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Combined strength - class actions
Litigation is expensive so it makes sense for fraud victims to pool resources and/or pursue resolution on a contingency fee basis. Keith Nuthallexamines current class suit trends and recent standout cases.
Online Published Date:
26 March 2024
Appeared in issue:
June/July 2024 - 26 March 2024
EU adopts anti-SLAPPs directive
The European Union (EU) has approved a directive that will restrict the use of so-called 'strategic lawsuits against public participation' (SLAPPs), where rich individuals bringlegal cases to silence critics or prevent journalists from investigating wrongdoing.
Online Published Date:
26 March 2024
Appeared in issue:
June/July 2024 - 26 March 2024
UK concerted police operation against fraud makes record arrests
A major UK multi-police force counter-fraud operation has arrested 438 suspects and seized almost UK£14 million (US$17.7 million) in cash and assets.
Online Published Date:
04 April 2024
Appeared in issue:
June/July 2024 - 26 March 2024
Trafigura fined US$127 million in USA for Brazilian oil company bribes
International commodity trading conglomerate Trafigura has been fined almost US$127 million in a US court after admitting to bribing officials at Brazilian state oil company Petrobras, between 2003 and 2014, to gain and retain business, violating the USA Foreign Corrupt Practices Act (FCPA).
Online Published Date:
11 April 2024
Appeared in issue:
June/July 2024 - 26 March 2024
Is enforcement of foreign arbitral awards safe against fraud?
A novel and audacious fraud on the English courts has recently come to light, after a purported Kuwaiti arbitration award that a High Court judge ordered to be enforced was revealed to be an "out-and-out fabrication". Neil Newing of Signature Litigation examines the case and potential holes in the arbitral enforcement process.
Online Published Date:
12 April 2024
Appeared in issue:
June/July 2024 - 26 March 2024
Call for audit of UK defence ministry links to bribery for Saudi contracts
Campaign groups Spotlight on Corruption and Transparency International UK are calling for Britain's National Audit Office (NAO) to probe the country's Ministry of Defence (MoD) involvement in a British-Saudi bribery scandal.
Online Published Date:
25 April 2024
Appeared in issue:
June/July 2024 - 26 March 2024
US DoJ launches fraud disclosure for immunity programme
The US Department of Justice (DoJ) has launched a self-disclosure programme, offering some fraudsters immunity from prosecution if they own up to their wrongdoing before they are caught.
Online Published Date:
25 April 2024
Appeared in issue:
June/July 2024 - 26 March 2024
UK disclosure regime reviewer sets out first findings
After extensive consultation with professionals working in criminal justice, Jonathan Fisher KC, appointed by the UK Home Secretary to look at how disclosure is working, says he currently sees "no compelling case for radical reform of the CPIA [Criminal Procedure and Investigations Act 1996]".
Online Published Date:
25 April 2024
Appeared in issue:
June/July 2024 - 26 March 2024
Inspectorate says UK government must fund SFO to pay staff market rate
The UK government must boost the Serious Fraud Office (SFO) budget if it is to attract and retain qualified staff and avoid the failings, notably in disclosure, identified in recent reviews of the agency, says the HM Crown Prosecution Service Inspectorate (HMCPSI).
Online Published Date:
30 April 2024
Appeared in issue:
June/July 2024 - 26 March 2024
KPMG offers ex-criminals jobs, but not in roles linked to their offences
Audit giant KPMG UK has joined a UK government drive to recruit prison-leavers, citing its successful ongoing pilot scheme, launched in 2022.
Online Published Date:
05 May 2024
Appeared in issue:
June/July 2024 - 26 March 2024
Ban second jobs by MEPs, says TI
Transparency International EU is calling for a ban on members of the European Parliament (MEPs) undertaking side jobs in future, following this June's elections, citing conflict of interest concerns.
Online Published Date:
09 May 2024
Appeared in issue:
June/July 2024 - 26 March 2024
US tax authority unveils 2024 'dirty dozen' scams
Bogus tax avoidance strategies, phishing and smishing scams as well as fake art donations and charities, all feature on the 2024 Dirty Dozen tax swindles listing from the US Inland Revenue Service (IRS).
Online Published Date:
16 May 2024
Appeared in issue:
June/July 2024 - 26 March 2024
Reload - the crypto-crime scene
Cryptocurrency fraud may have declined of late, after rampant growth during Covid, but with the sector a byword for innovation, there is no cause for complacency, as Keith Nuthalldiscovers.
Online Published Date:
16 May 2024
Appeared in issue:
June/July 2024 - 26 March 2024
What can fraud prevention learn from behavioural science?
A holistic counter-fraud approach can usefully draw on insights from economics, psychology, sociology and neurology to promote a culture where wrongdoing is less prevalent. Priya Giuliani and Katherine Odendaal of Guidehouse outline how tactics such as the social norm technique, ethical nudges and strategic use of friction can benefit workplace behaviours.
Online Published Date:
20 May 2024
Appeared in issue:
June/July 2024 - 26 March 2024
Practical uses of AI in asset tracing
Search and seizure as well as imaging processes are crucial legal tools for an investigation, with much at stake on their effective delivery. Joanna Curtis of Brown Rudnick details specific ways in which artificial intelligence could be employed to assist this process.
Online Published Date:
21 May 2024
Appeared in issue:
June/July 2024 - 26 March 2024