Ten tips from an anti-fraud titan

Founder of the Association of Certified Fraud Examiners Joseph Wells gave his final speech at the recent annual conference, held in San Antonio.

Investigation, Psychology & Profiling

Bribes and secret profits: the significance for bankers and trustees

On 16 July 2014 the Supreme Court delivered a much anticipated judgment on whether a principal has a proprietary claim to a bribe or secret commission paid to its agent. Charles Thomson and Andrew Keltie of Baker & McKenzie examine the facts, rationale and implications of the decision in FHR European Ventures LLP and Ors v. Cedar Capital Partners LLP.

Criminal & Civil Proceedings, Bribery & Corruption, Europe

Keep agile against mobile digital fraud

Diverse and multiple forms of authentication should be employed against the mobile digital fraud threat, says Mark Somers of 4Most Europe. He outlines the latest developments.

Detection, Prevention, Technology, Telecoms Fraud

Global tax information exchange moves closer

The Organisation for Economic Cooperation and Development (OECD) has issued the full version of new global guidance for governments swapping financial data to tackle tax evasion.

International agencies, Tax Fraud

European currents – Brussels says member states must do more to protect EU interests

The latest European Commission annual report on European Union (EU) anti-fraud measures has highlighted concerns that member states may be doing far too little to detect EU-related financial crime.

Criminal & Civil Proceedings, Prevention, Surveys & Research, Europe

Filthy lucre: digging for tunnel workers’ stolen pensions

Tunnel construction workers whose retirement funds were plundered of millions of dollars told a New York court they were having to work in their late 60s and 70s. David Zweighaft reports on how forensic accountants helped federal prosecutors identify the stolen assets and provides practical tips on case management.

Asset Tracing, Criminal Confiscation & Civil Recovery, Disclosure, Case Studies / Red Flags, Data Mining & Analysis, Investigation, Internal Fraud, North America

Transparency International guide aims to tackle small bribes

Transparency International (TI) has issued a free, detailed guide to countering small bribes after research by the anti-corruption organisation found one-in-four people globally paid a bribe in a recent 12-month period.

Case Studies / Red Flags, Prevention, Surveys & Research, Bribery & Corruption

Sweett Group assists SFO over bribery investigation

International property and infrastructure services group Sweett says it has been cooperating with the UK’s Serious Fraud Office (SFO) after the agency confirmed it is investigating bribery allegations involving the company’s past operations in the United Arab Emirates and elsewhere.

Law Enforcement, Bribery & Corruption

Individuals versus companies accepting DPAs: winner takes all?

Unlike the leniency policy available to the Competition and Markets Authority (CMA) – which encourages cooperation between an errant company and employee – the combination of Deferred Prosecution Agreements and agreements for cooperating defendants risks creating opposing interests, argues Neil Swift of Peters & Peters.

Criminal & Civil Proceedings, Bribery & Corruption, Europe

Patently pending- IP protection in MENA

Serious political unrest and armed conflict are valid excuses for inattention to intellectual property rights in parts of the Middle East and North Africa, but across the region the record is less than encouraging for businesses with brands and other intangible interests to defend. Paul Cochrane reports from Beirut.

Intellectual Property Fraud, Middle East

EU acts on organised crime - but will it work?

If the European Parliament’s proposals to tackle organised and economic crime are bold, practitioners believe the prospects of success are mixed. Robert Stokes and Carmen Paun report.

Criminal Confiscation & Civil Recovery, International agencies, Bribery & Corruption, Europe

Restricted view – corporate intelligence in China

Chinese authorities are moving to limit public access to data on local companies and their ownership even as President Xi Jinping pursues his anti-corruption drive. Mark Godfrey in Beijing reports on the new, tougher operating environment for investigators.

Due Diligence, Investigation, Asia-Pacific

Asset lock-down – use and limits of freezing orders

An English freezing order may be sought with worldwide coverage of a fraudster’s assets but those are subject to definition. Jeremy Andrews, Sarah McMurray, Oliver Felton and Maria Scott of DLA Piper explore terms and application of the most potent form of ancillary relief.

Freezing & Restraint, Europe

Test positive – a nuanced advance in detection technology

Customers come first - unless fraud is suspected - writes Scott Zoldi of FICO, and the race is on to refine automatic checks on their spending to better pinpoint the truly dishonest.

Data Mining & Analysis, Detection, Prevention, Psychology & Profiling, Technology

Cloud control: protecting data on remote servers

Which encryption algorithms will protect your sensitive information during processing and transit? What authentication mechanisms will a cloud provider offer? Lee Campbell presents some methods and controls to protect information stored as well as transferred in and out of the cloud.

Information & Systems Security, Prevention

Swiss banks gain time to disclose US-taxable customer accounts

The US government has extended by a month the deadline for some programmes under which Swiss banks could signal their intent to strike agreements with the US Department of Justice (DoJ) to avoid prosecution over concealment of the taxable assets of US citizens.

Tax Fraud, Europe, North America

Anti-corruption efforts falter, cybercrime risk rating mixed in global survey

Companies may be experiencing compliance fatigue, six years after the financial crisis, as they struggle to meet increased regulatory demands, EY warns in its 13th Global Fraud Survey

Surveys & Research, Bribery & Corruption, Internal Fraud, Online Fraud