The alleged financial wrongdoing occurred between 2012 and 2016.

THREE people appeared in Cardiff Magistrates' Court on Tuesday (8) charged with fraud totalling more than £5 million at Cardiff Sixth Form College, once featured in a BBC documentary as "Britain's Brainiest School".

Yasmin Anjum Sarwar, 43, and Nadeem Sarwar, 48, both denied nine separate fraud and theft charges. The third defendant, Ragu Sivapalan, 39, pleaded not guilty to false accounting between 2013 and 2016, reported the Telegraph.

https://www.easterneye.biz/three-accused-over-ps5m-fraud-at-top-cardiff-college/

A CHILDREN'S nursery finance manager has been jailed for more than two years after economic crime investigators were able to uncover the vast scale of a fraud.

Kerry McGavigan worked for The Enchanted Wood Nursery, which is based in Benfleet, for seven years.

She had sole responsibility for the nursery’s accounts and raised numerous false invoices for work which was either never carried out or was carried out but for a fraction of the bill. All of the money associated with those fake invoices was paid into her own accounts.

The former finance manager also spent about £20,000 using the company credit card incorrectly.

https://uk.news.yahoo.com/finance-boss-south-essex-nursery-145112641.html

Serious Fraud Office (UK) sets out next steps in ambitious plan

The SFO has published its plan for the year ahead focusing on using new tools, enhancing its intelligence capacity and working ‘more vigorously’ with domestic and international partners.

This year, the SFO aims to use the new “failure to prevent fraud” offence, part of the Economic Crime and Corporate Transparency Act, which comes into force in September. The plan includes refreshed corporate guidance for engaging with the SFO and advancing plans for a #whistleblower incentivisation scheme. #ECCTA #FTPF #Fraud

Read the full SFO 2025-26 Business Plan including a message from Nicholas Ephgrave QPM Director of the Serious Fraud Office.

https://assets.publishing.service.gov.uk/media/67ee4e86199d1cd55b48c6e8/SFO_2025-26__Business_Plan.pdf

• Identity fraud remains dominant, with criminals favouring impersonation tactics
• Increases in account takeover and false applications
• Despite the challenges, UK organisations still prevent £2.1bn in fraud losses

Cifas, the UK’s leading fraud prevention service, has published its annual Fraudscape report today (3 April) which reveals a staggering 421,000 cases were filed to the National Fraud Database (NFD) in 2024 – a 13% increase and the highest number on record.

The sharp rise is one of the largest annual increases ever observed by Cifas, underscoring the growing scale and complexity of fraud in the UK. Its members also recorded a case to the NFD every two minutes, preventing over £2.1bn in fraud losses.

https://www.cifas.org.uk/newsroom/fraudscape-2025-record-fraud-levels

A haul of items seized by police reveals the scale and threat of payment fraud – a crime that can have significant emotional impact on victims.

On a shelf between Alexander McQueen shoes, Louis Vuitton handbags and Versace heels in the police evidence room are an 18-inch machete and a serrated zombie knife. Alongside the expensive fashions bought with the proceeds of serious fraud are the tools needed to achieve it, says DCI Paul Curtis.

“These are serious offenders and for whatever reason they felt the need to have these to protect themselves,” he says. Among the other tools are “Sim farms” bought on the dark web, which scammers use to send out numerous text messages at once; stacks of laptops; and mobile phones and payment card readers.

The tools and spoils of crime have come from raids headed by the Dedicated Card and Payment Crime Unit (DCPCU), whose offices the Observer visited this month. Tasked with uncovering payment fraud across the country and charging the perpetrators, this group of officers from the City of London and Metropolitan police forces are at the forefront of the battle against fraud.

https://www.theguardian.com/money/2025/mar/31/changing-threat-police-hunting-hi-tech-scammers-uk-billions?CMP=share_btn_url

The ACFE and ACCA to focus on research and learning in three-year MOU.

AUSTIN, Texas (March 27, 2025) – With fraud continuing to plague businesses and the wider economy, the Association of Chartered Certified Accountants (ACCA) and the Association of Certified Fraud Examiners (ACFE) have signed a Memorandum of Understanding (MoU) to collaborate in key areas, including thought leadership research and learning.

The partnership will build on existing thought leadership collaboration, including on an upcoming ACCA report on combatting fraud, to identify new joint research opportunities.

The MoU — which is for an initial period of three years — explores opportunities for the development and joint organization of continuing professional development (CPD) and continuing professional education (CPE).

Helen Brand, ACCA chief executive, said: 'ACCA has had a long-standing commitment to empowering members to better address and manage fraudulent activities, focused on improving risk assessment, robust controls and forensic auditing.

'This MOU reinforces that commitment. We look forward to working with fellow global professional body ACFE in promoting the highest ethical business standards.'

One immediate outcome of the MOU is ACCA's attendance at the 2025 ACFE Fraud Conference Europe in London (March 24-26) where a joint panel discussion, led by ACCA's global head of risk management and corporate governance for policy and insights Rachael Johnson, focused on cyber fraud and AI-powered attacks as well as AI-powered solutions to detect them.

https://www.acfe.com/about-the-acfe/newsroom-for-media/press-releases/press-release-detail?s=ACFE-ACCA-partnership-announcement-pr

Examining social engineering tactics and the escalating risks facing organisations, SoSafe, the security awareness and human risk management solution, has revealed that AI’s usage in cyberattacks has skyrocketed, with nearly nine in 10 respondents encountering some form of attempted breach.

The SoSafe report, called 2025 Cybercrime Trends, explored the views of 500 global security professionals as well as 100 SoSafe customers across 10 countries. AI was a major talking point raised by the respondents, with 91 per cent of all security experts anticipating a significant surge in AI-driven threats over the next three years.

Only 26 per cent express high confidence in their ability to detect these attacks. Given that 87 per cent of firms admitted to experiencing some form of AI-driven cyberattack in the last year, it is extremely concerning that just over one in four firms are confident in their own abilities to deal with an attack.

https://thefintechtimes.com/sosafe-reveals-fraud-levels-set-to-rise-employee-training-is-key-to-fight-ai-driven-cyberattacks/

Environment Agency and partners worked together to secure the arrests following an extensive investigation.

Two men were arrested for fraud and money laundering recently (Wednesday 12 March) as part of an ongoing investigation into illegal recycling export paperwork.

Officers from the Environment Agency and North West Regional Organised Crime Unit worked together to secure the arrests and custody of the suspects following an extensive investigation which found packaging export notes, used by law-biding firms exporting waste to cover recycling costs, were unlawfully sold for £747,000.

A 45-year-old man was arrested at a property in Rusholme, while a 43-year-old man was detained in Stretford. Both have now been interviewed and released on bail, while evidence gathered by the Environment Agency during the arrests will support the next part of their investigation.

Vernon Smith, Acting Deputy Director for Environmental Markets and Regulation at the Environment Agency, recently said:

Fraud in the recycling industry is waste crime. It undercuts legitimate businesses investing in growth in the circular economy, impacting the environment we are striving to protect. The Environment Agency is determined to clamp down on it.

Working with the North West Regional Organised Crime Unit, these arrests are a significant milestone for our extensive investigation. Our teams will now examine the evidence gathered to bring these individuals to justice and end their fraudulent activities once and for all.

Detective Chief Inspector Zoe Russo from the North West Regional Organised Crime Unit added:

These arrests highlight the importance of collaborative efforts in tackling organised crime. We are committed to working with our partners to disrupt and dismantle criminal networks involved in waste crime and other illegal activities. The evidence collected will be crucial in ensuring those responsible are held accountable.

The Packaging Producer Responsibility Regulations were introduced to oblige the producers of waste packaging such as plastic, glass and cardboard to contribute towards the financial cost of recycling and disposing of the waste.

Businesses that meet the criteria are required to prove they have made a financial contribution by purchasing credits, known as Packaging Export Recovery Notes, from waste reprocessors or exporters. However, the credits have a monetary value which means organised criminal gangs can look to infiltrate the sector and engage in high value fraud and money laundering.

This investigation forms part of large-scale activity by the Environment Agency to stamp out fraud and money laundering in the waste sector. If a member of the public has any information that may assist with this investigation, they should call the Environment Agency’s 24-hour hotline on 0800 807060. They can also report it anonymously via Crimestoppers on 0800 555111 or their website

https://www.wired-gov.net/wg/news.nsf/articles/Manchester+pair+arrested+over+recycling+fraud+14032025132500?open

Ted Datta from Moody’s explains how to strengthen fraud defences with innovation and collaboration

In an era where fraud schemes are increasingly sophisticated and prevalent, the need for businesses, banks, and government teams to shore up defences has never been greater. In the UK, Public-Private Partnerships (PPPs) are essential in bringing together stakeholders, including big tech companies, banks, fintech firms, credit lenders, and government departments to collaborate on addressing fraud and financial crime more widely.

Why the emphasis on collaboration? The financial impacts of fraud are significant to both government and commercial revenues and individual victims. Fraud losses are estimated at more than $1 trillion globally each year, so PPPs have a crucial role to play in tackling scams and reducing losses.

https://www.openaccessgovernment.org/strengthening-fraud-defences-with-innovation/189847/

The Serious Fraud Office (SFO) has signed Clue Computing to provide a cloud based case management system for its investigations.

They have agreed on a £4.5 million contract – duration unspecified – for the company to provide an off-the-shelf but configurable solution based in the UK. The latter point responds to the SFO’s need to return the information in the UK due to the sensitivity of the cases it handles.

The contract award notice says the company “will be responsible for the technical configuration and implementation of the solution”, which will have the flexibility and adaptability to “permit SFO to maintain resilience against inevitable change”.

Clue is a specialist in investigation and intelligence management software, with existing customers including the Department for Education and the Veterinary Medicines Directorate

https://www.ukauthority.com/articles/serious-fraud-office-signs-clue-for-case-management-system/