The recent decision in AXA Insurance v Kryeziu, a low-value insurance dispute, provides welcome clarification of what is required of victims of fraud in both their pleadings and disclosure, and the consequences of failing to comply. In this article for Fraud Intelligence, Philip Gardner and Abbie Melvin review the facts and findings of the case, […]
Many of the underlying principles of English law developed from simple cases of relatively low monetary value, perhaps most famously in the foundational negligence case of Donoghue v Stevenson. The recent decision in AXA Insurance v Kryeziu [2023] EWHC 3233 (KB), a low-value insurance dispute, is a useful reminder that no matter the garden variety […]
Late 2023 brought a welcome development in the fight against fraud, as the UK government concluded the Online Fraud Charter with various industry representatives. The Charter represents a practical step by which online giants can move towards countering the extremely high proportion of online fraud. To take on the current fraud epidemic, however, it will […]
Between 2022 to 2023, civil forfeiture and recovery powers under Part 5 of the Proceeds of Crime Act 2002 (POCA) contributed £160.1 million to the public purse. With criminal confiscation powers bringing in £179 million, the amount recouped using civil rather than criminal asset recovery powers equates to just under half of the total asset […]
The Supreme Court has today given judgment in The Republic of Mozambique (acting through its Attorney General) (Appellant) v Privinvest Shipbuilding SAL (Holding) and Others (Respondents) [2023] UKSC 32. In a judgment given by Lord Hodge, Deputy President of the Supreme Court, with whom Lord Lloyd-Jones, Lord Hamblen, Lord Leggatt and Lord Richards agree, the […]
He may have served his time, but in an attempt to clear his name, former rates trader Tom Hayes, announced last month that his conviction for manipulating the Libor benchmark rate was being referred to the UK’s Criminal Cases Review Commission. All those accused of Libor rigging in the US, including Hayes, have been acquitted […]
Last month, after months of speculation, it was announced that the new director of the Serious Fraud Office (SFO) was going to be Nick Ephgrave. Ephgrave was the former chief constable for Surrey Police, assistant commissioner of the Metropolitan Police Service, and most recently held a role that overlapped with his responsibilities as assistant commissioner, […]
Every year, the UK economy could be losing as much £219 billion to fraud. This colossal figure is one of they key findings of the 2023 Annual Fraud Indicator (AFI), a round-up of the cost of fraud in the UK published by Peters & Peters Solicitors in conjunction with national audit, tax, advisory and risk […]
Earlier this month, the Supreme Court handed down its judgment in Philipp v Barclays Bank UK PLC, which deals with the circumstances in which a bank can be held liable for not preventing a customer from being defrauded. The judgment offered much-needed clarity on the nature of the Quincecare duty and the obligations that banks […]
In March, the UK government released its Green Finance Strategy, setting out plans to attract investment to help achieve the country’s net zero ambitions. Then, a month later, the National Fraud Strategy came out, revealing that fraud is “by far” the UK’s most common crime, representing 40% of offences in England and Wales. However, no […]
