Private Sector

An employee of a City of London company, who processed fake invoices for payment totalling almost £670,000, has been jailed.

https://www.cityoflondon.police.uk/news/city-of-london/news/2021/september/employee-jailed-for-processing-fake-invoices-totalling-almost-670000/

Amid the pandemic, limited company contractors were fuelled with government Bounce Back Loans (BBLs) to replenish cash flow and survive the unprecedented trading conditions foisted on them by covid-19.

https://www.contractoruk.com/news/0015178two_limited_company_scalps_have_been_claimed_bbl_fraud_busters_make_sure_yours_isnt_next.html

While the responsibility of auditors is often misinterpreted, the capabilities of the profession must still improve, according to market participants

https://www.accountancyage.com/2021/08/24/audit-must-dial-up-focus-to-detect-fraud-more-effectively/

A fraud investigator at Barclays has been promoting investment in his business related to development of a turmeric-based cure for Alzheimer’s disease to a scam victim, as well as to bosses at the bank, The Times reported.

https://www.easterneye.biz/barclays-adviser-lures-fraud-victim-to-invest-in-turmeric-business/

Luscombe Motors managing director Robin Luscombe has insisted that the Police and Trading Standards should not be allowed to “pick and choose” the fraud cases they investigate after falling foul of a car clocking sales scam.

https://www.am-online.com/news/latest-news/2021/08/11/.YRgWVyM4U3Y.twitter

A man from London has been sentenced for stealing £67,499.88 from his employer through bogus insurance claims and then fleeing to the United States in order to avoid prosecution.

https://www.cityoflondon.police.uk/news/city-of-london/news/2021/august/former-pet-insurance-company-employee-who-fled-to-the-us-sentenced/

FORMER Rangers chief executive Charles Green has won over £6m from the Lord Advocate in a settlement over his £20m claim for being wrongfully prosecuted in the club fraud case.

https://www.heraldscotland.com/news/homenews/19503046.ex-rangers-executive-charles-green-wins-6m-lord-advocate-malicious-club-fraud-prosecution/?ref=twtrec

The competency of PwC’s audits of classic and racing car dealer JD Classics may be questioned in the High Court after administrators from Alvarez & Marsal alleged the accountancy firm failed to spot fraud.

https://www.am-online.com/news/latest-news/2021/07/27/.YQMc2iKa-X0.twitter

A former investment banker, who was behind the bar for nine years over Britain’s biggest attempted cash fraud of £72million, is out of jail and has resumed work in a cryptocurrency firm under new name, stated a media report.

https://www.easterneye.biz/london-banker-jailed-over-72m-fraud-joins-cryptocurrency-firm-in-senior-position/

Expense fraud ranks among the most commonly occurring types of employee fraud; an estimated 5 percent of revenues are typically lost to fraud around the world.

https://www.itproportal.com/features/hybrid-working-will-fuel-expense-fraud-heres-how-we-fight-it/