Cases of fraudsters trying to steal people's bank details more than tripled in the first three months of the year compared with the same period in 2007.

UK payments association Apacs said there were 10,235 so-called phishing attacks in the first quarter of the year, up from 3,394..... continued

Related article: Phishing

Bogus stockbrokers con victim out of £½m

10 Apr 2008

COLD-CALLING bogus stockbrokers have fleeced £500,000 from an investor in a classic "boiler room" fraud – a multi-million pound international crime that police warn is on the rise in the UK..... continued

Related article: Share (Boiler Room) Scams

Identity fraud: Keeping your ID safe

10 Apr 2008

Identity fraud now costs UK consumers and businesses £20bn a year. Linda Summerhayes investigates what you can do to minimise the risks of becoming a victim of this growing problem..... continued

Businessman admits to £70,000 credit fraud

07 Apr 2008

A MAN has admitted a £70,000 fraud by ordering goods on credit he did not intend to pay for.

Andrew Lee, 26, ordered thousands of pounds worth of items on credit, giving suppliers fake credit references for his Midlothian-based company..... continued

Crackdown on £20bn a year fraud

26 Mar 2008

Fraud is costing the UK £20bn a year, the police say, as they plan to expand their efforts to tackle it.

The City of London Police is recruiting for a national fraud crime force, claiming that the impact of the crime is second only to drug trafficking..... continued

Victims of fraud scams speak out

18 Mar 2008

A father and daughter in the US could go to prison if they are found to be guilty of swindling an estimated $70m (£34m) out of more than 150,000 British citizens though a share scam..... continued

Related article: Share (Boiler Room) Scams

Boiler room victims get cash back

12 Mar 2008

More than £1m has been recovered for 153 UK victims of fraudulent overseas share-selling operations, known as "boiler rooms".

The Financial Services Authority (FSA) said it had helped the authorities in Canada retrieve most of the £1.25m that had been sent there..... continued

Related article: Share (Boiler Room) Scams

Plastic card fraud goes back up

12 Mar 2008

There was a 25% rise in the fraudulent use of UK credit and debit cards last year, with losses amounting to £535m, according to the banking industry.

The Association of Payment Clearing Services (Apacs) said the first rise in three years was mainly due to stolen and counterfeit cards used abroad..... continued

The changing face of gangland crime

10 Mar 2008

Crime (UK) Ltd is under new management, and it is largely foreign owned. Police across Britain are grappling with a new generation of criminal "kingpins", whose empires span the globe and who model their operations on legitimate multinational companies..... continued

Mortgage fraud 'is funding crime'

06 Mar 2008

High profits and low risk are attracting organised criminals to mortgage fraud, police have warned.

The Association of Chief Police Officers (ACPO) says property sales are also being used to launder money made from drugs, trafficking and prostitution..... continued

Customs officer admits tax scam

28 Feb 2008

A CUSTOMS officer has admitted defrauding HM Revenue and Customs of £120,000 by filling in false tax claim forms.

Craig Gordon pleaded guilty after four-and-a-half weeks of evidence at his fraud trial at Edinburgh Sheriff Court today..... continued

Related article: Employee Fraud

'Natwest Three' sentenced to 37 months in jail

25 Feb 2008

THE NatWest Three bankers were each sentenced to 37 months in jail today after pleading guilty to an Enron-related fraud in a deal with US prosecutors.

David Bermingham, Gary Mulgrew and Giles Darby, all 45, were extradited to the US under a controversial treaty 20 months ago and pleaded guilty at the US district court in Houston, Texas, in November..... continued

FSA clamps down on fraudulent mortgage brokers

14 Feb 2008

Nearly 70 mortgage brokers face legal action after being suspected of mortgage fraud by the Financial Services Authority.

The City watchdog said that it has referred one third of 200 brokers under investigation to its enforcement division, after tip-offs from mortgage lenders about suspected fraudulent mortgage applications..... continued

OFT launches nationwide 'Scamnesty' campaign

12 Feb 2008

The OFT is today (5th February) launching a nationwide 'Scamnesty' campaign asking the public to help in the fight against scams, which cost the UK an estimated £3.5 billion a year.

As part of Scams Awareness Month the OFT, in partnership with over 50 local authority Trading Standards Services, is asking members of the public to collect any potential scam mailings they have recently received and drop them into designated 'Scamnesty' bins or boxes at local libraries and other public areas across the country..... continued

Related article: Consumer Direct crime prevention advice

Former city taxman on trial for £190,000 fraud

08 Feb 2008

A MAN has gone on trial in Edinburgh charged with defrauding HM Revenue and Customs out of more than £190,000.

Craig Gordon, 36, of Calder Place, Sighthill, has denied that between February 19, 2003, and December 16, 2004, while employed at the HMRC's Lothians 2 Area office in Broomhouse Drive, he formed a fraudulent scheme to obtain money..... continued

Related article: Employee Fraud

£11m fraud man ordered to repay £200k

08 Feb 2008

A FORMER insurance firm director who carried out a near £11 million fraud has been ordered to hand over £200,000 crime profits.

John "Jack" Walker perpetrated one of Scotland's largest financial crimes after thousands of insurance policies were sold through his firm which were not underwritten..... continued

UK fraud 'reaches 12-year high'

05 Feb 2008

Fraud levels in the UK have reached a 12-year high, according to a study by accountancy group KPMG.

The total value involved in fraud cases going to court last year was more than £1bn, said KPMG Forensic, the firm's anti-fraud investigations team..... continued

£30,000 loans fraudster sentenced

30 Jan 2008

A LOAN collector who defrauded almost £30,000 from her employers has been ordered to carry out 300 hours of community service.

Marie Smith, 39, was paid to sell high-interest loans to people on low incomes but set up fake loan agreements in false names..... continued

Warning over lottery scam issued

28 Jan 2008

Fraud officers have issued a warning for locals to be on their guard after several people were conned out of thousands of pounds in a lottery scam.

The scam works using a letter or e-mails to inform someone that they have won a substantial sum of money..... continued

Con-artist jailed for swindling pub customers

16 Jan 2008

A SERIAL con-artist who tricked thousands of pounds out of customers in a village pub through bogus holidays was today jailed for two and half years.

Pub manager Mary Brown, 46, befriended the patrons at the Anchor Inn in South Queensferry and promised them cheap trips abroad through her 'contacts' in the travel world..... continued

Your credit rating explained

10 Jan 2008

Individual lenders use their own criteria when deciding whether or not to lend you money, but they rely heavily on data supplied by credit reference agencies.

BBC News explains how they work, the information they hold, and how you can check and challenge your credit file..... continued

Related article: Credit Reference Agencies

2007 2007

All you need to know about ID fraud

28 Dec 2007

Here, The Scotsman looks at what identity fraud is and who is committing it against whom. We also explain how you can do your best to protect yourself - first by preventing your details from falling into the wrong hands and, if that does happen, how to prevent the details being used for criminal ends..... continued

Fraudsters making millions by stealing the identities of dead Scots

18 Dec 2007

CRIMINAL gangs are stealing the identities of 200 dead Scots a week in a rapidly growing trade now worth tens of millions of pounds a year, the Government admitted last night.

In the past year alone, fraudsters targeted almost 10,000 recently deceased Scots, stealing mail and using the information gleaned to run up bills for goods and services worth thousands of pounds..... continued

Norwich Union fined on £3m fraud

18 Dec 2007

Insurance firm Norwich Union has been fined £1.26m by the Financial Services Authority (FSA) after customers lost £3.3m through identity fraud.

Slack security checks at its call centre let fraudsters impersonate customers and cash in their policies..... continued

Cybergang raises fear of new crime wave

15 Nov 2007

The most notorious player in global cybercrime has suddenly vanished from the web, sparking fears that the Russian-based group is set to re-emerge as an even greater threat from a new base in China.

Security experts believe that the Russian Business Network (RBN), a shadowy organisation based in St Petersburg and run by a figure known only as “Flyman”, has played a role in most of the online crime committed in the UK in recent years..... continued

Revenue worker jailed for fraud

08 Nov 2007

An Inland Revenue worker who went on the run after being involved in a tax fraud has been jailed for two-and-a-half years.

Nasir Ahmed, 39, also known as Sunny, carried out the fraud while working at the tax office in Livingston between 2003 and 2004..... continued

Related articles: Revenue worker jailed for fraud / Employee Fraud

Fraudsters see more than a pretty face

23 Oct 2007

MORE than 16 million people are registered with Friends Reunited and it is estimated that 28 million are members of Facebook - and the majority are leaving themselves open to ID fraud.

Equifax, the online credit information provider, has found that 30 per cent of respondents to a survey did not make use of the security settings on "social networking" sites..... continued

Corruption is rife in British business

23 Oct 2007

· Number of firms affected in UK is twice the average
· Up to 4% of GDP being lost to economic crime

Britain is becoming a hotspot for corruption and bribery and the number of British companies affected by economic fraud in the past two years is almost twice the global average, according to a report released today by PricewaterhouseCoopers..... continued

Related article: Employee Fraud

Police smash £1bn internet fraud gang

09 Oct 2007

· Arrests follow raids in UK, US, Canada and Nigeria
· Huge haul of fake cheques and money orders seized

British police yesterday hailed the arrest of an international gang of fraudsters as a landmark victory against internet crime, following a sting across four countries. More than £8.5m worth of fake cheques and other fraudulent documents were seized in a series of overnight raids across the UK in a joint operation overseen by Britain's Serious and Organised Crime Agency (Soca)..... continued

MPs call for identity fraud tsar

09 Oct 2007

An "identity fraud tsar" should be appointed to oversee attempts to tackle the crime, a group of MPs has said.

The All Party Group on Identity Fraud said a tsar was needed to co-ordinate the work being done by the government, police and private sector..... continued

Whistleblowers can play a big role in netting dishonest staff

03 Oct 2007

The majority of commercial frauds are committed by employees or former employees, according to David Dearman. In 12 years of investigating fraud, all the cases he has looked into involved staff..... continued

Related article: Employee Fraud

'Hologram Tam' jailed over counterfeit millions

03 Oct 2007

TO PASSERS-BY, it was an ordinary shopfront in an unremarkable part of Glasgow. Aside from a lucrative niche turning out menus for Asian takeaways, Print Link did little to draw attention to itself.

But now the premises have emerged as the base of one of the most sophisticated counterfeiting operations ever seen in Britain, producing fake banknotes that were found across the country..... continued

Surge in credit card fraud abroad

03 Oct 2007

Fraud on UK credit and debit cards has risen again, driven up by the use of counterfeit cards in foreign countries.

The banking payments body Apacs says fraud abroad rose by 126% in the first half of the year, compared with the first six months of 2006..... continued

Asylum-seeker jailed for £11,000 mail-office scam

06 Sep 2007

AN ASYLUM-seeker has been jailed after stealing thousands of pounds while working at the Royal Mail in Edinburgh.

Adebiyi Adebayo, 29, who worked in the sorting office, stole chequebooks, passports and driving licences..... continued

Related article: Employee Fraud

Project manager steals £15,000 in finance scam

06 Sep 2007

A CITY charity worker set up a fictitious company so she could steal £15,000 from her bosses.

Olive Yang, 56, was project manager for the learning charity Adult Student Link based in Castlebrae High School when she embezzled the sum using cheques and internet banking..... continued

Related article: Employee Fraud

Watchdog in phone scam warning

04 Sep 2007

The Office of Fair Trading is warning people not to give their bank details to cold callers after a new scam, using the watchdog's name, came to light.

The OFT said a number of consumers have been telephoned by callers claiming to be from the watchdog and able to reclaim bank charges on their behalf..... continued

It's an unfair cop: African fraudsters hijack Interpol as cover for global scam

04 Sep 2007

IT IS the world's leading criminal intelligence service renowned for helping track down fugitives on all five continents. But now Interpol is itself under attack from a team of West African con-men who are using the organisation as a cover for their fraud.

In the latest in a series of scams, e-mails bearing Interpol's name have been sent out across the globe..... continued

Sister jailed for identity theft

29 Aug 2007

A woman who stole her sister's identity to secure a mortgage and new job has been jailed for 15 months.

Jeannie Smith, 45, from Denny, near Falkirk, pretended to be her sister Linda Cowan, 35, obtaining £123,000 of goods in the process..... continued

Evening class helper pocketed £1,600 fees

29 Aug 2007

A COUNCIL worker who helped run a night school pocketed more than £1,600 of her students' money.

Clerical assistant Jo Samson helped organise evening classes for a range of activities at Tynecastle High on behalf of Edinburgh City Council..... continued

Related article: Employee Fraud

Pensioner duped by lottery scam

16 Aug 2007

A pensioner from Edinburgh has been duped into handing over hundreds of pounds to an overseas lottery scam.

The 85-year-old woman was targeted by fraudsters who called her from abroad, claiming that she had won £1m on a Canadian lottery..... continued

Business fraud in UK rises 42%

14 Aug 2007

Business fraud is becoming more attractive because of growing rewards and falling chances of prosecution, according to BDO Stoy Hayward.

Its Fraudtrack report found that fraud involving businesses hit £538m in the first half of 2007, up 42% from 2006..... continued

Related article: MTIC Fraud

Plan to reward whistle-blowers should be welcomed

31 Jul 2007

The UK is considering an American-style system of asset recovery in fraud cases that will enable individuals to sue on behalf of the Government..... continued

'Step-change' in UK fraud level

31 Jul 2007

Fraud levels in the UK have undergone a dramatic change and show no sign of turning back, according to KPMG's latest Fraud Barometer..... continued

Money confiscated from fraudster

31 Jul 2007

The bank manager behind Scotland's largest single fraud is to have £63,000 confiscated from him..... continued

Big rise in overseas credit card fraud

31 Jul 2007

Holidaymakers were warned to keep a watchful eye on their credit card today after new figures revealed that card fraud is on the rise overseas..... continued

Beware the ID fraudster living next door

31 Jul 2007

People living in communal blocks or flats are at particular risk of becoming a victim of fraudsters, a report has found.

This “current address fraud” accounted for more than a third of the 40,000 instances of identity fraud recorded in the first six months of the year..... continued

Fraudsters finding ways to sidestep technology advances

31 Jul 2007

FRAUD - including plastic card, cheque and online fraud - is a huge problem for Scots.

The scale of the issue is clear from a new publication from APACS, the UK payments association, Fraud, the facts 2007..... continued

Click here for 'Fraud The Facts 2007'

Web networkers 'at risk of fraud'

31 Jul 2007

People who use internet networking sites are being warned that they could be at risk of identity theft.

Credit information group Equifax said members of sites such as MySpace, Bebo and Facebook may be putting too many details about themselves online..... continued

Seizure of ill-gotten gains hits record £6m in a year

05 Jul 2007

MORE than £6 million has been seized from criminals in Scotland over the past 12 months.

The record sum brings the total amount confiscated from drug dealers, money launderers and fraudsters to £15.5 million since 2003, when the Proceeds of Crime Act was introduced in Scotland..... continued

UK and US regulators to join forces against fraud

27 Jun 2007

Financial regulators on both sides of the Atlantic plan to collaborate more closely to create a united front against insider trading, as the growth of cross-border deals and innovations in technology transform corporate fraud into a global business..... continued

MP's son guilty of huge cash scam

22 Jun 2007

The son of millionaire businessman and Labour MP Mohammed Sarwar has been convicted of an £850,000 money laundering scam..... continued

Related article: MTIC Fraud

Revoke the phishing licence

21 Jun 2007

The effect of having your details stolen via a bogus website can be devastating. Danny Bradbury looks at what the big players are doing to stamp out the problem..... continued

Includes links to 'An Empirical Analysis of the Current State of Phishing Attack and Defence', 'Why Phishing Works' and 'The Emperor’s New Security Indicators'.

Related article: Phishing

Revenue warns about more frauds

19 Jun 2007

Tax payers have been warned to beware of more frauds using the name of HM Revenue and Customs (HMRC)..... continued

Six jailed after Customs brings mobile carousel fraud to a halt

14 Jun 2007

Six men have been sent to prison for a total of nearly 48 years for their part in an elaborate carousel fraud that robbed the taxpayer of £85m..... continued

Related article: MTIC Fraud

Thousands burnt by ‘boiler room’ fraud

05 Jun 2007

A huge “boiler room” share fraud with as many as 10,000 suspected victims is being investigated by the City of London Police..... continued

New rules to stop carousel fraud

04 Jun 2007

New measures to counter a multi-billion pound tax fraud have come into effect..... continued

Related article: MTIC Fraud

A decade of online banking - and online fraud

28 May 2007

Ten years ago, people in the UK could be forgiven for thinking that their relationships with their bank were predominantly about one thing..... continued

Related article: Phishing

Click here to access the Wikipedia entry on Keystroke Logging

Mastermind of £2.4m banks fraud gets five years

17 May 2007

The mastermind of a gang of fraudsters who used leaked bank account information to steal £2.4m from wealthy customers was yesterday jailed for five years by a judge who described him as "the managing director" of the sophisticated conspiracy..... continued

Related article: Employee Fraud

Safety pin

14 May 2007

It will be the biggest change in how we bank since chip and pin made signing for a credit or debit payment seem a thing of the past. Most of Britain's top banks - except HSBC and First Direct - are due to send out millions of "chip and pin at home" gadgets to customers who bank online, as an extra defence in the anti-fraud battle..... continued

Warning over bogus e-mail fraud

11 May 2007

Criminal gangs are using e-mails containing bogus Channel Island company names to con people out of money.

The e-mail is reportedly from Mr Robert King who works for the Guernsey International Fund Management Limited..... continued

'Catch me if you can' - teen just did it again

11 May 2007

Plasma TVs, printers, vacuum cleaners: Britain's worst internet con artist promised them all, but delivered nothing. And the day after he was convicted, he was at it again..... continued

Police in cash scam warning

09 May 2007

POLICE today issued a warning to Lothian businesses over a scam where criminals defraud cash by pretending to be one of their regular customers..... continued

Fake students net loan millions

08 May 2007

Criminal gangs have obtained millions of pounds in student loans by enrolling "ghost students" in universities, a BBC investigation has found..... continued

It's easy money, says online fraudster who stole £250,000

03 May 2007

Despite tougher security, identity and credit card theft are at an all-time high..... continued

City watchdog needs to tighten grip on financial crime, says Audit Office

02 May 2007

Britain's main City watchdog, the Financial Services Authority (FSA), must do more to tackle financial crime and needs to get a proper grip on its £270m budget, according to an independent report published yesterday..... continued

FSA Website

Dirty money exploits housing boom

30 Apr 2007

Where there is money to be made, the chances are there is money to be stolen too.

Take the UK property market. With house prices rising by double-digit percentages each year, it would hardly be surprising if conmen and fraudsters were licking their lips at the prospect of such a juicy target..... continued

Forget your PIN number and password - just use your voice

30 Apr 2007

A new British company will today launch a service using that most basic human trait - a recognisable and distinctive voice - to combat credit card and online banking fraud..... continued

The dial-through fraudsters using VoIP to outwit detectives

26 Apr 2007

Telephone switchboard hacking is not new, but criminals are now using the latest technology to cover their trails..... continued

Woman jailed over £108,000 'phantom staff' con

25 Apr 2007

A CASHIER who stole more than £108,000 from a luxury hotel by paying bogus wages for ten fake employees into her own bank accounts was yesterday jailed for two years..... continued

Related article: Employee Fraud

Woman jailed for £300,000 fraud

24 Apr 2007

A NIGERIAN woman who defrauded a building society out of almost £300,000 in just four months was jailed yesterday for 12 months.

Sitting in Edinburgh, Sheriff Gordon Liddle told Tyna Gray, 28, that her actions "almost beggared belief"..... continued

Barclays steps up online security

18 Apr 2007

Barclays Bank is handing out handheld chip-and-pin card readers as part of a new online security initiative.

Average fraudster is middle-aged, male and the boss

17 Apr 2007

The myth of the lonely, disaffected employee as the main perpetrator of corporate fraud was destroyed yesterday by a report from accountants KPMG that argues senior management are more to blame..... continued

Related article: Employee Fraud

Fraudsters target people's homes

17 Apr 2007

Victims of identity fraud are now more likely to be hit in their present homes than at their previous addresses, a credit check company has claimed.

Financial information company Experian said fraud against someone at their present address rose from 35% to 45% in the second half of last year..... continued

What is badware and why should I worry about it?

29 Mar 2007

It's stuff that sneaks on to your PC and messes with it. At its least malevolent, badware infests your PC with popups and tracks your surfing details via an application that has crept on to your system without your knowledge or permission. At its worst, "badware" - an over-arching term for all sorts of spyware, adware, viruses and Trojan horse programs - is implicated in identity theft and credit card fraud..... continued

Many net users 'not safety-aware'

28 Mar 2007

Fewer than half of the UK's 29m adult internet users believe they are responsible for protecting personal information online, a survey suggests..... continued

Halifax apologises after mortgage details stolen

27 Mar 2007

Halifax could face action from the City watchdog after admitting that the details of some 13,000 mortgage customers were stolen from a member of staff last week..... continued

Five years jail for £1m embezzler

22 Mar 2007

A company director who embezzled £1m from his employer to fund a champagne lifestyle has been jailed for five years and three months..... continued

Related article: Employee Fraud

Al-Qaida gets fake papers as Home Office issues 10,000 passports to fraudsters

22 Mar 2007

An estimated 10,000 British passports were issued after fraudulent applications in the space of a year - and al-Qaida terrorists have successfully faked applications, the Home Office admitted today..... continued

Stolen credit card details on sale for as little as £1

19 Mar 2007

Confidential data on tens of thousands of people is being sold by criminal gangs for as little as a £1, allowing fraudsters to steal money from on-line bank and credit accounts, according to a new report..... continued

It's a goldmine in the rubbish for ID thieves - banks take note

19 Mar 2007

Credit card fraud may be on the decline but a number of financial firms have been putting customers at risk..... continued

Reduction in card fraud in 2006

14 Mar 2007

There was a 3% drop in the amount of money lost to card fraud in 2006.

Fraudsters stole £428m from banks, other lenders, retailers and individuals using credit, debit and store cards.

The Association for Payment Clearing Services (Apacs) says there was a big fall in fraud on lost or stolen cards..... continued

Good catches for 'phishing' fraudsters as losses through fake bank websites leap 44% to £34m

14 Mar 2007

· Use of chip and pin cards pushes criminals abroad
· Fears of end to automatic refunds to victims

Losses from online banking fraud jumped 44% to reach £33.5m last year following a surge in "phishing" attacks, the latest figures show..... continued

Related article: Phishing

ACPO report – The Nature, Extent and Economic Impact of Fraud in the UK

07 Mar 2007

An Independent study reveals the true cost of fraud in the UK.

Fraud is costing the UK economy a minimum of £13.9 billion a year, a specially commissioned report has revealed..... continued

Click here for the ACPO report (pdf)

EU starts crackdown on lottery and holiday club scams

26 Feb 2007

The European commission is launching an EU-wide crackdown this week on cross-border scams such as phoney lotteries and bogus holiday clubs and on companies abusing consumer protection rules..... continued

Related articles: Lottery Frauds / Advance Fee Fraud

No plan to close SFO

26 Feb 2007

There is absolutely no truth in your story (Move to close down Serious Fraud Office, February 23) that consideration is being given to disbanding the Serious Fraud Office or merging it with the Serious Organised Crime Agency..... continued

SFO Website

Turn on, log in, watch out

23 Feb 2007

An online shopping boom at Christmas may have set cybertills ringing, but companies are counting the cost of rising online fraud. Dave Howell finds out how business can fight back..... continued

Includes jargon buster and tips on how to stop card-not-present fraudsters.

Stinging criticism prompts LSE to tighten rules on junior market

22 Feb 2007

The London Stock Exchange is doubling the maximum fine it can levy on rogue companies and advisers to £50,000 as part of a tightening of regulations on the junior Alternative Investments Market (Aim)..... continued

Home wi-fi systems vulnerable to hackers

22 Feb 2007

Up to half of home wi-fi systems are susceptible to a new line of attack from hackers intent on stealing personal information such as passwords and bank information..... continued

Hackers target the home front

15 Feb 2007

Criminals are trying to gain access to banks' computer networks via the weakest link in the security chain: executives who work at home..... continued

Click here to access the Wikipedia entry on Keystroke Logging

Aberdeen 'worst for credit fraud'

13 Feb 2007

Aberdeen has been named as the worst city in Scotland for credit card and internet fraud. Almost one in four residents - 24% - said they have had a bank card stolen or their personal details taken from the internet, according to a survey..... continued

Every firm must have a system to manage risks - and crises

12 Feb 2007

RISK management should be an integral part of every company's strategic planning. Anticipating the threats and minimising the risks are the hallmarks of good business..... continued

Related article: Employee Fraud

Two men arrested, Edinburgh frauds and thefts

09 Feb 2007

Two men aged 40 and 48 years have been arrested and charged in connection with a series of alleged frauds and thefts in the Edinburgh area over the past 18 months..... continued

Ten held after VAT fraud raids in Britain and Europe

07 Feb 2007

· Dozens of bank accounts frozen in Dubai
· Crackdown brings huge drop in Treasury losses

The government's fight against multi-billion pound "carousel" fraud stepped up a gear yesterday as customs officers arrested 10 people after raids across Britain and Europe..... continued

Related article: MTIC Fraud

Scots IFA targeted by company cloning scam

06 Feb 2007

A LEADING Scottish independent financial adviser has been targeted by fraudsters.

Alan Steel Asset Management found a copy of its accounts had been posted at Companies House by a dormant business based in Exeter..... continued

Scots convictions for fraud at £50m high

29 Jan 2007

MAJOR fraud convictions hit an all-time high in Scotland last year, the crimes' value reaching £50 million, almost triple the figure for 2005.

According to KPMG Forensic's fraud barometer survey, there were 22 major fraud convictions in 2006..... continued

Online fraud 'now major concern'

25 Jan 2007

Britons fear being ripped-off online more than gun crime, climate change or even contracting MRSA in hospital, a survey has suggested.

Online fraud worries four out of 10 Britons, according to a survey..... continued

FSA sets up dedicated team to tackle financial crime

23 Jan 2007

The chief City watchdog yesterday warned that criminals targeting banks and other financial institutions would become increasingly successful without a more determined crackdown.

The Financial Services Authority said it had created a dedicated team, drawn from staff working across the organisation, to tackle organised financial crime..... continued

Revenue worker jailed for fraud

22 Jan 2007

An Inland Revenue worker involved in a tax scam has been jailed for 30 months.

At Edinburgh Sheriff Court, Imran Ayub, 25, of Woodlands, Glasgow, pleaded guilty to defrauding the Inland Revenue of £146,377 between 2003 and 2004..... continued

Related article: Employee Fraud

Ministers overturn data protection rules in fight against organised crime

18 Jan 2007

· Bill sanctions private and public sector data sharing
· 'Super Asbos' aim to crack down on gangland bosses

Ministers unveiled sweeping legislation yesterday containing measures to allow widespread data sharing between public and private sectors for the first time in the name of tackling fraud..... continued

Forum gears up to tackle fraud as reported UK losses top £1bn

08 Jan 2007

REPORTED business fraud in the UK has topped the £1bn level for the first time, a 40% increase to £1.37bn.....

The findings have emerged ahead of Scotland's first fraud forum this year to bring together public and private sector organisations to promote fraud awareness and prevention..... continued

Fraudsters net record £1.4bn from business rip-offs

04 Jan 2007

Private equity firms were warned yesterday to beware of fraudsters after a survey showed businesses suffered a 40% jump in fraud last year..... continued

Business fraud reaches record levels

04 Jan 2007

BUSINESS fraud reached record levels in the UK last year, with reported crimes soaring past the £1 billion mark for the first time, according to new research..... continued

Government joins Europe-wide campaign to catch fraudsters

02 Jan 2007

· Britain hopes measures will curb offshore scams
· Prize draw, holiday and investment rogues targeted

The government promised yesterday to crack down on fraudsters operating abroad after it signed up to a network of national enforcement agencies with powers to cooperate across the European Union..... continued

2006 2006

Britons lose £3.5bn a year to mass-marketing scams

21 Dec 2006

MASS-MARKETING scams are conning £3.5 billion from the British public every year, with nearly half of the country's population being targeted, a major new report has revealed..... continued

Father of six jailed for 'Nigerian' bank scam

20 Dec 2006

A FATHER of six who took part in a £130,000 bank scam to pay for his family has been jailed for 27 months.

Simon Wade, 42, used a counterfeit passport and forged signature to transfer the cash from the bank account of a London architect..... continued

FSA launches insider dealing crackdown

20 Dec 2006

THE Financial Services Authority said today that it is probing four key buyout deals conducted over the past year for evidence of insider dealing.

The City watchdog, in conjunction with the Takeover Panel, is launching a crackdown on the practice which can see some people with pre-notice of upcoming deals make huge profits..... continued

Alert over 'secret shopper' scam

20 Dec 2006

Consumers are being warned by the Office of Fair Trading (OFT) of a sophisticated new scam targeting people across the UK. The potential victim receives a "secret shopper" letter with a £50 cheque..... continued

Online banking fraud 'up 8,000%'

14 Dec 2006

The UK has seen an 8,000% increase in fake internet banking scams in the past two years, the government's financial watchdog has warned..... continued

Related article: Phishing

Multi-million pound fraud arrests

14 Dec 2006

Eight search warrants were executed and three people arrested in Glasgow during an operation targeting multi-million pound VAT fraud..... continued

Related article: MTIC Fraud

Skilling begins his 24-year jail term

14 Dec 2006

Jeffrey Skilling, the former chief executive of Enron, reported to federal prison in Waseca, Minnesota, yesterday to begin serving his 24-year sentence for fraud and other crimes in the collapse of the former energy giant..... continued

Related article: Employee Fraud

Internet criminals to step up "cyberwar" in 2007

12 Dec 2006

LONDON (Reuters) - Computer hackers will open a new front in the multi-billion pound "cyberwar" in 2007, targeting mobile phones, instant messaging and community Web sites such as MySpace, security experts predict..... continued

Related article: Phishing

VAT fraud falls by £200m after Caribbean bank is closed

12 Dec 2006

Attempted VAT fraud by organised criminals has fallen sharply again in the wake of the closure of a Caribbean bank and the withholding by HM Revenue & Customs of VAT repayments they think might be made by fraudsters..... continued

Related article: MTIC Fraud

Can banks elude online sharks?

08 Dec 2006

Criminals often steal account details via fake websites. Danny Bradbury investigates whether different registration rules could stem fraud - or if ".bank" would do it at once..... continued

Related article: Phishing

Sophisticated crime cost Britain up to £3bn last year

08 Dec 2006

The taxpayer lost up to £3bn - equivalent to nearly 1p on the basic rate of income tax - to "carousel" VAT fraud in fiscal 2005-06, pre-budget report documents revealed yesterday..... continued

Related article: MTIC Fraud

Internet criminals signing up students as 'sleepers'

08 Dec 2006

· Gangs go talent spotting and offer to fund studies
· Popularity of sites such as MySpace fuelling scams

Organised gangs are recruiting the next generation of internet criminals by approaching undergraduates on university campuses..... continued

Related articles: Employee Fraud / Phishing

Banks hiding online fraud, say police

05 Dec 2006

· Crimes going deliberately unreported, MPs told
· True cost could be much higher than official £1.7bn

Banks and other financial institutions are deliberately failing to report incidents of online fraud to the police, possibly because they are worried about the potential damage to their reputations, a senior police officer said yesterday..... continued

Government hopes cooperation treaty with UAE will slow down carousel fraud

04 Dec 2006

· Up to 90% of money said to go through Dubai banks
· Latest data show annual losses of up to £1.9bn

Britain and the United Arab Emirates will sign a treaty this week which it is hoped will make significant advances in the government's crackdown on VAT "carousel" fraud, which is draining billions of pounds from the UK's public finances..... continued

Related article: MTIC Fraud

VAT fraud to cost Treasury £5bn

04 Dec 2006

The government's coffers will be drained of at least £5bn this year due to VAT "carousel" fraud despite official data showing sharp falls in the fraudulent activity in the past couple of months, a leading business and financial adviser said yesterday..... continued

Related article: MTIC Fraud

Manager in court over education group's lost £26k

04 Dec 2006

THE former manager of a city education project has been charged with embezzling £26,000 of public cash from the agency.

Heather Yang was arrested by police following an intensive three-year investigation by fraud officers into the missing money..... continued

Related article: Employee Fraud

Fraudsters switch tactics to get their hands on your cash

23 Nov 2006

Tracking down on financial fraud is a frustrating business. Come up with a way to defeat one type of scam and the conmen simply find a new way to steal from millions of debit and credit card holders..... continued

Nigerian money scams cost Britain millions, says report

21 Nov 2006

Financial crime carried out by fraudsters in Nigeria has become a "large and pressing problem" for UK authorities, research concluded today.

A string of internet scams, reports of credit card fraud and incidents of money laundering, are going unchecked by governments in both countries, a study by the independent research body Chatham House said today..... continued

Cash machines were bugged with MP3s in £200,000 scam

15 Nov 2006

A man who used MP3 players to bug cash machines and steal the personal details of unsuspecting bank customers has been jailed for 32 months. The sophisticated technical scam secured data that enabled Maxwell Parsons's accomplices to use cloned credit cards to buy £200,000 of goods in high-street shops..... continued

Businesses failing to guard against identity fraud threat

09 Nov 2006

BUSINESSES are failing to protect themselves and their customers from identity fraud, according to a poll released today.

The survey, which saw researchers go through companies' bins, found more than three in four businesses had not made any effort to destroy sensitive material that had been thrown away or prepared for recycling..... continued

Online banking fraud rises fast

08 Nov 2006

A surge in "phishing" in the first half of 2006 has produced a sharp rise in the amount of money being lost to online banking fraud.

Phishing involves using fake websites to lure people into revealing their bank account numbers..... continued

Related article: Phishing

Businessman jailed for £11m fraud

31 Oct 2006

A company director behind one of Scotland's largest financial crimes has been jailed for almost five years.

John Kirke Walker, 57, from Penicuik, Midlothian, sold nearly £11m of bogus insurance cover. His firm Tribune Risk and Insurance Services left more than 43,000 clients with worthless policies after its main underwriter pulled out..... continued

Bank manager avoids jail for £37,000 fraud

30 Oct 2006

A FORMER bank manager who embezzled £37,000 from banks in Edinburgh and the Lothians has escaped jail.

Alison Forsyth, 42, of South Gyle Wynd, Edinburgh, siphoned away thousands during seven years working at Abbey..... continued

Related article: Employee Fraud

Call centres infiltrated by gangs

30 Oct 2006

One in 10 of Glasgow's financial call centres has been infiltrated by criminal gangs, police believe.

The scam works by planting staff inside offices or by forcing current employees to provide sensitive customer details..... continued

Related article: Employee Fraud

Fear of web crime rising as more people shop and bank on net

09 Oct 2006

FEAR of internet crime is rising as more people shop and bank online, a report out today warns.

Criminals are increasingly targeting cyberspace as broadband take-up rises and more services hit the internet..... continued

Money-go-round costs UK £8.3b

06 Oct 2006

BRITAIN lost a massive £8.3 billion to complex VAT frauds in just a year - more than four times the latest official government figure, a report has claimed..... continued

Linked Article: MTIC Fraud

UK plc warned to act over £700m cost of corporate identity fraud

06 Oct 2006

THEFT of confidential company information is expected to cost British business £700m a year by 2020 due to the growing sophistication of computer hackers and fraudsters.

Businesses now regard corporate identity theft as one of the fastest-growing risks they face..... continued

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