Police failing businesses who are victims to fraud

July 30, 2014 tags: Blog

The figures speak for themselves. A report in the Evening Standard (link to source article) on 24th July said-

“A report by the Mayor’s Office for Policing and Crime says the police response to investigating fraud is “inadequate” highlighting that an “astonishing” small number of fraud cases are actually solved by police in London.

Figures show that a total of 81,631 frauds were reported to police by London businesses in 2013/14. 

A total of 758 of these were deemed “solvable” by the City of London Police run National Fraud Intelligence Bureau.

However, only 177 cases were passed to the Met to investigate and just nine were successfully prosecuted last year. Ninety five cases are still being investigated.”

The police are subject to resource limitations like any other public body, but these figure are lamentable. A business reporting a fraud has a 0.00011% chance of seeing the perpetrator successfully prosecuted. It is little wonder that businesses feel that the police simply are not interested in pursuing frauds. These are often seen as victimless crimes, often covered by insurance, and not headline grabbing priority like sexual and violent offences.

Cotswold Barristers knows what devastation can be wrought on a business by financial losses that cannot be recouped and has a dedicated team of investigators and prosecutors who can bring perpetrators to justice. On selected cases we work with no advance payment, as all our fees are recoverable from the state where the case is merited, even if no conviction results. On other cases we ask for some fees in advance, in order to establish that the case will meet this test.

A conviction, or even the threat of conviction, can be a powerful tool in recovering losses and obtaining justice. The court can order unlimited compensation, against fraudsters in person, and they cannot hide behind a company structure. As stated, all cases that we take to court will be paid for by the state, and there are no costs risks to the victim if the case is not classed as unreasonably brought. Also see THIS linked article.

Cases covered include-

Phone hacking fraud – link to recent case
Misuse of brands, copyrights and other intellectual property
Banking and accounting fraud
Financial services fraud
Intra-business fraud (frauds by other partners, directors, or senior and junior staff)
Advance fee fraud
Credit and deposit taking fraud
Theft of goods
Use of confidential information

Direct Public Access Barristers with Fixed Fees