Fraud Newsletter 58 – August 2021
Liability for cyber hack: customer’s personal data neither disclosed nor misused by company when accessed by 3rd party hacker: no common law duty of care as DPA 98 duties operate: Warren v DSG Retail Ltd  EWHC 2168 (QB).
LPP: Application of dominant purpose test: PWC investigation report commissioned followed by press report alleging plot to drive down value of Qatar’s bonds not protected by litigation privilege: useful summary of authorities -: Qatar v Banque Haviland SA  EWHC 2172 (Comm).
Prosecution, conviction and imprisonment for misconduct in public office by prison officer selling information to press over 5 years is not a breach of human rights: Norman v UK (2021) ECHR Application No. 41387/17.
SENTENCING AND CONFISCATION
S9 POCA Calculation: value of stolen property where rightful owner unidentified is “available” to the thief under s9 POCA for purposes of calculation as thief has possessory title: Seed  EWCA Crim 1198.
Benefit includes all salary and bonuses (net of tax paid by PAYE) as well as secret profits and pension funds where individuals defrauded company over many years and would have been sacked if true position known: the salaries (£4.2m) cannot be taken into account when assessing compensation: Asplin  EWCA Crim 1313.
BILLS, STATUTES & STATUTORY INSTRUMENTS
Nothing of moment.
CONSULTATIONS, GUIDANCE, CIRCULARS AND REPORTS
2021 Anti-Bribery and Corruption Benchmarking Report: Kroll Associates 10 June 21 with links to Kroll articles on:
- Third-Party Risk Management – How Compliance Officers Have Adapted Their Programs During COVID-19
- The Changing Role of ESG and its Impact on the ABC Landscape
- How New Governments Impact ABC Enforcement
- Evolving Challenges with Enhanced Due Diligence
- The Role of Automation Technology in ABC Programs
Bribery and corruption: domestic and international developments: Claire Broder: HL Library: 27 Aug 21.
· Monzo Bank in money laundering investigation: BBC News: 31 Jul 21
· Fraudster jailed for failing to pay confiscation order: 9 years re £5.2m order: 2 Aug 21
· investigation into Gavin Woodhouse and associates: 9 Aug 21.
· 5 charged with bribery and money laundering: investigation started Feb 2017: 17 Aug 21.
· Successful private prosecution of businessman on £2.5m fraud: Emmlegal: 2 Aug 21.
· Nirav Modi wins right to appeal extradition to India re £729m bank fraud charge on mental health and inadequacy of India’s prison system grounds: The Art Newspaper: 10 Aug 21.
· KPMG Fraud Barometer for Jan to June 21: UK fraud trials double to 151: Aug 21
· Ex MP charged with 7 counts of expenses fraud: BBC News: 19 Aug 21
· 30 Years of tracking fraud: 64 page report from KPMG Fraud barometer, (includes article by David Green).
· Magna Group mini-bond companies shut down for mis-selling £20m + of loan notes and taking £2 m from investors after the companies were insolvent: Insolvency Service:
· Children’s charity backed by Blairs and taxpayer millions investigated amid fraud claims: The Times 23 Aug 21.
EU & ABROAD:
- BitMEX Crypto Exchange to Pay $100 Million to Settle Probes: Bloomberg: 10 Aug 21.
- Allianz faces DoJ probe: 6 Aug 21: Reuters with estimated losses resulting from investigation and civil settlements at US $4.1B: Reinsurance News: 18 Aug 21.