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The primary purpose of the review is to improve the prevention, detection and prosecution of money laundering and terrorism financing in the United Kingdom. The Commission make 19 recommendations in this final report, these include both legislative and non-legislative mechanism designed to improve the efficiency and effectiveness of the consent regime. Collectively the recommendations will ensure a more proportionate and user-friendly regime; clarify the scope of reporting; reduce the burden of compliance and processing; and produce better quality intelligence for law enforcement.
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Understanding the gap in perceptions of cybersecurity between consumers and the organizations that serve them is a key theme of this report. KPMG believe that solving this gap
in perceptions generates consumer trust and confidence propels business growth.
Cybercriminals are looking for the biggest bang for the buck. As they seek to maximize their return on investment, they focus on what makes them the most money — and at the moment that is tricking firms into transferring funds through spear phishing and social engineering (so-called CEO frauds), extortion through ransomware, and attacks on the new world of cryptocurrencies.
This report, for the first time, establishes a baseline figure for the cost of recruitment fraud. It also shows, where it is allowed to occur as a result of no or inadequate pre-employment checks, it often leads to further fraud and theft. Fraudsters, encouraged by successfully
gaining employment through dishonesty are often motivated to attempt wider fraud within their host organisations. However, the deterrent to individuals from carrying out recruitment fraud is not complex or difficult for businesses to adopt. Effective pre-employment checks are relatively low cost and easy to commission. With fraud growing by almost 50% in the last 10 years, the real question is not why would we do this, but why wouldn’t we?
The National Crime Agency’s mission to lead the UK’s fight to cut serious and organised crime is critical to our national security. This Annual Plan sets out how we will develop the Agency and lead the whole system, harnessing the collective powers of law enforcement, government, the voluntary sector and industry to deliver the coordinated response we need to protect our communities and counter the escalating and rapidly evolving threat from Serious and Organised Crime (SOC).
The first attempt to put the common law offence of bribery on a statutory basis was in 1889. For many decades there has been agreement that the law was unclear and unsatisfactory, especially as regards offences committed by corporations, but there was agreement on little else. Eventually the Bribery Act 2010 was passed to put the offences on a fresh statutory basis. It has now been in force nearly eight years, and a House of Lords Select Committee has been conducting post legislative scrutiny to see whether the Act is achieving its intended purposes.
How smart analytics can stop procurement fraud
Procurement fraud can emerge in any organisation that fails to acknowledge and address it. This is why procurement and other forms of internal fraud are such a menace. Many organisations are in denial over the scale of internal fraud, leading to belated investigations that fail to uncover its true extent. While fraud is primarily an external threat, half of all cases are assisted by employees. It is time for businesses to unmask the enemy within.
The Cyber Security Breaches Survey is a quantitative and qualitative survey of UK businesses and charities. For this latest release, the quantitative survey was carried out in winter 2018 and the qualitative element in early 2019. It helps these organisations to understand the nature and significance of the cyber security threats they face, and what others are doing to stay secure. It also supports the Government to shape future policy in this area.
The HMICFRS conclude the law enforcement response to fraud is disjointed and ineffective with no national strategy for tackling fraud. Police forces have therefore developed a range of different responses. We found some examples of good practice but, taken as a whole and given the scale of fraud, not enough is being done. When it exists, good practice is not always disseminated or widely adopted.
This report, which was sponsored by Tenable and conducted by Ponemon Institute, reveals that a lack of visibility into the attack surface, inadequate security staffing and reliance on manual processes undermine operational technology (OT) sector organizations’ stated requirements to protect OT and IoT infrastructure from downtime. The report said 37% reported a “significant disruption” to business processes caused by malware, 33% reported a cyber-attack caused “significant downtime”, 23% reported that they had been hit by nation state attacks and 60% said disruptive cyber-attacks are among the threats they are most worried about.
Non-trial resolutions have been a prominent means for resolving economic crimes, including the bribery of foreign public officials. This Study looks at how these non-trial resolutions have been used to resolve foreign bribery cases, i.e. cases involving at least a foreign bribery offence or an alternative offence in cases pertaining to the foreign bribery sphere as defined by the Working Group on Bribery in its country monitoring work.
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