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Economic crime

Economic crime is causing increasing disruption to every type of organisation, from established businesses to charities and public sector bodies. The frequency of attacks is rising, and criminals are becoming more sophisticated, supported by advances in technology. In these articles and videos, we explore the latest trends and perspectives on economic crime from around the world, and look at how chartered accountants can help prevent it happening.
Displaying 1-10 of 51 results
Payment diversion fraud: know the signs
  • Article
  • 18 Mar 2022
As the National Economic Crime Centre launches a new awareness campaign, here’s what to look out for.
ICAEW supports passing of Economic Crime Act
  • Article
  • 15 Mar 2022
On 14 March 2022, the Economic Crime (Transparency and Enforcement) Act 2022 became law, following substantial amendments made by the House of Lords. Here’s a summary of what it changes.
ICAEW supports amendments to Economic Crime Bill
  • Article
  • 10 Mar 2022
A number of amendments have been made to the draft Economic Crime Bill, addressing some of ICAEW’s concerns.
Economic Crime Bill: ICAEW responds
  • Article
  • 06 Mar 2022
ICAEW welcomes the publication of the Economic Crime Bill but expresses concerns about the length of the transition period and the risk of false or misleading information being entered onto the new register of overseas entities.
Ukraine: government brings forward Economic Crime Bill
  • Article
  • 01 Mar 2022
The long-awaited Economic Crime (Transparency and Enforcement) Bill has been released in draft form as events in Ukraine call for increasingly tougher sanctions against Russia.
Companies House reform white paper published
  • Article
  • 01 Mar 2022
A legal overhaul of the register will bolster Companies House’s powers so it can better tackle crime and fraud and provide a stronger foundation for boosting enterprise, the government says.
Is trust enough? AML and professional scepticism
  • Article
  • 11 Feb 2022
ICAEW’s latest educational drama film, All Too Familiar, examines the role of professional scepticism in the fight against economic crime. Produced in collaboration with HMRC, the film looks at a real life scenario of how firms and individuals may inadvertently become ‘professional enablers’ for criminals involved in everything from financial fraud to modern slavery and terrorism.
How the government could better tackle fraud
  • Article
  • 07 Feb 2022
The pandemic saw a sharp rise in financial scams and online fraudulent activity targeted at government schemes and consumers, with around £290bn lost to economic crime
MPs criticise government in economic crime fight
  • Article
  • 04 Feb 2022
The Treasury Select Committee is calling on the government to set up a single law enforcement agency to tackle the “rapidly growing problem” of economic crime.
Fraud risks a “colossal problem”
  • Article
  • 02 Feb 2022
Sir David Green CB QC, the new chair of the Fraud Advisory Panel, on why weaknesses in counter-fraud systems and enforcement are making London an attractive place for fraudsters
Displaying 1-10 of 51 results
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Economic crime

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Economic Crime is an area of growing concern for many businesses. The National Economic Crime Centre (NECC) was created to tackle fraud, money laundering and corruption head on and continues to build important partnerships with regulators including ICAEW and the private sector. Chartered accountants play a crucial role by ensuring that they are following best practices for AML and advising clients on preventing and detecting fraud. Members must also remain up to date with how sanctions apply to their business, their staff and their clients.
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