COMMERCIAL FRAUD

Our professional and helpful team can help your business with Commercial Fraud

 

Fraud and Cybercrime make headline news on an almost daily basis affecting both individuals and corporations alike, and often a combination of both.

 

Typical examples of Corporate Fraud include:

 

Account takeover, Application fraud, Bankruptcy-related fraud, Betting scams, Business directory fraud, Charitable publication scams, Cheque fraud, Cheque overpayment fraud, Domain name scams, Exploiting assets and information, Fake invoice scams, False accounting, Fixed line fraud, Government agency scams, Insurance fraud, Intellectual property fraud, Long and short firm fraud, Mobile phone fraud, Mortgage fraud, Office supply scams, Payment fraud, Personnel management, Plastic card fraud, Ponzi schemes, Premium rate phone line scams, Procurement fraud, Pyramid schemes, Receipt fraud, Share sale fraud, Travel and subsistence fraud

COMMERCIAL REPUTATION MANAGEMENT

Our professional and helpful team can help your business with Reputation Management

 

Reputation protection begins with safeguarding your Intellectual property rights in terms of your patents, trade mark and copyright and enforcing any infringement swiftly and robustly. In the development and licensing of your idea clear an effective confidentiality and non-disclosure agreement is as essential as the confidentiality, restrictive covenants and non-competition clauses in your employment and consultancy contracts. We can advise and assist you in deciding the level of protection your individual business requires and give effect to it within our fixed fee and hourly rate services.

 

During the course of running your business you will inevitably learn that you cannot satisfy everyone all of the time but the manner by which you address issues regarding dissatisfaction from customers, staff and suppliers can often strengthen an ongoing relationship. In circumstances where social media is used to “vent” we can assist in moderating and ultimately removing inappropriate material.

 

We will listen, advise and act upon your own unique requirements matching the best levels of protection available to your defined needs.

 

Fraud Case Study:

 

A large corporate client suffered a “spear phishing” fraud resulting not only in the loss of a substantial sum of money but damaged their reputation to the extent they lost ongoing business from 2 customers and a number of staff.

 

The fraud itself was simple and undertaken against 1000’s of businesses irrespective of location and size every day.

 

In this instance both the Managing Director and the Financial Controller, among other senior staff, were attending a charitable golf day that had been promoted widely within their locality as had the firms support for the event.

 

Late afternoon the “spear phishing” email landed in the inbox of the finance department, purportedly from the Managing Director, and to the unaware looked perfectly legitimate, insisting that a payment be made to a third party by close that day. The content of the email appeared reasonable as it was designed to and referred to the MD as authorising the payment instead of the FC as he was otherwise engaged at the event.

 

Originally the finance department were concerned by the request as it did not follow their well-established procedure, but still appeared credible.

 

No one thought to contact the MD and when the second limb of the attack came by way of a further email chasing confirmation that the payment had been made from the FC the department acted and made the payment.

 

A simple scenario of key staff not being available, inadequate alternative arrangements in place and a reluctance to ask and challenge the request resulted in loss both in financial and reputation.

NEED HELP?

We offer legal advice to businesses. If you would like to contact us or book a consultation with a member of our team

please click below and we will direct you to our request forms or call 01795 472 291

enquiries@jarmans-solicitors.co.uk

enquiries@jarmans-solicitors.co.uk

SOLICITORS / PERSONAL AND BUSINESS LEGAL ADVICE

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