StaRs: Time to prioritise, but not to panic
Fraud is a major threat to citizens, businesses and the government. The National Fraud Authority has estimated that the total annual losses from all fraud against all types of victims is now at least £73bn. The Fraud Advisory Panel has released its main recommendations today on “obtaining redress and improving outcomes for the victims of fraud”.
Caroline Jan looks at the risks associated with storing and maintaining data and sets out guidance to help companies manage exposure in the event of an investigation or litigation.
In a recent press release in December 2012, the independent fraud watchdog the Fraud Advisory Panel commented that the legal system in the UK was effectively fighting fraud with one hand tied behind its back by under-valuing and under-utilising the civil remedies that are available to victims of fraud.
In its recent decision Michaud v France dated 6 December 2012 (Requête No.12323/11), the European Court of Human Rights (the “Court”) confirmed that French advocates, like any other lawyers authorised to practise within the European Member States, must comply with certain obligations aimed at effectively detecting and fighting against money laundering activities.
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