The far-reaching tremors of the Supreme Court’s judgment in Prest  earlier this year have been well documented, not least because of the limitations seemingly placed on the Court’s ability to pierce the corporate veil. Charles Thomson and Andrew Matheson of Baker & McKenzie consider the impact of Prest on the Court of Appeal decision in R v Sale .
Campaigners for greater protection for whistleblowers hope that recommendations published by an independent commission which consulted on the effectiveness of whistleblowing in the workplace, will lead to new measures in the UK.
Authorities in Italy have seized and frozen assets belonging to a Rome company that abused financing from the European Development Fund (EDF) destined for development projects in some of the poorest parts of Africa.
Doing business in the Former Soviet Union (FSU) is undoubtedly fraught, but for many companies – particularly those in the oil, gas or mining sectors – it is a risk worth taking. Maggy Wilkinson and Rik Workman of Forensic Risk Alliance outline how to operate with eyes peeled for warning signs.
“My rackets are run on strictly American lines,” Al Capone reportedly said. Organised criminals today also exploit prevailing business concepts – but in doing so they are unrecognisable from the gangsters of popular imagination, says the UK National Cyber Crime Unit’s deputy head Lee Miles.
David Green, the UK Serious Fraud Office’s soft-spoken but tough-talking head of 18 months, has openly rejected a previous implication under his predecessor, Richard Alderman that cases of self-reported misconduct would generally be dealt with by civil settlements. In practice, however, the degree to which there has been a change of policy is more nuanced, reports Esther Martin.
There may be comparatively few cases of financial statement fraud, yet they are the costliest type of attack . In the first article in a two-part series, Gerry Zack examines revenue recognition and asset valuation abuses using recent real examples.
There is “no change and no watering down of the law or the guidance” around bribery, Alun Milford, general counsel at the Serious Fraud Office told the World Bribery & Corruption Compliance Forum in London on 15 October.
Cross-border tax currents: EU to move goalposts on evasion, OECD pursues global information exchange
The European Commission is attempting to move the legal boundary where tax avoidance becomes tax evasion, criminalising some aggressive tax planning that has caused controversy across Europe.
Communications with lawyers or even prosecuting agencies are not all protected from disclosure as two recent cases make clear. Andrew Keltie and Charles Thomson of Baker & McKenzie trace the boundaries of privilege.
Technology to detect fraud is cost-effective and can infer patterns otherwise unseen but quizzical human interrogation of data will always be needed; if only customers could be recruited to the cause: banks are starting to test the idea. Alan Osborn reports from London while Julian Ryall provides the view from Tokyo and Raghavendra Verma from New Delhi.
Anti-corruption campaigners have urged the European Commission to devise powerful European Union (EU) whistleblower protection, possibly through a Directive.
The European Union’s anti-fraud office OLAF has unveiled a report that signals sizeable losses directly caused by corruption in public procurement.
FINANCIAL CRIME NEWS
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