The 12 sneakiest frauds in Britain today and how not to be fooled by them

Article Abstract:

There have been 535 identified cases of fraud in the UK so far in 1996, involving losses of 3 billion pounds sterling. However, these statistics cover only cases involving more than 100,000 pounds sterling where charges have been brought, and there are many more smaller cases which are never reported. Victims are often too embarrassed to make the police aware of what has happened, and this then gives the impression that fraud is not widespread. There are many ways in which small-scale fraud can be carried out, including sending invoices for goods which have never been supplied.

Column

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Money laundering: a tough business to clean up

Article Abstract:

The 1996 to 1997 annual report of the Financial Action Task Force on money laundering states that the UK has a comprehensive system for dealing with money laundering. Money laundering is complex international problem, and there are limits to the effect individual countries can have in tackling it. However, there have only been three prosecutions and convictions for money laundering in the UK since strict legislation was introduced in 1993 under the auspices of the Criminal Justice Act. It is now time to find ways of improving the UK's record in tackling money laundering.

Laws, regulations and rules, Money laundering

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There's a sucker in every crowd

Article Abstract:

There have been a number of highly publicised cases in which advance fee fraud has allowed criminals to obtain large sums of money. In such cases, an advance fee payment is demanded, and then never repaid. Fraudsters invent transactions in order to encourage victims to hand over money, often promising large profits. The fraud can even operate on an international basis, with criminals using organisations called 'trusts' and shell or offshore concerns.

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