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Fraud & corruption news

Latest fraud & corruption news

Senior purchaser convicted of £2 million fraudRoss Knowles, the former head of energy procurement for the Laser Energy Buying Group at Kent County Council, has been found guilty of fraud by Maidstone Crown Court. 03 April 2012
Procurement fraud costs public sector £2.3 billionFraudsters are swindling the taxpayer through double invoicing, kickbacks and rigged bids. 02 April 2012
Procurement fraud costs UK more than £5 millionKPMG's Fraud Barometer finds seven cases of purchasing fraud totalling £5,096,805. 31 January 2012
Four purchasers found guilty in £66m corruption caseSouthwark Crown Court finds four men conspired to receive payments from bidders in exchange for supplying insider information about contracts. 27 January 2012
Supplier fraud in the public sector up by 19 per centBuyers are advised to keep a closer eye on third parties and act when they uncover corruption. 18 January 2012
Bribery Act proves no barrier to most businessesOnly 6 per cent of companies say updated UK anti-corruption legislation has affected their ability to do business. 29 December 2011
Angola named one of world's riskiest business placesThe southern African nation is one of nine countries labelled 'extreme risk' in an analyst report. 21 December 2011
Buyers should beware of present policySuppliers and staff must be fully informed whether it is acceptable to give or receive gifts and hospitality. 16 December 2011
UK perceived more corrupt than GermanyThe UK is trailing behind 15 other countries on the Corruption Perceptions Index 2011. 01 December 2011
Procurement fraud identified by local councils quadruplesWhile the number of cases identified has dropped, the amount of money obtained by fraudsters has greatly increased. 10 November 2011
Six Met officers convicted over illegal spendingIllegitimate use of corporate credit cards at the Metropolitan Police resulted in six convictions and 34 facing disciplinary action. 29 September 2011
'Cancer of corruption' afflicting SA procurementSouth Africa's finance minister Pravin Gordhan told members of the board of The Institute of Internal Auditors to ask "tough questions" of both public and private sector organisations to root out poor procurement. 17 August 2011
News focus: When is a gift not a gift?Under the new bribery legislation, companies don't need to have done anything wrong to face prosecution and a considerable fine, discovers Adam Leach. 09 August 2011
£11 million fine for Macmillan over corruption concernsLong-running investigation into corrupt behaviour results in fine for publishing firm. 25 July 2011
FSA issues record fine for lack of bribery controlsProfessional services firm Willis fined nearly £7 million. 22 July 2011

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Calling time on corruptionWith the cost to Africa of fraudulent practices estimated at 25 per cent of its gross domestic product, serious steps are now being taken to  stop the rot, writes Elaine Porteous.

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Trevor Black is concerned details of "tough contract negotiations" and procurement fraud is damaging the perception of public purchasing.
Time to teach buyers a lesson over bribery
Gifts to the public sector may have hit the headlines, blogs Claudine Swiatek, but the real issue is around a lack of policies and procedures.
Moral duties
With procurement at the coalface of business, buyers can lead the way in tackling corrupt practices

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Senior purchaser convicted of £2 million fraud
Ross Knowles, the former head of energy procurement for the Laser Energy Buying Group at Kent County Council, has been found guilty of fraud by Maidstone Crown Court.
Procurement fraud costs public sector £2.3 billion
Fraudsters are swindling the taxpayer through double invoicing, kickbacks and rigged bids.

FEATURES

Calling time on corruption
With the cost to Africa of fraudulent practices estimated at 25 per cent of its gross domestic product, serious steps are now being taken to  stop the rot, writes Elaine Porteous.
Buyer beware
Company hijack is on the increase in South Africa, so if you do business there, supplier checks are crucial, warns Alan Jewson

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