Tag Archives: fraud

Fakes and forgeries in the fine art world: What’s an art dealer to do?

This time last year, there were a series of frauds in the art world being discovered and an increase in museums and galleries hiring forensic investigators to verify artworks. Things look to be picking up right from where they were … Continue reading →

Insider trading enforcement concerns rise on Supreme Court decision

In a ruling on Tuesday, December 6th, in Salman v. United States, the United States Supreme Court resolved a split among the circuit courts, essentially holding that if an individual gives confidential information to a “trading relative or friend”, it … Continue reading →

Imperfect storm of cyber risk, fraud and lawsuits

Here’s a bad day turned into a bad week, month, year for a CEO of a mid-sized company. Continue reading →

Look out for the “Crackdown on White-collar Crime”

I was speaking at the same Cambridge Crime Symposium as made the front page of this Monday’s Times newspaper. Sadly, it wasn’t my talk on D&O and commercial crime insurance that attracted as much attention as the speech by attorney … Continue reading →

I am entitled to a lawyer being present if interviewed by the Serious Fraud Office or similar authority, right?

We have all seen enough police shows to be familiar with the mantra that you are entitled to have a lawyer present, along with the warning that: You do not have to say anything. But it may harm your defence … Continue reading →

Whistleblowers: You Know they Make Sense if You’re a Regulator!

Whistleblowers

The FCA published last week new rules on whistleblowing. The key requirements of the new rules are to: appoint a senior manager as their whistleblowers’ champion put in place internal whistleblowing arrangements able to handle all types of disclosure from … Continue reading →

Our Scariest Fidelity Risk – When Employees Collude in Fraud

Scariest risks 2014

Most companies believe their internal controls and procedures are adequate and will reduce the likelihood of fraud occurring. However, many companies continually grow and change, forgetting to test and adjust internal controls along the way. One client of mine relied … Continue reading →

Scariest Risks of 2014

Scariest risks 2014

As risk advisors, WillisWire bloggers tend to think less of ghouls and goblins during the Halloween season than of the frightening real risks our clients face. This year they faced more than their share of new ones, with ISIS, Ukraine, … Continue reading →

Best Practices for Approaching the F-word in Workers Comp (a.k.a. Fraud)

Workers comp fraud is estimated to cost insurers/employers over $7.2 billion annually, large enough to rank among the Fortune 500 if it were a legitimate business. Whatever the  numbers, workers’ compensation fraud is not just a cost borne by insurers. … Continue reading →

When can Directors’ Crimes be Attributed to the Companies on Whose Boards They Sit–And Does it Matter?

Board in Jail

This is a question with which English law has had to grapple on many different occasions and in many different contexts, both civil and criminal. It is even directly relevant to D&O insurance since it can mean the difference between … Continue reading →