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Moneyval, CoE Report

The report analyses the links between cybercrime and money laundering, the most frequently used methods and instruments for laundering criminal proceeds from cybercrime and through the Internet, as well as the risks and vulnerabilities posed by this type of money laundering. It sets outs a number of findings as regards cybercrime and money laundering and of available countermeasures and good practices, which could inspire policy makers and regulators or become elements of more systematic future approaches and strategies that are aimed at the prevention of money laundering and the financing of terrorism, and at the search, seizure and confiscation of proceeds of crime on the Internet.

CIFAS UK

In 2011, CIFAS Members reported 378 frauds committed by staff inside an organisation: a 14.5% increase from 2010 and a stark contrast to the static levels of the previous two years, where no annual increase was recorded. This surge in levels, however, also confirms the prevalence of the threat. The most pronounced threat to a company appears to be ‘Dishonest Actions by staff to obtain benefits by theft or deception’. Not only is this type of fraud the most commonly committed, but it also saw the biggest increase in 2011: 41% up from the level recorded in 2010. Counter fraud professionals have also highlighted it as the biggest threat to their organisation in future years. This type of fraud is (at least to some extent) a by-product of the challenging economic and employment climate of the UK.