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Fraud
Banks Win Battle to Slash Fraud Victim Payouts by 80 Percent
In a controversial decision, the Payment Systems Regulator (PSR) plans to significantly lower the maximum reimbursement for victims of authorised push payment (APP) scams from £415,000 to £85,000. This change follows strong lobbying from…
HMRC’s Flagship Innovation Scheme Loses £4bn to Fraud and Error
In a shocking revelation, it has come to light that the UK government's flagship scheme to promote research and development has been marred by widespread abuse, resulting in a staggering loss of over £4bn due to fraud and error since 2020.…
As society becomes more criminal, benefits fraud costs taxpayers a record £7.3bn
According to the Department for Work and Pensions, benefit fraud cost British taxpayers a record £7.3bn in 2017. A wave of criminality has swept Britain.
The DWP attributed the increase to the public's increasing willingness to commit…
Man arrested for contracts with PPE Medpro during the Covid era
Officers have arrested a 46-year old man in connection with an investigation into the £200m worth of contracts that were awarded by the UK government to PPE Medpro for Covid-19 pandemic-related services.
National Crime Agency said that…
Former Autonomy Chief Mike Lynch is acquitted of fraud charges in the US
Mike Lynch, one of the UK’s most prominent tech entrepreneurs, has been acquitted by a San Francisco jury of criminal charges on Thursday. This ends a 12-year legal battle stemming out of one of Silicon Valley’s largest fraud cases.…
Chinese victims of fraud seek to return £3bn (£3bn) in Bitcoins seized in UK
The UK seized more than £3bn of bitcoins from China.
The group of victims of the £5bn scam perpetrated by the Chinese company Tianjin Lantian Gerui Electronic Technology sent a letter to the Foreign Ministry in Beijing this week asking…
Evergrande is accused by Chinese authorities of fraud amounting to 60 billion yuan (£60 billion).
Evergrande has been accused by the UK of inflating their revenues fraudulently by £62bn.
Hui Ka Yan is the founder of the property giant Evergrande. According to the China Securities Regulatory Commission, Hui Ka Yan "instructed" other…
Mike Lynch is on trial in the US for Silicon Valley’s “largest fraud”
Mike Lynch, one of the UK’s most successful entrepreneurs in the tech sector, will be on trial on Monday in San Francisco, 13 years after the "largest fraud in Silicon Valley's history", as described by US prosecutors.
Lynch, who sold…
Palm oil fraud calls for stricter import rules on biofuels
Campaigners warn that stricter rules are required to ensure that imported "used" palm oil is not virgin palm oil. Airlines hope that this oil will help them power cleaner flights.
Despite increasing demand in aviation, about 80% of the…