The dangers of fake medicines are due to be addressed in upcoming EU legislation but an international solution may be needed to solve a problem with global implications….
Tag Archives: fraud
FAST kicks off summer anti-piracy campaign…
The Federation Against Software Theft (FAST) has kicked off a joint initiative with Trading Standards in various locations across the UK to launch a summer education campaign against unlicensed software.
15,000 people fight back against fraudsters…
Action Fraud, the UK’s first national fraud reporting centre, has had 15,000 web reports and calls in the last six months from members of the public who have joined the fight against fraud.
CIFAS – the UK’s Fraud Prevention Service, has released Staff Fraudscape
The 28-page report that lays bare the frauds recorded by the Members of the CIFAS Staff Fraud Database during 2009.
Key Findings;
- A 45% increase in staff fraud in 2009, compared with 2008.
- A rise in theft offences such as fraudulent withdrawals from customer accounts and theft of cash.
- An overall decrease in employment application fraud (where applications for employment contain serious discrepancies or lies): with a remarkable divergence between unsuccessful employment application frauds (a decrease of 40.48% in 2009) and successful employment application frauds (which saw a 30% increase from 2008).
- A steep rise in the average length of service of a staff fraudster (prior to being recorded to the database for a proven fraud) to nearly 4.5 years in 2009, from just over 1.5 years in 2008.
- An alarming 113% increase in cases of unlawful obtaining or disclosure of personal data.
See Full report: Staff Fraudscape Report
UK software piracy losses soar to £1bn!
£1bn worth of unlicensed software was installed in the UK last year. Britain has the sixth lowest rate of software piracy in the world at 27 per cent.
Source: http://www.v3.co.uk/v3/news/2262806/uk-1bn-worth-unlicensed 
Does US Corporate Fraud Investigation put UK to shame?
In an SFO review it was identified that there were 2 causes contributing to the agency’s under-performance… those being the calibre of human capital and systematic weaknesses outside the control of the SFO. It was stated that New York has six heavy hitting prosecutors’ offices capable of managing financial crime cases and that there are just 2 in the UK, the SFO and the CPS’s Revenue and Customs Division… Is it right that in the UK it can take up to 18 months from charge to obtain a trial fixture date while in contrast the US Speedy Trial Act mandates that a trial starts within 70 days of indictment! ?
UK Fraud put at a staggering £30 billion
It’s come as no surprise that after sterling work done by the NFA (National Fraud Authority) which takes in to account many additional figures that have previously been precluded that we are faced with this huge figure. It’s the UK’s first reliable and comprehensive estimate ever. This recently launched group has had the unique position of being able to work with most of the UK’s counter fraud community to come up with this estimate. This vital figure will be used to develop clearer priorities to prevent, detect and deter fraudsters. It still seems strange inspite of this huge number, that will probably get bigger before it gets smaller, many organisations are reducing the spend levels to tackle this effectively… Who has the answer to this conundrum??
The growing cost of fraud
The national media are today reporting on the National Fraud Authority’s (NFA) estimation of the cost of fraud in the UK. The NFA’s report found that fraud costs the UK £30bn a year, equating to £621 per adult. £17bn (58%) of the losses are attributed to the public sector. This figure highlights the growing need for investigation departments to work more efficiently in identifying and invetsigating cases of fraud. With the budgets of Local Authorities set to come under sever pressure over the next few years, it is imperative that they adopt better procedures and new technology to prevent the level of fraud from increasing.
