Fraud RISKS RECOVERY AND REPORTING Introduction Fraud Risks

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Fraud RISKS, RECOVERY AND REPORTING

Fraud RISKS, RECOVERY AND REPORTING

Introduction • Fraud Risks and Response • Reporting • Recovery

Introduction • Fraud Risks and Response • Reporting • Recovery

Covid Bounce Back Loans • Higher than expected loan amount • Minimal business activity

Covid Bounce Back Loans • Higher than expected loan amount • Minimal business activity • Multiple loans • Fund transfers • Business purpose?

Practice members • Suspicious activity reports (SARs)? • Pressure to be associated with misleading

Practice members • Suspicious activity reports (SARs)? • Pressure to be associated with misleading info (R 111. 2 Code of Ethics) Business members • Pressure to be associated with misleading info • Presentation of information (R 220. 4 Code of Ethics)

Scenarios

Scenarios

1. Ransomware attack victim • Cyber response • NCA or Action Fraud? • GDPR

1. Ransomware attack victim • Cyber response • NCA or Action Fraud? • GDPR • Professional indemnity

2. Spear phishing victim • Reporting • Client money • PII • NCSC guidance

2. Spear phishing victim • Reporting • Client money • PII • NCSC guidance

3. Inconsistent information • Mortgage application • Tax return • Crime with proceeds?

3. Inconsistent information • Mortgage application • Tax return • Crime with proceeds?

Recovery

Recovery

Help and support available Technical and Ethics Advisory Services Anonymous Anti-Money Laundering and Fraud

Help and support available Technical and Ethics Advisory Services Anonymous Anti-Money Laundering and Fraud helpline services +44 (0)1908 248 250 (option 2) Webchat www. icaew. com/helplines

Help and support available at icaew. com https: //www. icaew. com/technical/tas-helpsheets/fraud-issues-formembers-in-practice https: //www. icaew.

Help and support available at icaew. com https: //www. icaew. com/technical/tas-helpsheets/fraud-issues-formembers-in-practice https: //www. icaew. com/technical/tas-helpsheets/fraud-issues-formembers-in-business https: //www. icaew. com/technical/tas-helpsheets/fraud/advising-fraud-victimsrecovery https: //www. icaew. com/technical/technology/tech-faculty/webinars/cybersecurity-and-data-protection-for-hybrid-working

Questions…….

Questions…….

icaew. com ICAEW 2020

icaew. com ICAEW 2020

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