-fraud-against-doctors-practice/#.XSmdTxvr10I.twitter

The Serious Fraud Office is considering whether to investigate the business affairs of Gavin Woodhouse after referrals by two senior politicians.

n the last week we have seen the ICO indicate fines for data breaches under GDPR including British Airways at £183M and Marriott Hotels at £100m. Contrast this with Talk Talk in 2016 who after a large breach were fined £400k under the older Data Protection Legislation. Even this they appealed against, remarkable some would say.

https://www.linkedin.com/pulse/paying-cyber-crime-ethical-gap-chris-greany/

A wood-burning stove installer has been prosecuted for a second time after he falsely claimed he was registered with industry body HETAS (Heating Equipment Testing and Approval).

https://caerphilly.observer/news/978220/stove-installer-prosecuted-for-a-second-time-after-falsely-claiming-he-was-registered-with-industry-body-hetas/

Five people were arrested and questioned over alleged accounting fraud at Patisserie Valerie as the investigation into the café chain's collapse moved up a gear.

http://www.mondaq.com/uk/x/823396/Corporate+Crime/Nicola+Sharp+of+business+crime+solicitors+Rahman+Ravelli+believes+more+arrests+could+follow