(L-R) Laura Dunseath, Barrister and Legal Director, Eversheds Sutherland; keynote speaker Emma Luxton, Head of Proceeds of Crime and International Assistance, Serious Fraud Office; Bill McCluggage, Chair, NI Fraud Forum; Ashok Thomas, Corporate Finance and Management Consulting Director, FPM; and Owen Poole, Customer Success Executive, Altia.
The first ever Northern Ireland Fraud Forum Annual Conference took place in Belfast this morning as newly published figures show fraud is becoming much more prevalent during the cost-of-living crisis.
Held at the Hilton Hotel Belfast, the conference brought together private, public, and third sector organisations from across Northern Ireland. Taking place during International Fraud Awareness Week, the conference followed a successful launch of the body back in April this year and a number of masterclasses on fraud and financial crime for members throughout the year.
The Northern Ireland Fraud Forum was established earlier this year and is an innovative private-public-third sector partnership which aims to spread awareness of the dangers of fraud and white-collar crime in Northern Ireland. The body is comprised of private sector industry professionals like Eversheds Sutherland, Grant Thornton, and FPM-AAB, as well as representatives from public organisations like HMRC and the PSNI.
The inaugural NI Fraud Forum Conference came as new data published by Cifas, the UK’s leading fraud prevention service, revealed that cases of fraud have continued to soar during the cost-of-living crisis across the UK. In the first nine months of 2022, over 309,000 cases were recorded to the National Fraud Database, a 17% rise compared to last year. This also marks an 11% increase on pre-pandemic levels.
Today’s conference featured a keynote speech from Emma Luxton, Head of Proceeds of Crime and International Assistance at the UK’s Serious Fraud Office.
Other speakers included Mike Haley, CEO, Cifas; Robert Brooker, Chair, London Fraud Forum; Matthew Howse, Dispute Resolution and Litigation Partner, Eversheds Sutherland Belfast; and Laura Dunseath, Barrister and Legal Director, Eversheds Sutherland London; and Chris Wynne, Head of Financial Crime Prevention, Danske Bank.
Keynote speaker Emma Luxton, Head of Proceeds of Crime and International Assistance, Serious Fraud Office, and Bill McCluggage, Chair, NI Fraud Forum.
Bill McCluggage, Chair of the NI Fraud Forum, said:
“Today’s inaugural Northern Ireland Fraud Forum Annual Conference has come at a very significant time. As recent Cifas figures have shown, incidences of fraud are rising rapidly at a time when businesses and households are financially vulnerable. Firms are trading in particularly volatile and challenging times with rising costs, spiralling inflation, hikes in interest rates, and a looming recession, while households and workers have seen their disposable incomes decimated.
"According to the National Crime Agency, fraud is the most commonly experienced crime in the UK. Fraud offences reported to the National Fraud Investigation Bureau rose by 17% between March 2021 and March 2022, and the number of annual reported fraud cases has now reached a staggering 936,276 offences. The experience of businesses, organisations, and citizens in Northern Ireland is no exception and surely it is now time to collectively do more to challenge this crime epidemic.
“It’s clear that fraud is rising at an alarming double-digit rate and all of us are vulnerable to phishing attacks, scams, and fraudsters who are intent on hurting people financially. One of the Forum’s main aims is to raise awareness of fraud and we achieved that today. It was fantastic to be able to bring together representatives from the private, public, and third sectors to outline the current fraud environment and help organisations prevent costly and potentially permanent damage to their operations. This is an uncertain time for organisations of all kinds. Initiatives like the NI Fraud Forum are crucial in combatting white collar crime, fraud, and financial scams.”