The Supreme Court has today given judgment in The Republic of Mozambique (acting through its Attorney General) (Appellant) v Privinvest Shipbuilding SAL (Holding) and Others (Respondents) [2023] UKSC 32. In a judgment given by Lord Hodge, Deputy President of the Supreme Court, with whom Lord Lloyd-Jones, Lord Hamblen, Lord Leggatt and Lord Richards agree, the […]
He may have served his time, but in an attempt to clear his name, former rates trader Tom Hayes, announced last month that his conviction for manipulating the Libor benchmark rate was being referred to the UK’s Criminal Cases Review Commission. All those accused of Libor rigging in the US, including Hayes, have been acquitted […]
Last month, after months of speculation, it was announced that the new director of the Serious Fraud Office (SFO) was going to be Nick Ephgrave. Ephgrave was the former chief constable for Surrey Police, assistant commissioner of the Metropolitan Police Service, and most recently held a role that overlapped with his responsibilities as assistant commissioner, […]
Every year, the UK economy could be losing as much £219 billion to fraud. This colossal figure is one of they key findings of the 2023 Annual Fraud Indicator (AFI), a round-up of the cost of fraud in the UK published by Peters & Peters Solicitors in conjunction with national audit, tax, advisory and risk […]
Earlier this month, the Supreme Court handed down its judgment in Philipp v Barclays Bank UK PLC, which deals with the circumstances in which a bank can be held liable for not preventing a customer from being defrauded. The judgment offered much-needed clarity on the nature of the Quincecare duty and the obligations that banks […]
In March, the UK government released its Green Finance Strategy, setting out plans to attract investment to help achieve the country’s net zero ambitions. Then, a month later, the National Fraud Strategy came out, revealing that fraud is “by far” the UK’s most common crime, representing 40% of offences in England and Wales. However, no […]
From fake goods, scam emails, counterfeited artwork, mislabelled foods to the perils of falling prey to all those crypto adverts, fraud is everywhere. In this article for Fraud Intelligence, Keith Oliver and Caroline Timoney embark on a whistlestop tour through the history of fraud, uncovering how many old scams have modern versions today. They discuss […]
Fraud now accounts for 40% of all crime and, in May, the government published its national fraud strategy – the latest official document attempting to address this epidemic. The ambition is for fraud to be reduced by 10% by December 2024 on 2019 levels, by “tackling fraudsters head on, protecting the British people’s hard-earned cash […]
The Attorney General, Victoria Prentis KC MP, has announced that former senior police officer Nick Ephgrave QPM will be the next director at the Serious Fraud Office (SFO). Ephgrave was assistant commissioner of the Metropolitan Police in charge of frontline policing between 2019 and 2022 and, before this, he was the Chief Constable for Surrey […]
The Financial Conduct Authority (FCA) has fined ED&F Man Capital Markets Ltd (MCM) over £17.2 million ‘for serious failings in its oversight of cum-ex trading’. The FCA said that these failings allowed the broker to collect fees for trading strategies designed to enable clients to reclaim tax illegitimately from the Danish authorities. According to the […]
