Birmingham-based specialist fraud disputes, investigations and financial crime compliance firm Tenet has announced a key leadership appointment and the arrival of a new consultant as it continues to strengthen its boutique practice.
The importance of having robust supply chains cannot be overstated. Recent geopolitical and societal events have caused widespread disruption on a scale not seen in recent history and as a result supply chains are having to adapt to the constant changing landscape causing financial pressure on margins. Where there are difficulties, risks increase, especially as there are those who will seek to take advantage of any situation for personal gain.
Tenet were invited to contribute our expertise to Practical Law, providing essential resources on fraud management for law firms. Authored by Elaine Mitchell and Arun Chauhan, these articles offer valuable tools to help legal practices navigate fraud prevention, detection, and response effectively.
The Money Laundering Regulations 2017 (‘the Regulations’) set out what regulated firms must do in order to comply with their anti-money laundering (“AML”) obligations. These include requirements in relation to client due diligence; risk assessments; policies, controls and procedures; and staff training. It also includes the requirement to have a Money Laundering Reporting Officer and, if appropriate, a Money Laundering Compliance Officer; with the identity of the post-holders being notified to the relevant regulator within 14 days.
Supply Chain Fraud is a threat lurking in all businesses. In this article we explore common vulnerabilities, examples of supply chain fraud and practical tips to reduce the risks.
The process of providing goods or services, at some stage, will require interaction with a third party. Both the financial and reputational cost of fraud infiltrating your organisation’s supply chain, whether from internal or external bad actor, can be extremely damaging.
The UK GDPR imposes strict rules on how organisations deal with personal data. Whilst the legislation is designed to give individuals control over their personal data and ensure that organisations handle it responsibly, it does not prohibit data sharing between organisations.
In situations concerning fraud or suspected fraud, organisations are permitted to share personal data if they do so responsibly and have due regard to the rights of the individual. This enables organisations to work together to try to combat fraud, which is clearly in the public interest.
This note focuses on the application of the UK GDPR to private sector organisations only. Certain aspects of the legislation apply differently to public sector organisations and private sector organisations vested with public sector tasks.
All financial investments generally carry an inherent risk. When investing in shares, we all know that the value of those shares can go down as well as up, businesses can flounder and markets can fall. However, what if you’ve done your homework and been given assurances about your investment which turn out to be completely untrue? Did you rely on those assurances when making your decision to invest? Have you suffered substantial losses and feel that you have been misled before you decided to invest. What are your options in those circumstances…?
This article explores the different types of misrepresentation and at what stage a misrepresentation will cross the line to being fraudulent as opposed to an innocent or negligent misrepresentation.
The new APP fraud reimbursement requirement comes into force on 7 October 2024. The change potentially is seismic financially as well as practically; indeed, your role may be directly affected by the changes.
Our recent article provided an overview of the new rules and who may be affected by their implementation. In this article we seek to help you prepare for some of the claims that Payment Service Providers (“PSPs”) may face in light of the changes, offering suggestions and solutions for managing those claims.
On 7 October 2024 the Payment Systems Regulator’s (“PSR”) proposal for new reimbursement rules relating to Authorised Push Payment (“APP”) fraud (often referred to as “scams”) comes into force.
This article explores the background as to why these changes were needed, an overview of what they are and how they seek to improve detection and prevention of fraud and increase protection for customers of banks and other Payment Service Providers (“PSPs”).