While the GDPR will be directly applicable in all EU members states with effect from 25 May 2018,...
Most corporate fraud is employee fraud. Although fraud has traditionally been regarded as hard to prove, the Fraud Act 2006 provisions make it easier to obtain convictions for fraud a than was possible under the predecessor legislation.
Under the Act, fraud offences are:
- fraud by false representation. This is committed when a false representation is made which the person making it knew was or might be false and which was made with the intent to make a gain or cause loss;
- fraud by failing to disclose information. This is committed when the perpetrator fails to disclose information which he is under a legal duty to disclose and which is withheld with the intent of making a gain or causing a loss; and
- fraud by abuse of position. This is committed when the perpetrator is in a position of trust and acts dishonestly with the intention of making a gain or causing a loss.
There is also an offence of obtaining services dishonestly. This involves obtaining services for which payment is due and failing to pay, in whole or in part, where this is done with the intent that payment will be avoided.
Click here for advice on reducing the risk of employee fraud.