On 3rd July, ICAEW congratulated the Panel on its 20th anniversary.  The Panel’s mission is to enable as many people as possible to protect themselves against fraud.  It does this by uniting counter fraud professionals of all kinds to provide expert advice, education and independent research to identify solutions to fraud problems.


On the same day, the Fraud Advisory panel released a new report: “Fraud Futures: understanding the old to prepare for the new”.  This is said to warn of the ongoing failures to properly prepare for the next generation of cybercriminals, and the subsequent potential for a new epidemic of economic crime.  It provides a short history of fraud, going back to mentions in the Book of Proverbs circa 700 to 400 BC.  Even trade finance (as in trade-based financial crime, or trade-based money laundering) is dated to at least ancient Greece in 300 BC.  It recounts the story of the first and original Mr Ponzi.  It goes on, via Bernie Madoff, to look at the changing face of modern fraud, and what might come next.


Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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