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WELCOME TO NIFA.CO.UK

NIFA is a Network of independent forensic accounting practices providing Solicitors, Barristers and Insurance Companies with forensic accounting and litigation support services. It was formed with the aim of providing an efficient and reliable quality service by experienced forensic accountants reporting to a common standard and consistent format.

All members are qualified Accountants as well as members of either the Academy of Experts or the Expert Witness Institute and are able to pool their considerable combined forensic accounting knowledge, expertise and resources.

15th Anniversary

The membership will be celebrating its 15th anniversary with a special conference and dinner in Stratford-Upon-Avon on the 6th and 7th of November. The members will be addressed by leading barristers and experts in family and criminal matters and also by Michael Cohen, Chairman Emeritus of the Academy of Experts.

FORENSIC ACCOUNTING NEWS

Forensic investigation uncovered scale of Ponzi fraud

Three of Bernard Madoff’s aides were given prison sentences this week for their part in helping the Ponzi scheme fraudster steal as much as $20bn from investors.  Daniel Bonventre, who ran Madoff’s broker-dealer unit for almost 40 ye...

 

Accounting differences, not fraud

There have been further developments in the long-running legal battle between Autonomy, the UK firm that was bought by Hewlett-Packard (HP) in 2011, and its buyer, with Autonomy’s founder citing a document he says shows differences in accountin...

 

Defence against too much

Although by any standards a divorce settlement of more than £337m could be judged a good result, what is being hailed as the largest settlement ever seen in a British court is actually less than the wife’s initial claim thanks to forensic...

 

Investigation takes five years

The former Chief Executive of failed retailer JJB Sports has been convicted this week of a million pound fraud, following a five-year investigation, having been found guilty of receiving undeclared and dishonest cash payments from suppliers. Christo...

 

Rank No Barrier To Forensic Investigation

A Spanish court said last week that it would uphold charges of tax fraud against Cristina de Borbon, the sister of King Felipe VI of Spain in an enquiry into corruption, paving the way for an unprecedented criminal trial.  However, the High Cour...

 

NIFA Welcomes a new member Ensors Chartered Accountants

NIFA's newest member Ensors Chartered Accountants has offices in Bury St Edmunds, Cambridge, Huntingdon, Ipswich, London and Saxmundham.  Contact Fiona Hotston Moore fiona.hotstonmoore@ensors.co.uk who is a practising mem...

 

7 key differences between trial & confiscation by David Winch

In many respects confiscation proceedings exist in a different world from criminal trials. It is important that lawyers recognise this and adjust their approach to the work accordingly.  This article points up, briefly and in the most gener...

 

He said, she said

A software tycoon described his ex-wife as a “psychopath” after a bitter row erupted over a family fortune, during which she claimed he had hidden assets, including the proceeds of the sale of two flats in North Africa.  She went on ...

 

An even bigger hole uncovered

Now that the financial investigators looking into the overstatement of profits by Tesco plc have submitted their findings to the Financial Conduct Authority (FCA), further anomalies have been discovered, taking the overstatement to £263m, &poun...

 

Investigations unsettle management structure

Continuing investigations into the £250m overstatement of Tesco’s first half profits appear to have caused turmoil at the top, with news of two more directors set to quit.  The Company Secretary will leave early next year, having han...

 

A Messi Business

Soccer star Lionel Messi is set to face trial for alleged tax fraud after a judge rejected his appeal to have the charges dropped on Friday. The judge ruled that Messi should have been aware of how his father was managing his financial affairs, meani...

 

No hiding the distortions

Tesco’s recent accounting mis-statement shows how the mis-recording of revenues generally falls into one of two categories, which are either booking revenues earned in one quarter being moved forward or backward into another one, and fake sales...

 

Complicating the cost of divorce

Courts are finding it difficult to make judgments in the cases of estranged wives who become involved in new relationships while still fighting over money with their husbands.  According to Mr Justice Mostyn, such relationships were “a sig...

 

Forensic investigators keep bosses posted

The Post Office has been criticised recently for its handling of computer problems that led to a number of sub-postmasters being accused of theft and, in some cases, losing their livelihood, homes and even their liberty.  Back in 2013, forensic ...

 

Interpreting the evidence

As predicted, the case against former senior managers of Autonomy, the firm that was bought by Hewlett-Packard (HP) for $11bn (£6.7bn) in 2011 and then found to be heading for a ‘financial plane crash’, is hotting up.  Now an e...

 

Little things mean a lot

A payroll administrator has just been jailed for four years after a routine audit uncovered a ‘small accounting discrepancy’, which then led to the discovery that the man had defrauded his company of £2.9m over several years.  ...

 

Checking up on the details

According to research carried out last year, the construction industry was deliberately targeted by criminals perpetrating invoice fraud and one firm lost a staggering £1.1m this way, although the losses on average ranged between £95,000 ...

 

Doing the diligence

News that Hewlett Packard (HP) has finally accused the former officials of a firm it bought in 2011 of fraud should serve as a reminder to any organisation thinking of purchasing another one to get their financial investigations done thoroughly by fo...

 

Accounting detectives

It is a measure of how much financial investigation is part of the current mind-set when references to ‘bank account anomalies’ appear in popular TV shows.  In the first episode of the BBC’s New Tricks series, which regularly p...

 

More than number crunching

News that Terry Adams, former head of a north London criminal organisation, was turned down for a certificate of inadequacy to show he lacked the funds to meet his crime-linked debts, is evidence that forensic accountants do more than just number cru...

 

Messi investigation

A judge in Spain has rejected a prosecutor’s request to drop charges of tax fraud against Lionel Messi and has ordered the investigation into three cases of suspected unpaid taxes to proceed.  A court statement said that there was "su...

 

Forensic accountants expose ‘fraud, which is theft’

These are the words of Michelle Young, ex-wife of former property tycoon Scot Young, who even went to jail rather than disclose the whereabouts of his assets during their long and bitter divorce.  Speaking to the Daily Mail last month in her fir...

 

Expert forensic accountants can help prevent fraud

It was announced earlier this week that the National Employment Savings Trust (NEST) has written off the £1.1m losses it incurred when it was the victim of mandate fraud but that it is now setting up an in-house team to target financial crime p...

 

Director Ban Increase Could Lead To Forensic Accountancy Need

With an increase in directors in England, Wales and Scotland being disqualified by the Insolvency Service this year, there may be more need for forensic accountants to investigate alleged fraudulent or wrongful trading.  Figures from the Governm...

 

Agreement Comes About Through Forensic Accounting

Following encouragement by the Groceries Code Adjudicator (GCA), eight major grocers have made voluntary commitments to put a time limit on forensic investigations of suppliers' accounts that have sometimes seen questionable demands made of suppl...

 

A Need For Forensic Accountants

According to a report from the EU’s statistical office, Eurostat, the UK has the highest divorce rate in the European Union, with 2.8 divorces per 1,000 marriages, compared with just 0.6 per 1,000 in Luxembourg.  Since divorce settlements ...

 

Forensic Accountants Will Act Quickly

One of the proposed legal reforms announced in the Queen’s Speech last week was a crackdown on organised crime, involving the strengthening of the laws on recovering criminal assets.  The Serious Crime Bill 2014, which is expected to come ...

 

Forensic Accountants Unravel The Knots

A wealthy former model turned fashion director, who was awarded £32m when she divorced her first husband, has just had her second husband jailed for contempt of court.  Following her divorce in 2004 from co-founder of French Connection, St...

 

Forensic Accountants Give Football Club A Sporting Chance

The owner of Leeds United FC has called in a team of forensic accountants to get to the bottom of financial chaos at the club after being told that its finances were “the worst mess” his advisors had ever seen.  Forensic accountants ...

 

Fighting Fraud With Forensic Accountants

Recent research has found that over a third of insurance intermediaries expect the problem of fraud facing the insurance industry to worsen over the next three to five years, with one of the biggest problems being the huge increase in data that firms...

 

Winning A Fair Share

Appeal Court judges have ruled that the ‘Cinderella’ daughter of  farmers in Wales should receive a fair share in her parents’ £7m estate for the years of low-paid work she had put into it.  Eirian Davies was repeate...

 

Digging Into The Figures

News that Balfour Beatty and National Grid are investigating allegations of fraud on a multi-million pound gas mains replacement contract is a reminder that any business owner suspecting malpractice within the firm should employ a team of forensic ac...

 

Effect of money laundering on UK economy

The National Crime Agency has just published the most comprehensive public-facing analysis to date of the serious and organised crime threats affecting the UK, including the threat to the UK economy from money laundering.  According to the repor...

 

Forensic Accountants can investigate offshore trust assets

The ongoing and increasingly bitter divorce between aviation tycoon Clive Joy and his wife Nichola has highlighted how forensic accountants can put offshore trust assets under the microscope.  A court in London heard earlier this month that Cliv...

 

Shareholders In The News 14 April 2014

The European Commission has just published plans to give the shareholders of publicly quoted companies greater involvement in executive pay policies but what happens in smaller firms when shareholders fall out amongst themselves? The best option fo...

 

Forensic Accountancy Made Famous

Once only spoken of in the business world or high profile divorce cases, forensic accountancy has now become so ‘mainstream’ that even scriptwriters on prime time TV can use the phrase, safe in the knowledge that the viewing public will k...

 

Directors Who Fail To Keep Accurate Financial Records Face Bans

News earlier this month that a company director was disqualified from holding such a position for eight years for failing to keep full and accurate books and records should be a warning that acting in this manner will always be uncovered through a fi...

 

When Marriages And Businesses Collide

Earlier this year a wife won the first round in a bitter divorce after 43 years of marriage, claiming that her “old-fashioned” husband wanted to favour their son over their daughters when it came to sharing out the family business interes...

 

Proceeds Of Crime Auctioned Off

South Yorkshire Police and HM Revenue & Customs (HMRC) are organising an auction next week of jewellery seized under the Proceeds of Crime Act, in a bid to claw back some of the £26m a man and his associates made through tax evasion.  ...

 

Pre Nups Could Protect Women From ‘Predatory’ Men In Divorce

As proposals from the Law Commission on the implementation of binding pre-nuptial agreements are put before the Government, a Peer has called for a law to allow couples to settle the terms of their divorce, in a bid to stop men marrying wealthy women...

 

Delighted Defence 25 Feb 2014

Forensic accountants working on behalf of property tycoons Vincent and Robert Tchenguiz will no doubt be delighted following a Court of Appeal ruling that liquidators working for the Serious Fraud Office (SFO) must disclose documents relating to a re...

 

Witnesses For The Defence 17 Feb 2014

If ever anyone needed expert witnesses on their side, it must be the Infanta Cristina, daughter of King Juan Carlos of Spain, who appeared in court last weekend to face questions over an alleged financial scandal involving her husband, the Duke of Pa...

 

Experts at finding evidence 10 Feb 2014

Forensic accountants have been in the news recently, as their expert services have been used by supermarkets which fear that they have overpaid suppliers in the past and need proof of transactions going back as far as six years.  However, when d...

 

More Money Needed To Combat Defence’s Forensic Accountants 3 Feb 2014

The Serious Fraud Office (SFO) has this week asked the Government for more money to help it press on with its cases against people and firms it suspects of serious financial misconduct.  The SFO’s budget has fallen from £52m to &poun...

 

Fraud Down Last Year 24 Jan 2014

The analysis of fraud trends during 2013 by the UK's Fraud Prevention Service (CIFAS) reveals that, overall, fraud levels decreased in 2013 by 11 per cent from the levels recorded in 2012, the first year on year drop since 2010, but they remain a...

 

Ecclestone To Face Trial In Germany 20 January 2014

The fact that Bernie Ecclestone is back in the news over the sale of part of his F1 empire is a reminder that company valuations must be transparent.  In addition to now facing a trial in Germany in April, the 83-year-old is currently awaiting a...

 

Forensic Accountants Aid Settlement 9 January 2014

Forensic accountants often only make the headlines when they uncover vast amounts of hidden money, such as when they pulled £45m of assets out of bankrupt former tycoon Scot Younger’s ‘hat’ in his bitter divorce hearing.  ...

 

Demand For Forensic Accountants 6 January 2014

The Financial Times pointed out in an article this month that accounting fraud remains “one of the most critical and prevalent issues facing the financial industry”, and highlighted the need for forensic accountancy in suspected cases and...

 

Forensic Accountants Stay Ahead Of The Game 13 December 2013

With new apps and software updates coming out all the time, it is no surprise that the world of forensic accounting, which relies increasingly on technology to make its investigations, is also making full use of the advances.  A whole range of c...

 

Forensic Accountants Unearthed Original Anomalies 6 December 2013

It was announced this week that a further charge has been made against five people in connection with alleged fraudulent activity at welfare to work company A4E, where forensic accountants first found “systemic fraud” in 2009. A rout...

 

Investigative Accountants Find Missing £40m 3 December 2013

An investigative team working on behalf of the ex-wife of former ‘fixer’ Scott Young have found sufficient evidence of a fortune of £45m that a judge was able to award Michelle Young £20m in a ruling that is a culmination of a...

 

Obvious Assets That Can’t Be Found 26 November 2013

A judge has slammed prosecutors who have been unable to find luxury cars, including a Ferrari Spider and Bentley Continental, despite the fact that, as he said, they are “probably being driven around Mayfair”.  Speaking in the confis...

 

Forensic Accountants Needed To Unravel Complex Finance 25 November 2013

Lawyers acting for the ex-wife of former tycoon Scot Young have had to engage the services of an experienced forensic accountant as the best means of proving that he actually does have the money to pay the settlement she is seeking.  Mr Young, w...

 

Taxman Cracking Down 12 November 2013

With the taxman cracking down increasingly on evasion and fraud, the chances are that more businesses than ever could be caught up in the investigation net, even those that have not necessarily done anything wrong.  If this happens to a business...

 

Online Fraud On The Up 29 October 2013

According to new research more than 230,000 frauds were recorded in England and Wales in the year to June, which represents an increase of more than a fifth on the previous 12 months and a 59 per cent increase in five years. The Office for National S...

 

Who Else Made Off With the Money? 22 October 2013

When Bernie Madoff was sentenced to 150 years in jail for perpetrating one of the biggest frauds in history, he shocked the financial world even more when he claimed that he had acted completely alone.  However, US investigators are finally about to ...

 

What A Fine Messi 4 October 2013

The first appearances of football legend Lionel Messi and his father, Jorge, outside court last week in Barcelona looked more like a political rally than a tax evasion trial, with fans crowding outside the court shouting their support for the Argenti...

 

Britain Losing Billions Through Fraud 1 October 2013

According to a recent survey, the UK is losing billions of pounds to fraud every year and since the start of the recession the level of fraud has risen by 20 per cent. The survey, which studied fraud data from around the world over the last 15 years,...

 

SFO’s First Prosecution Under UK Bribery Act 27 September 2013

The first defendants to be prosecuted by the Serious Fraud Office (SFO) under the UK?Bribery Act appeared before Westminster Magistrates Court yesterday (September 23).  The SFO had charged the four men connected to Sustainable AgroEnergy with conspi...

 

Evidence For The Defence Required 9 September 2013

News that the serious Fraud Office (SFO) has this week charged Olympus with making misleading statements to an auditor means that the camera and medical equipment firm will have to find evidence in its defence.  This means that both sides will almost...

 

Found Out! 6 September 2013

A judge in the High Court has ordered a divorce settlement to be renegotiated after a London businessman was found to have lied about his wealth when the settlement was originally made.  In a landmark ruling, Sir Paul Coleridge ordered the settlement...

 

Finding the Money 3 September 2013

The National Audit Office has recently announced that it will be publishing a report later this year on the management and enforcement of confiscation orders, which usually requires the services of a forensic accountant to evaluate how much they shou...

 

Time Serving 28 August 2013

Simon Cowell’s pregnant lover, Lauren Silverman, has just been granted a ‘quickie’ divorce in the States from her husband of 10 years and it is alleged that she waited until their tenth wedding anniversary before telling him that sh...

 

Forensic Audits For Private Security Firms 12 August 2013

News that private security company G4S has this week withdrawn its bid for a £150m electronic tagging contract with the Government will come as little surprise, as the firm has been accused of overcharging on a previous contract by tens of millions o...

 

On The Defensive 22 July 2013

Bribery allegations have been in the news this week, with GlaxoSmithKline’s (GSK) finance chief in China being refused permission to leave the country while an investigation is being carried out into the firm’s Chinese operation, and Form...

 

Investigators Find Bugs That May Have Cost People’s Freedom 16 July 2013

The Post Office has this week revealed the results of an independent investigation, which proved there were software defects in its Horizon computer system, potentially leading to false claims against sub-postmasters, who, in some cases, went to jail...

 

Getting To The Bottom Of God’s Bank 12 July 2013

News on June 26 that Pope Francis has set up a commission of inquiry to review the activities of the Vatican bank means that an army of investigators are set to pore over details of its 19,000 accounts, 114 employees and £4.6bn worth of assets.  It w...

 

Mandate Fraud Increasing 10 July 2013

A foiled attempt to defraud a borough council in Wales out of over £2 million, has highlighted the need for businesses to not only be vigilant when it comes to financial transactions with customers and contractors; but to also employ the services of ...

 

The End Of A Partnership 27 June 2013

The High Court ruled earlier this month that the intellectual property rights for software created within a now-defunct partnership had belonged to the partnership rather than the partner who created it, who was the ex-wife of the other partner.  As ...

 

The Fraud Facts 6 June 2013

The National Forensic Authority has recently published its Annual Fraud Indicator, which reveals that the estimated loss to the UK economy on an annual basis through fraud is £52bn, although the report also points out that the fraud reported is &ldqu...

 

Hiring A Forensic Accountant In A Divorce Will Pay For Itself 31 May 2013

Considering that divorce is up there with bereavement and moving home as one of the most traumatic things a person can expect to endure in his or her lifetime, not to mention an expensive exercise, it is no wonder that people wonder whether employing...

 

Experts instructed by Unrepresented Parties (Previously known as litigants in person) 30 May 2013

What difference does an unrepresented party make to the way an expert witness would wish to be instructed and paid? Legal aid cuts introduced in April 2013 will to a great extent remove public funding for civil  proceedings  i.e. that part of our le...

 

What’s It Worth? 29 May 2013

The BBC recently reported that campaigners opposed to the high-speed rail line through the Midlands are seeking legal advice on taking the Government to court; a move which acts as a reminder that forensic accountants can not only be used in high-pro...

 

The Lifestyle To Which One Has Become Accustomed 20 May 2013

Although the Office for National Statistics says that the divorce rate is the lowest it has been since 1977, in 2011, which is the most recent year it has statistics on, 10.8 marriages in 1,000 still ended in divorce and the landmark White v White ca...

 

Give Me The Bad News First 26 April 2013

There are daily accounts in the news of people who have been found guilty of embezzlement, fiddling their tax, hiding assets in divorce cases or perpetrating fraud on a grand scale, but little or nothing is heard about those who are accused of such c...

 

Forensic accounting methods save taxpayers over £1bn 22 April 2013

The National Audit Office announced last month that its National Fraud Initiative (NFI) has saved the taxpayer over £1bn through employing forensic accounting methods and tracking cash lost through fraud, overpayment or error.  As forensic accountant...

 

Forensic Accountants Could Check Financial Applications 12 April 2013

As credit rating agency Experian reveals that mortgage fraud jumped by nearly 10 per cent last year, mortgage companies may have to ask forensic accountants to verify applications.  According to Experian, 38 in every 10,000 mortgage applications was ...

 

Fears over benefit fraud 5 April 2013

With the introduction of Universal Credit giving rise to fears of mass benefit fraud, officials suspicious of people would do well to follow the methods of forensic accountants in tracking down offenders.  Universal Credit will replace benefits inclu...

 

Finding The Fiddle 15 March 2013

As two former Crown Prosecution Service employees are convicted of making more than £1m worth of bogus claims for taxi fares, suspicious employers could put their minds at rest – or find out if their concerns are valid – by getting a fore...

 

Following the Money Trail 11 March 2013

Finding the assets of criminals can be very difficult when people are determined to hide them but the case is made even more difficult when the perpetrators know exactly what they are doing, as in the recent case of two professionals who laundered mo...

 

Investigative Accountants To Find QC’s Money 4 March 2013

As a high-flying London barrister starts a three-and-a-half year sentence for evading VAT over a twelve year period, investigative accountants must start the lengthy process of finding the cash he withheld from HM Revenue & Customs (HMRC).  Rohan Per...

 

Divorce Hot Spots 1 March 2013

As the top ten hotspots for divorce in the UK are named, divorcing couples should ensure that they have the number of a good forensic accountant in case their current other half tries to hide any of the joint assets to which they are entitled.  Unfor...

 

Forensic Accountants Find ‘Systemic Fraud’ 25 February 2013

Three more people have been arrested over alleged fraud at welfare-to-work company A4e, highlighting the importance of forensic auditors, who first picked up on anomalies at the company in 2009 during a routine internal audit.  The audit unearthed ev...

 

Forensic Accounting Helps To Convict In Insurance Fraud 22 Feb 2013

A claims management company has been shut down and two fraudsters jailed after a ‘crash for cash’ fraud ring was exposed through the work of the Metropolitan Police and painstaking backroom work on the criminals’ financial dealings....

 

Investigative Accounting Useful In Due Diligence 4th February 2013

With the news that Caterpillar Chief Executive Doug Oberhelman has accepted blame for overpaying a key acquisition in China because of a “deliberate accounting misconduct”, it would be wise for businesses to remember to bring in the inves...

 

Following Fraudsters’ Money 28th January 2013

With fraud of some sort or another being in the news almost every day, forensic accountants are being thrust into the limelight, with an article on the practice being used in divorce settlements even making it into the London Evening Standard this we...

 

Hiding Assets Won’t Work 21st January 2013

A former property tycoon, who attempted to hide his £400m fortune in an attempt to prevent his wife getting a fair share of the assets after their divorce was jailed this week for his “deliberate” refusal to prove how he lost the money. J...

 

Forensic Investigation Uncovers Business Loans Corruption 14th January 2013

Following a large-scale investigation into corruption, fraud and money laundering at a high street bank, which took over two years to come to fruition, Thames Valley police have charged eight people, including two former senior managers at HBOS. All...

 

Olympus CEO Called In Forensic Accountants 4th January 2013

The first CEO to turn whistleblower, Michael Woodford, last month published a book on how he eventually called in forensic accountants to get to the bottom of the fraud that threatened his livelihood, health and even at one stage, his life. Mr Woodfo...

 

Investigative Accountants Going Global 14th December 2012

After As the investigation into wrongdoing over the rigging of the Libor rate continues, international regulators have now uncovered evidence leading to the arrest of two executives at broker RP Martin, while another brokerage has been asked to provi...

 

Investigative Accounting Brings About First Land Banking Convictions 14th December 2012

After what has been described as a “complex and painstaking investigation” into the accounts, lifestyles and business practices of a couple of conmen, the UK’s first criminal convictions and prison sentences for a land banking fraud...

 

Investigative Accounting Aids Insurers Beat Cash For Crash Scams

The Insurance Fraud Bureau’s (IFB) statistics from earlier this month reveal that undetected general insurance claims fraud total £2.1bn a year, adding on average £50 to the annual costs individual policyholders face, each year. Following an i...

 

Rogue Trader Brought Down By Investigative Accounting

The recent jailing of former UBS trader Kweku Adoboli for what the police describe as the UK’s biggest ever fraud, is in part due to the internal investigation launched in the summer of 2011 and headed by a forensic accountant. The accountant ...

 

Litigation Support For Business

Forensic accounts are often associated with fraud, recovery of assets and finding cash in overseas accounts in criminal cases or locating where spouses have hidden assets in the divorce proceedings of the wealthy. But they are just as vital in scruti...

 

The Chimera on The Springboard

Moylan J described the ostensible accuracy of private company valuations as being no more than a chimera whose purpose was to assist the court “in testing the fairness of the proposed outcome”. His view is shared by many judges and even t...

 

Picture Your Forensic Accountant in the Hot Tub….

...And Ask Yourself How You Feel About the Mental Image You Have Conjured Up. It seems likely that the giving of concurrent evidence by expert witnesses, so-called ‘Hot-tubbing’ is likely to become ever more common, not least because the...

 

Placing a Value on Free Time in Loss of Earnings Cases

Consider a self-employed consultant who claims compensation for loss of earnings as a result of a personal injury. Suppose that the Claimant earned £30k pa before the accident and but has earned only £15k after the accident, as evidenced by accountin...

 

Unprosecuted mortgage fraud in criminal lifestyle confiscations

R v Waya – the UK Supreme Court judgment Written on 16 November 2012 by David Winch in 10 most popular this month, Case law, Confiscation, Fraud, Prosecutions. The Supreme Court judgment in the case of R v Waya in November 2012 may prove to be...

 

Proceeds of Crime Act Nets Millions 7th December 2012

Thanks to the diligence of investigative accountants, West Yorkshire Police were able to reveal yesterday (November 6th 2012) that they have increased the amount of cash taken though the Proceeds of Crime Act (POCA) every year since 2007 and last yea...

 

The Money Laundering (Amendment) Regulations 2012 by David Winch

Amendments to the Money Laundering Regulations 2007 came into force on 1 October 2012, but what effect will these have on practitioners?  The answer in most cases is likely to be ‘little or none’. It is now five years since th...

 

Confiscation – available amount

This article by David Winch article considers what is meant by a defendant’s ‘available amount’ and explains some of the rules the court must follow in determining the ‘available amount’. In confiscation proce...

 

Money laundering – entering into an arrangement – s328 PoCA 2002 by David Winch

Prosecutors are sometimes tempted, unwisely, to strain the meaning of statutory provisions in order to charge a defendant.  There have been a couple of successful appeals recently against money laundering convictions unders328 Proceeds of Crime ...

 

Forensic accountant for the high jump in charity bid

One NIFA member is aiming high in a bid to raise money to help adults with acquired brain injury. Forensic accountant, Roger Isaacs, is set to take one small step for him and one giant leap for the charity, Headway Somerset. Announcing his sponsore...

 

Local authority to use Proceeds of Crime Act to crack down on rogue landlords

A London local authority is to crack down on rogue landlords using a law normally seen in fraud cases involving forensic accountancy expert evidence. Newham Council is to apply the Proceeds of Crime Act, originally aimed at stripping drug dealers of...

 

The use of experts, including forensic accountants, is to be cut back in Family Court

The use of experts in Family Court, to include forensic accountants, is to be curbed under new UK Justice Ministry proposals. As a report by Mr Justice Ryder on the operation of child proceedings is published, the Lord Chief Justice, Lord Judge, war...

 

Forensic accountants soon to dip a toe in the evidential 'hot tub'

Experts have given a broad ‘thumbs up’ to evidential ‘hot tubbing’ in Court in experiments that could soon be introduced in trials involving forensic accountants. The new practice, where experts give evidence in the witness b...

 

Forensic accountants and other experts consulted in Family Court changes

Forensic accountants are amongst a wide variety of experts being consulted over proposed changes in the way specialists are used in Family Court. Hot on the heels of an update of the civil experts code, the move is aimed at private law financial rem...

 

Forensic accountants feature in new experts code

Forensic accountants are being asked to brush up on a new version of the Experts Protocol published by the Civil Justice Council. The total rewrite, titled ‘Guidance for the instruction of experts to give evidence in civil claims 2012’, ...

 

Forensic accountants unlikely to be caught on camera

UK Justice Secretary Kenneth Clarke QC has unveiled plans to allow cameras in Court for the first time in British legal history but it seems unlikely that forensic accountants and other experts will appear live on TV. Mr Clarke said the move was aim...

 

Forensic accountants key to a six million pound ‘fish scam’ confiscation hearing

Illegal fish catches cost nearly fifty million pounds in lost revenue, according to forensic accountancy evidence being considered by the High Court in Edinburgh.   In a case that has become known as the ‘black fish’ scam, prosecut...

 

Firm mounts fightback after forensic accountants uncover scandal

Shareholders at global camera giant, Olympus, have voted in a new board after forensic accountants in Japan uncovered a one billion pound scandal involving the hiding of losses going back over twenty years.   The company had nominated new memb...

 

Watch out there’s a forensic accountant about !!

Judges and forensic accountants appear to be the professionals to watch for when it comes to keeping a close eye on business expenses, according to an article in the Irish Times on the latest consumer gadgets.   It describes one expenses track...

 

Row breaks out over allegations that corruption investigation lacked forensic accountancy evidence

A row has broken out over allegations by former Irish Prime Minister Bertie A'Hern that an anti-corruption tribunal report “..had been arrived at without deploying the services of a forensic accountant..”   The fomer Taoiseach's st...

 

Recruitment drive unearths the origins of modern forensic accountancy

The early origins of forensic accountancy have come to light from an unexpected source, the latest recruitment drive by the FBI to boost the number of investigators employed to follow the money and unearth evidence of modern crimes from terrorism to ...

 

Forensic accountants on standby to figure out allegations of expert witness perjury

Forensic accountants are set to check out the financial impact of allegations that expert witnesses have made false claims that could add up, said a senior judge, to perjury ‘on an industrial scale’.   The allegations come amid a l...

 

NIFA member gets to grips with money laundering

In the latest crackdown on suspected money laundering, officers from HM Revenue and Customs have raided a canal boat moored in the centre of Leeds and arrested a sixty four year old man in a joint operation with police and the UK Border Agency. The ...

 

Forensic accountants to face giving 'paperless' evidence in Court

The Crown Prosecution Service is to experiment with 'paperless' criminal trials as lawyers in selected Courts are given laptops and electronic tablets. The plan could mean expert witnesses including forensic accountants giving evidence electronicall...

 

Forensic accountants campaign against Government legal aid fee cuts

Forensic accountants are among a wide range of experts who have launched a campaign for a judicial review of a Government decision to force through caps on expert fees in publicly-funded cases before the Family Court. The organisation, known as the ...

 

Witness fees 'row' hits leading UK accountancy firm

The Government of the Channel Island state of Jersey has claimed that a leading accountancy firm billed inappropriately for the cost of attending a hearing that was set up to examine the costs of a state enquiry into child abuse on the island. Deput...

 

Isle of Man tax haven more open thanks to forensic accountants

Forensic accountants, economists and lawyers at the heart of an organisation campaigning against tax havens have praised the Isle of Man Government for their efforts to make money laundering and tax avoidance more difficult. The Tax Justice Network ...

 

Forensic accountants help uncover theft of charity money

Howard Rose (c) BBC News     A sixty-three year old charity administrator is serving a fifteen month jail term after he admitted stealing more than seventy six thousand pounds from a children's charity. York Crown Court was to...

 

Forensic accountants in energy price investigation

UK energy industry regulator Ofgem has called in forensic accountants as it steps up its investigation into pricing by the big six suppliers. The action has been prompted by EDF Energy's decision to put up its gas prices by 15.4 per cent and electri...

 

Accountancy giant denies allegations that it missed US mortgage fraud

A leading international accountancy firm is facing allegations that it did not use sufficient forensic skills to detect fraud while auditing an American mortgage company that went under in the US housing crash. Complaints have been filed in a Florid...

 

UK audit industry faces competition investigation

After much discussion, consumer watchdog, The Office of Fair Trading, has decided to call for an independent inquiry into the audit industry following criticism of the actions of four of Britain's largest accountancy firms. The OFT started to exam...

 

MPs criticise the taxman for poor customer service

Within days of admitting under-ordering paper for tax statements, Her Majesty's Revenue and Customs has once again been forced to apologise, this time for poor customer service. The criticism came from the Treasury Select Committee of MPs, who con...

 

Self assessment paper problems no bar to accurate tax payments

Around half a million self-employed taxpayers are being given an extra two months to make their July tax payment because of an error by the UK tax authorities. It's been revealed that Her Majesty's Revenue and Customs did not order enough special ...

 

Expert witness immunity against suit falls in landmark Supreme Court decision

In a landmark Supreme Court decision, a panel of seven senior judges has decided that expert witnesses, across the criminal, family and civil courts, should no longer have immunity from claims against them for breach of duty in contract or in neglige...

 

What the NIFA member had to say on the collapse of a Christmas savings company

When a Christmas savings company collapsed, BBC News turned to NIFA for specialist advice to find out why it happened. Farepak borrowed £34 million pounds from bankers to buy the savings business but three years later sold it for less than...

 

Prominent former MP declared unfit to face trial over parliamentary expenses charges

An ex-MP due to stand for trial accused of fiddling her parliamentary expenses has been declared unfit to stand trial. NIFA News has learnt that, according to consultant psychiatrist Philip Joseph, the former member for Luton South, 56 year old Marg...


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