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1 AUGUST 2015
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Fraud Watch

Fraud Watch is the premier title reporting on fraud and money laundering in financial services. Providing a daily news service, it publishes contributed articles from industry experts; it reports extensively on the latest compliance requirements, laws and regulatory changes, and gives very wide coverage of the latest court cases, ongoing investigations and fraud threats. It reports on security issues, including data, PCI requirements, systems security, diagnostics and forensics including the cyber threat.

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Friday, 31 July 2015

"Far too early' to make link between rise in fraud and new pensions freedom
Caution given after Action Fraud reports rise in pension scams

It is "far too early" to read anything into a reported increase in cases of pension liberation fraud and the increased freedom to access pension savings that took effect in April, an expert has said. Read more ...

 
     

Latest feature
     
 
Terror funding: What are the warning signs to look out for?

In the second of our two part article on AML controls and terrorist funding flows, John Byrne of ACAMS outlines the warning signs to look out for, and gives his Top 10 tips for controlling the problem.
Read more ...
 
     
 
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 Latest news 
 
Month's news
 
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article thumbnail News - Data securityTuesday, 28 July 2015

Jeep hack raises responsibility and liability questions
Is it time to reconsider IoT IP interconnectivity too?

"Remember Andy, whatever happens don't panic." That was the advice given to Wired journalist Andy Greenberg by ethical hackers - before they took ownership of his Jeep Cherokee from ten miles away. Read more ...

article thumbnail News - InvestigationsMonday, 27 July 2015

71 year old former bank CEO under house arrest
The former CEO of collapsed Portuguese bank BES has been put under house arrest as part of investigations into his involvement in forgery, fraud, breach of trust, tax fraud, corruption and money laundering. Read more ...

article thumbnail News - Court casesWednesday, 22 July 2015

Facebook loses data sharing appeal
US Supreme Court ruling on criminal fraud investigation warrant disappoints civil rights lobby

Facebook has been refused the right to block nearly 400 search warrants seeking users' postings for a criminal fraud investigation, an appeals court said Tuesday, but the judges said they understand the social networking site's unease about the prosecutors' extensive request. Read more ...

article thumbnail News - InvestigationsWednesday, 22 July 2015

Toshiba CEO apologises "deeply" for overstatement of £780m
US SEC investigation likely; US class action inevitable Read more ...

article thumbnail News - InvestigationsTuesday, 21 July 2015

Barclays offered DPA over Qatari investment
Deal will not cover individuals
Barclays is understood to be considering whether or not to accept a deferred prosecution agreement with the Serious Fraud Office, which would bring to a close the lengthy investigation into the bank's £2bn Qatari fundraising in 2008 - for the bank at least. Read more ...

article thumbnail News - Bribery and corruptionTuesday, 21 July 2015

FA and SFO to be quized in FIFA scandal probe
Questions over involvement of sponsors
UK MPs are to launch an investigation into the FIFA scandal in which the Football Association, the Serious Fraud Office and global sponsors will have to explain why they did not do more to expose corruption at the core of the sport’s world governing body. Read more ...

article thumbnail News - Court casesTuesday, 21 July 2015

First UK boiler room fraud prosecution achieved
City of London police have achieved their first successful prosecution of a company for boiler-room investment fraud.  Read more ...

article thumbnail News - RegulationThursday, 16 July 2015

Bank secrecy laws tested in intellectual property case
Perfume case tests rights of banks to withhold information
Banks throughout the EU will be watching with interest the Court of Justice today as it makes a judgement on the right of banks under national secrecy laws to withhold information. Read more ...

article thumbnail News - CybercrimeWednesday, 15 July 2015

Cybercriminal  forum taken down
Darkode global action results in 28 arrests

Darkode, described as the most prolific English-speaking cybercriminal forum to date, has been taken down from the internet. Read more ...

News - RegulationTuesday, 14 July 2015

FCA updates enforcement criteria for investigations
The Financial Conduct Authority (FCA) has updated the criteria and outlined the process it uses when deciding whether to refer a firm or individual to its enforcement division for a formal investigation. Read more ...

Events - General
Connect:ID 2016
Maxine Wernick - Friday, 31 July 2015

News - Data security
Jeep hack raises responsibility and liability questions
Administrator - Tuesday, 28 July 2015

News - Investigations
71 year old former bank CEO under house arrest
Administrator - Monday, 27 July 2015

News - Court cases
Facebook loses data sharing appeal
Administrator - Wednesday, 22 July 2015

News - Investigations
Toshiba CEO apologises "deeply" for overstatement of £780m
Administrator - Wednesday, 22 July 2015

News - Investigations
Barclays likely to agree to DPA over Qatari investment
Administrator - Tuesday, 21 July 2015

News - Bribery and corruption
FA and SFO to be quized in FIFA scandal probe
Administrator - Tuesday, 21 July 2015

News - Court cases
First UK boiler room fraud prosecution achieved
Administrator - Tuesday, 21 July 2015

News - Regulation
Bank secrecy laws tested in intellectual property case
Administrator - Thursday, 16 July 2015

News - Cybercrime
Cybercriminal forum taken down
Administrator - Wednesday, 15 July 2015

News - Regulation
FCA updates enforcement criteria for investigations
Maxine Wernick - Tuesday, 14 July 2015

News - Regulation
New financial court to specialise in the over £50m claims
Administrator - Monday, 13 July 2015

News - Money laundering
High-tech launderers still prefer cash, says Europol
Maxine Wernick - Thursday, 09 July 2015

News - Cybercrime
German gets 50 months for US card data theft
Maxine Wernick - Wednesday, 08 July 2015

News - Research
Spending on credit, fraud, risk and compliance analysis nears US$20bn
Maxine Wernick - Tuesday, 07 July 2015

Events - General
SDW 2016
Maxine Wernick - Monday, 06 July 2015

News - Research
Current accounts surpass mortgages as number one fraud target
Maxine Wernick - Monday, 06 July 2015

News - Bribery and corruption
SMEs still struggle with Bribery Act
Maxine Wernick - Friday, 03 July 2015

News - Investigations
Grant Thornton under fire for US$1bn bank loss in Moldova
Maxine Wernick - Friday, 03 July 2015

News - Court cases
US seeks extradition of FIFA officials
Maxine Wernick - Thursday, 02 July 2015

News - Bribery and corruption
2,200 Chinese officials investigated
Maxine Wernick - Thursday, 02 July 2015

News - Bribery and corruption
Fraud Watch comment: India corruption protest shows power of social media
Administrator - Thursday, 25 August 2011

News - Court cases
Links page
Administrator - Saturday, 16 January 2010

News - Bribery and corruption
Fraud Watch Comment: What about Wimbledon?
Administrator - Monday, 31 January 2011

News - Money laundering
Fraud Watch comment: Fine for MLRO highlights personal responsibilities
Administrator - Monday, 07 June 2010

News - Bribery and corruption
Comment: The new FCPA Guidelines analysed by BakerHostetler
Administrator - Friday, 16 November 2012

News - Cards and Payments
Comment: Counterfeit fraud - the dangers of over-confidence
Administrator - Friday, 15 April 2011

News - Court cases
Comment: Latest warnings on data hacks fail to get through
Administrator - Wednesday, 18 January 2012

News - Risk
New boss for global securities rules body
Administrator - Tuesday, 06 March 2012

News - Court cases
ICSA Labs hires malware expert
Administrator - Friday, 11 November 2011

News - Research
Pope butler arrest the year’s top fraud story?
Administrator - Thursday, 20 December 2012

News - Risk
Book Review - Managing Fraud Risk - a practical guide for directors and managers
Administrator - Thursday, 06 February 2014

News - Company news
iSignthis enters into agreement with SolidTrustPay
Maxine Wernick - Monday, 04 May 2015

News - Bribery and corruption
Alderman forced to leave OECD advisory group
Maxine Wernick - Thursday, 07 May 2015

News - Court cases
Hedge fund manager convicted of £536m fraud
Maxine Wernick - Friday, 23 January 2015

News - Risk
Linking pay to CDS reduces bank risk
Maxine Wernick - Thursday, 19 February 2015

News - Regulation
Senior managers to be held accountable for regulatory failures
Maxine Wernick - Monday, 23 February 2015

News - Cards and Payments
Target latest - Login credentials stolen
Administrator - Friday, 14 February 2014

News - Research
New fraud threat from 'less moral, more individualised’ workers
Maxine Wernick - Tuesday, 10 February 2015

News - Cybercrime
Russian-based gang steals US$1bn from 100 banks
Maxine Wernick - Friday, 20 February 2015

News - Investigations
HSBC Swiss offices are raided
Maxine Wernick - Wednesday, 18 February 2015

article thumbnail Features - ResearchWednesday, 20 May 2015

How funding sustains a foreign terror fighter
63% of AML professionals think current laundering controls are sufficient to combat terrorist funding. In the first of a two part article, John Byrne of ACAMS outlines the sources from where terrorists draw their funding. Read more ...

article thumbnail Features - CybercrimeFriday, 08 May 2015

Firms forced to confront cyberattack threat
Bank of England creates CBEST to require banks to perform penetration testing against online threats

The initiative is initially voluntary but may well become mandatory, so what are the implications for financial services companies? Read more ...

Features - Financial fraudWednesday, 15 April 2015

Tracing the proceeds of fraud and punishing offenders
Unlike many jurisdictions, the English legal system offers effective means to track down, freeze and reclaim stolen assets. Jeremy Andrews (pictured), Sarah Ellington and Gregory Pantlin of legal firm DLA Piper outline the options open to victims. Read more ...

article thumbnail Features - Data securityThursday, 19 February 2015

Attackers target low-cost POS systems
Retailers are tightening security strategies after a spate of major POS system breaches last year. Stephen Coty of Alert Logic looks at the industries hardest hit by data breaches and assesses the threats from new and emerging malware. Read more ...

article thumbnail Features - CybercrimeMonday, 02 February 2015

Cybercrime report: Who takes the blame?
When a company suffers a cyber-attack, who is held ultimately responsible – the company itself, the directors or the CISO? Where can companies turn for assistance? A special report in which fraud and security experts suggest methods of approach to a rapidly escalating problem. Read more ...

 
     
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