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Crypto criminals netted US$24.2 billion in 2023, says Chainalysis
Crypto criminals netted at least US$24.2 billion worldwide in 2023 from scams, hacking, ransomware and other illicit uses of cyberspace, according to preliminary findings by American blockchain consultants Chainalysis.
Online Published Date:
07 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
UK side payments to Saudis for defence contracts spotlit in trial
British government complicity in a Saudi Arabia corruption scandal saw two accused acquitted in London's Southwark Crown Court on 6 March, despite both admitting to paying bribes to secure defence contracts.
Online Published Date:
14 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
Untrue to type - fraudster traits
Are there tell-tale and fail-safe signs of future, or current, dishonesty on which we can rely? Paul Cochrane and Keith Nuthallgo in search.
Online Published Date:
14 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
Trust in balance - control checks
However high fraud levels are, there are limits on the checks that can be performed, or business and public administration would seize up entirely. Indeed, with the increasing influence of risk-based approaches in fighting crime, Keith Nuthalldiscovers that an optimal anti-fraud strategy is as much about choosing what to trust as what to suspect.
Online Published Date:
15 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
Same and different - crypto
Cryptocurrency-based scams are often just a new twist on tried and tested schemes involving fiat currency, but the increasing variety and complexity of virtual asset offerings do also present fresh opportunities for bad actors, finds Keith Nuthall.
Online Published Date:
15 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
The fraud prevention jigsaw
Scammers leave their footprint across the various infrastructure channels that are necessary to perpetrate their scheme. So, how can we piece together information about their trail, to stop fraudsters in their tracks? Mark Tierney reports on steps to quit playing whack-a-mole and take a systematic approach.
Online Published Date:
19 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
Occupational fraud costs organisations 5% of annual revenue - ACFE survey
Occupational fraud is costing private and publicorganisations worldwide 5% of their annual revenue, with losses topping US$1 million in 22% of cases and averaging US$1.7 million, according to the latest global survey from the Association of Certified Fraud Examiners (ACFE).
Online Published Date:
20 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
EU currents - law enforcement gains cross-border momentum; VAT fraud blitz
The effectiveness of collaboration by national and international law enforcement agencies has been demonstrated by recent raids and arrests in the European Union (EU).
Online Published Date:
21 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
SFO and company lawyers discuss ECCTA exposure
The United Kingdom's new Economic Crime and Corporate Transparency Act (ECCTA) leaves companies significantly more vulnerable to committing a primary offence as well as to an omission in preventing an array of fraud categories. Experts at the Association of Certified Fraud Examiners (ACFE) Europe conference in March discussed the ramifications, reports Esther Martin.
Online Published Date:
21 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
Practical steps for internal investigations
When potential wrongdoing is raised in an organisation, experience proves that a structured and phased approach, rather than knee-jerk reactions, will achieve the best results. Caroline Day and Matthew Burn of Kingsley Napley set out a plan of action and key legal considerations.
Online Published Date:
21 March 2024
Appeared in issue:
April/May 2024 - 09 February 2024
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