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Fighting Fraud 

 

The Fighting Fraud website brings together information and thought leadership on fraud and related topics, creating a regularly updated source for analysis and comment on current issues in this area.

 

Recent articles

Chip 

April 2014

The Financial Conduct Authority (FCA) assumed responsibility for regulating consumer credit on 1 April 2014.

 


NFIB 

March 2014

Russian and UK organised crime gangs are using Trojan software and cloned SIM cards to withdraw funds from thousands of bank accounts. That’s according to the National Fraud Intelligence Bureau (NFIB).

 


Countering virtual currency money laundering 

January 2014

Virtual currencies have been around for many years, but recent industry evolutions through the rise of Bitcoin and other forums have created a growing regulation gap.

 


 Shady business partners pose serious risk

January 2014

Computers, rather than conmen, are set to be the future face of fraud as criminals turn to robotics to help avoid detection. According to KPMG International’s Profile of a Fraudster, organisations are set to battle so-called ‘seeker bots’. These are self-learning and self-replicating Artificial Intelligence that will render the faces of criminals invisible.

 


 

January 2014

Conducting cross-border investigations is complex. Add legal and cultural differences and you have a huge challenge facing global corporations today.

 

Financial Conduct Authority 

December 2013

The Financial Conduct Authority (FCA) has published a report on money laundering, bribery and corruption risks in the asset management sector.

 


Focus: Conflict Minerals – Time To Act 

October 2013

Regulatory supply chain requirements look set to increase, which makes the importance of having a flexible and institutionalised process all the more critical. Any company supplying an SEC registrant is already affected, irrespective of where they are and the signs show conflict mineral reporting will extend beyond the US in future.

 


Shady business partners pose serious risk 

October 2013

A report into corporate intelligence background searches has revealed troublemaking directors are targeting business in the financial, nergy and technology sectors.

 


Latest fraud news

Bank suspends worker in rigging probe

 

The Bank of England has suspended a member of staff as part of an investigation into potential rigging of the foreign exchange market. The staff member has been suspended while it decides whether "internal control processes" were followed. 

 

 

Rolls-Royce sets up whistleblower hotline for staff with bribery concerns

 

Rolls-Royce has launched a 24-hour "ethics line" for employees to report concerns about bribery, and promised to strip bonuses from bosses sacked for any involvement in corruption. The dedicated whistleblower phone line, operating in 48 countries, comes in response to a criminal investigation by the Serious Fraud Office into allegations that the UK firm paid multimillion bribes in Indonesia and China. 

 

 

Chevron wins US ruling on $9.5bn Ecuador payout   

 

Oil giant Chevron has won a US court ruling against a $9.5bn (£5.7bn) payout to residents of Ecuador's Amazon region. A US judge said that ruling was "obtained by corrupt means", and US courts could not be used to enforce it.

 

 

Country's most senior judge calls for radical reform of laws on fraud so City bankers can be tried and punished  

 

The country’s most senior judge called for radical reform of the laws on fraud so that corrupt City bankers can be tried and punished. Lord Chief Justice Lord Thomas said: ‘It is vital for the health of our economy and the pre-eminence of London that those who commit financial fraud or engage in bribery and corruption are tried in a criminal court and severely punished.’