Category Archives: Newsletter

Positive Developments in El Salvador: Revised Anti-Money Laundering and Assets Act and Presidency of the CFATF

El Salvador suffers from a poor image when it comes to corruption and financial crime. The country scored only 39 out of 100 in Transparency International’s (TI) 2014 Global Corruption Index and only 3.8 out of 7 in TI’s 2013 … Continue reading

Posted in 2015-02, Newsletter | Tagged , , , , , , |

Credit card fraud: Italy is confirmed as one of the safest countries for card payments

Legal framework Under Italian criminal law, there are two main legal provisions that prohibit fraud committed through the use of debit or credit cards: 1. Article 55(9) of Legislative Decree no. 231 of November 21, 2007 (which implements EC Directive … Continue reading

Posted in 2014 - 12, 2014 Newsletter, Newsletter | Tagged , , , , , |

Addressing global anti-corruption enforcement trends: how Statoil’s procedures meet changing challenges

          Statoil’s oil and gas exploration and production operations are conducted on the Norwegian continental shelf and further afield in countries around the world including Angola, Azerbaijan, Indonesia, Libya and Mozambique.  In addition to its exposure … Continue reading

Posted in 2014 - 11, Newsletter | Tagged , , , , , |

Third party claims: What to do when you can’t make a claim against the fraudster

There are many reasons why a claim against the most obvious perpetrator of a fraud is either not possible or is unlikely to result in recovery by the claimant.  This could be because the wrongdoer cannot be traced, is based … Continue reading

Posted in 2014 - 10, Newsletter | Tagged , |

An introduction to cyber crime, security and digital intelligence

There are several factors determining the future shape of the cyber security landscape: The rise of the machine readable Web, also known as Web 3.0 Increasingly vast data storage Computer processing at light speed Increasingly advanced and persistent threats Slow … Continue reading

Posted in 2014 - 09, Newsletter | Tagged , , , , , , , , , |

One person’s gift, another person’s bribe: The challenge of giving gifts in China, Part II

In the second of our two-part series on giving gifts in China, we look at the rules and traditions surrounding the cultivation of bao (“social reciprocity”), through gift giving. This month, we look closely at the gift-giving rules that apply to PRC … Continue reading

Posted in 2014 - 07, Newsletter | Tagged , , , , |

One person’s gift, another person’s bribe: The challenge of giving gifts in China, Part 1

Happy New Year! It was the week before Chinese New Year. The financial year had ended weeks earlier and unpaid invoices had made a dent in the annual performance of the small family business. For months, the foreign husband, a … Continue reading

Posted in 2014 - 06, 2014 Newsletter, Newsletter | Tagged , , , , , , |

Finding the right compliance professionals for your business

The financial service compliance market has been expanding rapidly since the downturn in the financial services market in 2008 and the time Lehman Brothers went into receivership. The Financial Conduct Authority (FCA), which regulates the sector, has been imposing more … Continue reading

Posted in 2014 - 05, Newsletter | Tagged , , , , |

Extract taken from Fraud: The Counter Fraud Practitioner’s Handbook, edited by Alan Doig

Future Trends in Fraud A pan-European study of 2,246 employees by Ernst & Young (2009) found that 55 per cent of respondents expected corporate fraud to increase over the next few years: a third because changes to their business opened … Continue reading

Posted in 2014 - 04, 2014 Newsletter, Newsletter | Tagged , , , , , |

Fraud: not just an external threat

Organisations have typically been aware of the fraud risks that come from the outside, such as fraudulent applications, documents or identity crime. The same cannot always be said for the risks faced from within. And yet, fundamentally, the risks are … Continue reading

Posted in Newsletter | Tagged , , , , , , , |