Fraud poses a major threat to the UK and the world. The slow progress in fighting fraud in 2019 was evident to all of us with the never-ending stream of news stories documenting bribery and corruption cases around the world in 2019. We documented each with our article on Top 10 Bribery and Corruption Cases of 2019  where we count down the stories:

  • Juniper Networks
  • Alstom
  • Microsoft
  • KPMG
  • Samsung Heavy Industries
  • Fresenius Medical
  • Walmart
  • TechnipFMC
  • Ericsson
  • Unaoil

But these cases helped some of the welcome signs that government and law enforcement were beginning to ratchet-up their interest in fraud with new regulatory updates. 2020 was looking promising to all fraud fighters around the world. Unfortunately COVID-19 pandemic has turned the tide in the fraudsters’ favour – creating the current environment of fear, confusion and economic uncertainty in which fraudsters thrive.

The latest Fraud Advisory Panel’s report, The calm before the storm UK counter fraud in 2019 highlights all of these and more. According to the report the SFO continued to conclude
successful deferred prosecution agreements (though still without converting any of them into individual prosecutions):

  • 53% conviction rate (17 defendants out of 32)
  • 11 criminal investigations opened
  • 8 defendants charged (investigations closed without charge – 14)
  • 16 defendants awaiting trial
  • £3.9m funds recovered
  • 11 new confiscation orders (combined value £4.1m)
  • £1.5m for the first Account Forfeiture Order
  • 70 total caseload

And all of the stories help illustrate the need for organisations to have proper controls in place to prevent bribery and corruption. A certification such as ISO 37001 – Anti-Bribery Management Systems standard can provide a comprehensive approach to mitigating bribery and corruption risk. Organisations of all sizes and industries should take steps now to ensure that they don’t end up on a future list of top bribery and corruption scandals. Only a well resourced, cross-sector, intelligence-led response can tackle fraud.

Staying one step ahead of any critical risk to your organisation is part of being an effective business leader. For assistance in developing and implementing a fraud prevention strategy, contact us today or get a FREE QUOTE now!

Who is CRI Group?

Based in London, CRI Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business IntelligenceDue Diligence and other professional Investigative Research solutions provider. We have the largest proprietary network of background-screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are we have the network needed to provide you with all you need, wherever you happen to be. CRI Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.

In 2016, CRI Group launched Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 19600:2014 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. As a result, CRI Group’s global team of certified fraud examiners work as a discreet white-labelled supplier to some of the world’s largest organisations. Contact ABAC® for more on ISO Certification and training.

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