Online, invisible and criminal

Adaptability is the mark of humankind and nowhere more marked than in criminal behaviour evolving to and in an online world where restraints are more likely to be imposed by peers than traditional, real-world forces of law and order. Monty Raphael QC, Celia Marr and Kate Parker of Peters & Peters reboot thinking on cybercriminal motivations and profiles.

Case Studies / Red Flags, Psychology & Profiling, Comment, Surveys and Research, Online Fraud

Sharland and Gohil – the cost of deception in divorce

Material fraud and/or non-disclosure of financial assets is not calculated to amuse an ex-spouse who settled for less in divorce proceedings. Two cases in joint appeal to the Supreme Court should offer guidance on when a consent order may be set aside, says Maeve O’Higgins of Moon Beever.

Criminal & Civil Proceedings, Dishonesty & Deception, Freezing & Restraint, Europe

UK fraudsters target immigrants in deportation scam

Asylum-seekers and illegal immigrants have been targeted in a scam unmasked by the UK’s National Fraud Intelligence Bureau (NFIB), which is part of the City of London Police force.

Law Enforcement, Confidence Schemes, Plastic Card & Payments

Hacker prosecutions miss the point, says lawyer

When the Xbox and PlayStation gaming networks were knocked offline over Christmas in December 2014, the now infamous hacking group, Lizard Squad seemingly took responsibility for this attack. Recently, Julius Kivimaki, a Finnish teenager, was convicted of more than 50,000 computer hacks and given a two-year suspended prison sentence.

Criminal & Civil Proceedings, UK Government & Public Sector, Prevention, Comment, Surveys and Research, Online Fraud

Unpaid confiscation orders prove obstinate challenge for SFO

Britain’s Serious Fraud Office (SFO) has blamed criminal financial nous after a freedom of information request from UK law firm Irwin Mitchell revealed UK£46.1 million in outstanding confiscation orders.

Criminal Confiscation & Civil Recovery, Europe

UK Government mixes the message on bribery

David Cameron used a recent speech in Singapore to pick up on the National Crime Agency’s statements that the scale of money-laundering into the UK from foreign entities was pushing up house prices.

Comment, Surveys and Research, Bribery & Corruption

UK fraud whistleblowers still facing reprisals

Eight out of 10 whistleblowers in the UK reporting fraud or corruption have suffered reprisals as a result, according to the country’s whistleblowing charity Public Concern at Work (PCaW).

Comment, Surveys and Research, Whistleblowing, Europe

Back to make good: Privy Council tests scope of recovery in stolen assets case

The recent Privy Council decision in Brazil v Durant potentially opens the door for victims of fraud or theft to trace backwards when seeking to recover stolen assets, write Charles Thomson and Henry Garfield of Baker & McKenzie.

Asset Tracing, Europe

UK could soften Bribery Act to ease exports

The recently-elected UK Conservative government is considering softening the 2010 Bribery Act after business leaders complained it was hampering exports, bringing a furious reaction from anti-corruption campaigners.

Legislation, Bribery & Corruption, Europe

City trader Tom Hayes found guilty of rigging Libor

Tom Hayes, a former UBS and Citigroup yen derivatives trader, has been found guilty of conspiring to rig Libor, the benchmark interest rate. After a nine-week trial the jury convicted him on all eight counts and the 35-year old, dubbed by one investigator “the Machiavelli of Libor”, was sentenced to 14 years in jail on 3 August.

Criminal & Civil Proceedings, Market Abuse, Europe

Toshiba CEO resigns over accounting scandal

Toshiba is counting the cost of a major financial statement fraud, which has already led to chief executive and president Hisao Tanaka resigning on 21 July.

Financial Misstatement, Asia-Pacific

Intellectual property infringement & a banker’s dilemma

A German bank could not rely on the national civil procedure code to prevent disclosure of the identity of an account-holder, accused of selling counterfeit products online, to the intellectual property rights-holder, the European Court of Justice has ruled. The clash of EU IP enforcement and data protection law will resound in future litigation predicts Gareth Dickson of Cooley (UK) LLP.

Criminal & Civil Proceedings, Intellectual Property Fraud, Europe

UK eyes tougher penalties for offshore tax evasion

The UK government is planning tough new penalties to combat offshore tax evasion and those who enable it.

Legislation, Tax & Excise, UK Government & Public Sector, Tax Fraud, Europe

OLAF annual report fights criticism, claims record effectiveness

The European Union’s (EU) anti-fraud office OLAF has contested recent criticism about its operations, notably from its Supervisory Committee, with statistics highlighted in its latest annual report, for 2014.

International agencies, Law Enforcement, Investigation, Europe

Seeing through corporate transparency plans

Moves to establish a public register of companies’ beneficial owners in the UK have sparked robust criticism. Does the initiative represent political puff or a paradigm shift in global transparency standards? asks Lloyd Firth of Wilmer Hale.

Corporate Vehicles / Trusts, Legislation, Investigation, Europe

First World Bank procurement review: anti-corruption implications

The World Bank is, for the first time in its 70-year history, conducting a comprehensive review of its procurement policy and procedures. Alison Geary of WilmerHale looks at how the framework is tightening.

International agencies, Prevention, Bribery & Corruption, Vendor, Supplier and Procurement Fraud

Eurojust and Europol swoop in Europe-wide cybercrime crackdown

European Union (EU) judicial and police agencies Eurojust and Europol joined forces on 10 June for a cross-border European clampdown on cybercrime leading to 49 arrests.

International agencies, Law Enforcement, Online Fraud, Africa, Europe