Private Sector

58% of Small and Medium sized Enterprises (“SMEs”) believe that the impact of modern-day payments fraud on their business would be minimal and that they would lose only a small amount of money

https://www.finextra.com/pressarticle/72302/vocalink-publishes-small-business-fraud-report/retail

The Financial Conduct Authority (FCA) has launched a consultation on plans to give more small businesses access to the Financial Ombudsman Service (FOS).

https://www.insuranceage.co.uk/regulation/3228901/fca-consulting-on-widening-access-to-fos-for-smes

A finance director who took £10,000 from an architectural firm has been given a 16-month prison sentence, suspended for two years.

http://www.bbc.com/news/uk-england-norfolk-42819834

The woman worked in the accountants department at the Camden Group

https://www.shropshirestar.com/news/crime/2018/01/23/telford-woman-jailed-for-stealing-23000-from-employers/

A employee was suspended and left the company in November 2016. He pleaded guilty of these charges on 3 November 2017 and was sentenced to 34 months in prison on 19 January 2018.

https://www.insuranceage.co.uk/broker/3228931/ps500000-gallagher-fraudster-jailed-for-34-months

The forensic accountant firm appointed by the Criminal Court Review Commission (CCRC) to investigate the Horizon IT system at the centre of claims of wrongful prosecution of sub-postmasters is expected to complete its work next month.

http://www.computerweekly.com/news/252433741/Forensic-investigation-into-Post-Office-IT-system-at-centre-of-legal-case-nears-completion

Companies are starting to embrace ethics and compliance as a positive force to build sustainable financial growth – which is the true calling of a robust ethics and compliance program

https://blog.volkovlaw.com/2018/01/five-major-compliance-predictions-2018/

Insolvency practitioners play key role in combating this costly crime

https://www.begbies-traynorgroup.com/news/firm-news/panorama-investigation-highlights-fraud-in-the-uk-bankruptcy-system

Police Scotland has received 48 requests to research Scottish Limited Partnerships since 2016.

https://stv.tv/news/politics/1406010-scots-firms-with-business-model-tied-to-1bn-fraud-probed/

Over the next 12 months, it is likely that the legal burden on corporates to prevent corporate crime will continue to grow and be supported by an increasingly aggressive response to potential breaches of business crime laws.

http://www.osborneclarke.com/insights/whats-on-the-agenda-for-2018-in-business-crime/