Fraud, Bribery & Corruption: How does civil law and practice keep up with fast-moving developments in criminality; and how do you recover losses?

We are very delighted to have had the Chairman from UK Finance, Bob Wigley and Fran Marwood from PwC on the panel as well as Quadrant's Yash Kulkarni QC and Liisa Lahti. The evening was chaired by Robert-Jan Temmink QC.

The Panel considered the following:

  • Invoice Fraud - Liisa Lahti
  • Technology and Fraud - Bob Wigley, Chairman, UK Finance
  • Bribery - the current legal position - Yash Kulkarni QC
  • PwC Global Economic Survey Key Findings - Fran Marwood, PwC

The event was held at Quadrant Chambers, 10 Fleet Street, London EC4Y 1AU. 

Programme:

Invoice Fraud – Liisa Lahti
Invoice fraud covers a number of possible factual scenarios including situations where a fraudster submits a fake invoice that is paid or convinces a person or organisation to amend the payee details on a properly submitted invoice.  Liisa will discuss some of the possible consequences and claims arising in the context of such fraud.  Who suffers the loss?  What duties do the remitting and receiving banks owe to the payer and/or the payee?  Does the Payment Services Regulation assist?

Technology and Fraud – Bob Wigley, UK Finance
Bob Wigley, Chairman at UK Finance, looks at the latest uses of technology to combat card and/or wider fraud or money laundering.   

Bribery – the current legal position – Yash Kulkarni QC
Yash Kulkarni provides a tour of the law on bribery in the context of deals and commercial relationships, and some recent clarification of how responsibility for bribes is gauged.

PwC Global Economic Survey key findings – Fran Marwood, PwC
Fran leads this year’s UK version of the Global Economic Survey, the main findings of which are fraud, technology and bribery. Fran will share insights on issues related to economic crime, based on his experience from helping clients on matters related to accounting irregularities, fraud, bribery and corruption, anti-competitive behaviour, data loss, stock loss, asset tracing, cyber attacks, and a wide range of non-financial integrity issues.

Speakers

Chair: Robert-Jan Temmink QC

Robert-Jan Temmink QC is widely-recognised as a talented advocate and is listed as a leading practitioner in the legal directories.   Robert’s practice is broad, ranging from financial services, fraud and insolvency to multi-jurisdictional issues in insolvency and commercial law often in Chambers’ core areas of aviation, construction, energy and shipping.  Robert is a registered practitioner at the Dubai International Financial Centre Courts and appears there frequently.  He is called to the Bar in Northern Ireland and as a Foreign Legal Consultant in the State of New York.  He is often asked to work on cases in the Caribbean arising out of contractual, commercial or chancery disputes.  Robert is a Fellow of the Chartered Institute of Arbitrators and is a registered arbitrator at all of the large international arbitral institutions between London and Hong Kong. He is recommended as a leading silk for commercial dispute resolution, aviation and international arbitration. He is described as "...An extremely good advocate, who is very good at dealing with difficult situations and anxious clients. His written work is very strong and he brings clarity to cases..."

 

Liisa Lahti

Liisa Lahti has a broad commercial practice which includes commercial and contractual litigation, banking, finance, fraud, arbitration, offshore, commodities and international trade.

Before coming to the Bar Liisa spent two and a half years at Freshfields Bruckhaus Deringer. Liisa has also been seconded in-house at the (then) FSA.

Recent and ongoing matters include: an ongoing dispute between a real estate investment company and a major commercial bank relating to LIBOR manipulation, claims arising out of the OW Bunkers insolvency, including the Supreme Court case of PST Energy 7 Shipping v OW Bunker Malta (2016), litigation relating to cybercrime and invoice fraud in the context of online banking and a dispute concerning the enforcement of arbitration awards and the New York Convention - Diag Human SE v Czech Republic (2014). 

Liisa is recommended as a leading junior in commercial dispute resolution, banking & finance and shipping & commodities. In the latest editions she is described as ‘Very knowledgeable, thoughtful, creative and dynamic – a developing star of the Bar.’; "Very intelligent and very to the point." "Hard-working, bright, commercially minded and a real joy to work with. She made it so easy."

 

Bob Wigley, Chairman, UK Finance

Bob Wigley spent his banking career with Morgan Grenfell and Merrill Lynch and was EMEA Chairman of Merrill Lynch between 2003 and 2009. Between 2006 and 2009 he was a member of the Court of the Bank of England. He is a past member of the Takeover Panel, the FSA’s Senior Practitioners Panel and was the FSA’s nominated representative on the Council of European Securities Regulators Market Consultation Panel.

He led a group of industry Chairman and Chief Executives to author a report on the competitiveness of London as a global financial centre “London, Winning in the Decade Ahead” and chaired the Green Investment Bank Commission. Since leaving banking, he has chaired and invested in a number of Fintech companies. Bob was instrumental in the creation of TheCityUK and has been on its advisory board since its formation.

 

Yash Kulkarni QC

Consistently recommended as a leading barrister in the legal directories for Commercial Litigation, Commodities, Shipping and Information Technology, Yash has a broad commercial practice covering international trade, banking, fraud, information technology, insurance and insolvency. He is described by Chambers UK as: "...a formidable opponent… quick and clever, as well as wonderfully approachable and easy to work with.”  

He has appeared extensively in the Commercial Court, QBD, Technology and Construction Court and arbitration and has particular experience of applications for interim relief including applications to appoint receivers, freezing and search orders and asset preservation orders. He also experienced in applications for anti-suit injunctions. Yash has appeared in over 20 reported cases over the past 5 years alone.

 

Fran Marwood, PwC

Fran has over twenty years’ experience as a forensic accountant and has led many complex and high profile investigations, gained in both the UK and numerous emerging markets. He also has a broad range of experience leveraging technology in his work and helping clients to manage the risks associated with fraud and integrity issues. This includes the design, implementation, and evaluation of related risk and compliance programmes.