DETECTIVE INSPECTOR

1

• DETECTIVE INSPECTOR
• DOUG REEMAN
• RISK FORUM
• FINANCIAL CRIME TRENDS
• 25TH OCTOBER 2006

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TACKLING FINANCIAL CRIME

• WORKING IN PARTNERSHIP
• WITH THE COMMUNITY

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• FRAUD ACT
• FRAUD REVIEW
• CONTROLLING FINANCIAL CRIME
• FINANCIAL CRIME TRENDS STRATEGIC ASSESSMENTS
• HIDDEN THREATS
• CASE STUDIES

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FRAUD ACT

• SECTION 2
• FRAUD BY FALSE REPRESENTATION
• Dishonestly and with intention to
• Make gain for self or another, or
• To cause loss to another or to expose another to
  a risk of loss
• False Representation
• Untrue or misleading
• Person making it knows that it is, or might be,
  untrue or misleading
• Express or implied
• Includes electronic communications

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FRAUD ACT

• SECTION 3
• FRAUD BY FAILING TO DISCLOSE INFORMATION
• Dishonestly fails to disclose information which
  he is under a legal duty to disclose, and intends
  by doing so
• to make gain for himself or another, or
• to cause loss to another or to expose another to
  a risk of loss

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FRAUD ACT

• SECTION 4
• FRAUD BY ABUSE OF POSITION
• Occupies a position in which he is expected to
  safeguard, or not to act against, the financial
  interests of another person,
• Dishonestly abuses that position, and
• Intends, by means of that abuse of position
• to make a gain for himself or another, or
• to cause loss to another or to expose another to
  the risk of loss
• Conduct includes an omission rather than an act.
  

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FRAUD ACT

• SECTION 6
• POSSESSION OF ARTICLES FOR USE IN FRAUD

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FRAUD ACT

• SECTION 7
• MAKING OR SUPPLYING ARTICLES FOR USE IN FRAUDS

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FRAUD REVIEW

• CITY OF LONDON POLICE
• LEAD FORCE ECONOMIC CRIME
• NATIONAL FRAUD REPORTING CENTRE
• NATIONAL CHEQUE CREDIT CARD INTELLIGENCE
  DATABASE (OP HALO)
• DATA SHARING MATCHING
• INVESTIGATORS/PROSECUTORS/REGULATORY OTHER
  AGENCIES

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CONTROLLING FINANCIAL CRIME

• SENIOR MANAGEMENT BUY-IN
• ROBUST ANTI-FRAUD POLICY
• TRANSPARENT REPORTING PROCEDURES
• REGULAR INTERNAL AUDITS
• RESTRICT NETWORK ACCESS
• RISK PROFILING - EMPLOYEE SCREENING

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ACTION MODEL

• DETERRENCE
• PREVENTION
• DETECTION
• INVESTIGATION
• SANCTIONS
• REDRESS

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FINANCIAL CRIME ML RISKS

• INSIDERS
• VULNERABLE STAFF
• SENIOR MANAGEMENT
• TARGET PROFILE - 18 to 25 years not gender
  specific
• ORGANISED CRIME
• OPPORTUNIST
• IMPERSONATION
• COMPROMISE ACCOUNT/PERSONAL DATA
• COMPROMISE PAYMENT SYSTEMS
• BY-PASS KYC
• COMPROMISE BUSINESS PROFILES

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FINANCIAL CRIME TRENDS

• FINANCIAL INSTITUTIONS INSIDERS
• IMPERSONATION
• CARD NOT PRESENT FRAUD
• STAGED ACCIDENTS
• BOILER ROOMS
• IDENTITY FRAUD
• LOTTERY SCAMS
• 419 SCAMS
• HIGH YIELD INVESTMENTS/ADVANCE FEE

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CASE STUDIES
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• DETECTIVE INSPECTOR
• DOUG REEMAN
• 020 7601 2846
• doug.reeman_at_city-of-london.pnn.police.uk