The UK’s new Corporate Offences of Failure to Prevent Facilitation of Tax Evasion (COFPFTE) Act may trip up British telcos when calls are unlawfully terminated overseas.
The conclusion of this two-part series reviews how bribery claims prompted Ericsson’s anti-corruption approach to evolve.
The first part of this two-part series summarizes how Ericsson came to be accused of paying bribes in 18 different countries.
The Proceeds of Crime Act (POCA) lets UK authorities seize the profits of fraud, but data shows it was used only twice in 3 years.
Figures from police and prosecutors help to explain why the UK has a serious problem with telco fraud.
Telcos are starting to provide free services to better compete with OTT providers and retain market share. But have they considered that free services still generate fraud leaks?
The Risk & Assurance Group has been busy encouraging the prevention of fraud. Two prominent British anti-fraud organizations were invited to reach out to members.
Telcos may never eliminate bribery and corruption, but they will not pay such huge fines if they take simple steps to discourage unethical behavior.
Criminals who exploit mistakes made by telcos can still be guilty of a crime.
The UK could set a global precedent by using the Proceeds of Crime Act to confiscate money made from telecoms fraud, but only if telcos show their support.