- Home/Publications/Fraud Intelligence
Global public sector corruption perception levels obstinately high, TI index shows
Transparency International's 2023 Corruption Perceptions Index, released on Tuesday (30 January 2024), has scored 122 of 180 countries worldwide below 50 on perceived levels of public sector corruption, on a range from 0 (highly corrupt) to 100 (very clean).
Online Published Date:
09 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024
Increased compelled powers for the UK Serious Fraud Office
The Economic Crime and Corporate Transparency Act 2023 received Royal Assent on 26 October 2023 but it was on 15 January 2024 that section 211 came into effect, which expands the scope of the Serious Fraud Office's powers to compel individuals to provide documents and information. Mark Jones and Henry Watkinson of Payne Hicks Beach examine the change.
Online Published Date:
09 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024
Chinese checkers
Due diligence and investigations in China for overseas clients, always to be handled with care, says Mark Godfrey, now call for even greater sensitivity in an atmosphere of heightened geopolitical tension and distrust.
Online Published Date:
09 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024
Disclosure: beware of ambushing tactics
The recent decision in AXA Insurance v Kryeziu, a low-value insurance dispute, provides welcome clarification of what is required of victims of fraud in both their pleadings and disclosure, and the consequences of failing to comply. The lessons are drawn by Philip Gardner and Abbie Melvin of Peters & Peters.
Online Published Date:
09 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024
UK failing to hold executives accountable for economic crime
Senior executives at the top of large companies involved in bribery, fraud and other economic crime almost never face any consequences in the UK, according to a damning 7 February report from lobby and campaign group Spotlight on Corruption.
Online Published Date:
09 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024
UK SFO director favours whistleblower payments and covert techniques
Nick Ephgrave intends the Serious Fraud Office to "be bolder, more pragmatic, more proactive" during his tenure as director. In his first speech since taking office last September, Ephgrave, who previously served at the top of the Metropolitan Police, told the Royal United Services Institute (RUSI) audience that "we have already gone through more front doors [in dawn raids] in the last three months than in the last three years".
Online Published Date:
14 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024
AI and machine learning in anti-fraud set to soar - ACFE study
The ACFE (Association of Certified Fraud Examiners) has released data predicting that the use of AI and machine learning systems in anti-fraud programmes is expected to triple worldwide over the next three years.
Online Published Date:
15 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024
Warnings grow about UK local government graft
Concern is growing that the current legal framework in the UK fails to provide effective measures to tackle corruption in local government. Lack of resources and expertise dedicated to investigating and prosecuting corruption cases adds to the difficulties.
Online Published Date:
16 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024
UK survey tracks doubling in total fraud for higher value cases
The total value of fraud in the UK, for cases reported in the media where the sum was at least UK£50,000 (US$63,000), more than doubled last year to UK£2.3 billion (US$2.9 billion), according to accountancy and business advisory firm BDO's latest 'FraudTrack' analysis.
Online Published Date:
21 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024
LockBit ransomware back after law enforcement cyber raid
Ransomware group LockBit is claiming to be back in business less than a week after it was disabled in an international operation led by Britain's National Crime Agency.
Online Published Date:
29 February 2024
Appeared in issue:
April/May 2024 - 09 February 2024