On 30 January 2017, following a four-month trial, former HBOS employees Scourfield and Mark Dobson involved in HBOS scandal were convicted of fraud and corruption involving a scheme that cost the bank £245m. Scourfield pleaded guilty to six counts including corruption, and Dobson was found guilty of counts including bribery, fraud and money laundering.
The HBOS (Halifax Bank of Scotland) fraud trial was highly unusual in that senior bankers were convicted of crimes, including fraud and hiding the proceeds of crime, in the boom of irresponsible lending ahead of the 2008 crash. As Lloyds reopens compensation claims over HBOS fraud and almost a decade after the HBOS fraud victims will hopefully be finally compensated. Loyds damning review found that victims were not all treated equally after fraudsters plundered £1bn to fund sex parties, superyachts and lavish holidays. The victims were the taxpayer, small business customers of the bank, and HBOS shareholders.
Fraud Advisory Panel
Fraud Advisory Panel discusses the HBOS scandal in an executive breakfast briefing. Which will take a deep dive into the case and take stock of the significant challenges faced by counter-fraud professionals to ensure fair access to justice for those affected by fraud and financial crime, especially SMEs. The agenda is comprised of the following:
- The impact of the HBOS fraud on its victims.
- The practical challenges faced by law enforcement and prosecutors in large corporate frauds.
- The work of the APPG on Fair Business Banking to support SME victims.
- The key lessons that can be learnt from HBOS and how these can be used to inform proactive action to support victims.
- Nick Gould, Aria Grace Law
- Brian O’Neill QC, 2 Hare Court
- Anthony Stansfeld, Police Crime Commissioner, Thames Valley
- Kevin Hollinrake MP Thirsk and Malton, Co-chair, All Party Parliamentary Group on Fair Business Banking
In the chair
- Rachel Sexton, director, Fraud Advisory Panel
Time: 08:30 – 10:30
Venue: Live interactive session
Costs: FAP member £20+VAT; Non-member £30+VAT
Staying one step ahead of any critical risk to your organisation is part of being an effective business leader. Contact us today to get started on implementing a robust program that will serve you well for years to come. Get your FREE QUOTE now!
Have you read?
- Brexit poses new bribery challenges, ISO 37001 provides solutions
- Bribery and corruption plague Middle East, how can ISO 37001 help?
- As South Asia Grapples with anti-bribery compliance, ISO 37001 provides solutions
- Whitepaper: Organised catastrophe of international Pakistan airlines
- Rolls-Royce Case study: Ethics & Compliance
- ISO 37001 FAQ
- Are you ready for ISO 37001?
- Don’t have an ethical code of conduct? Your organisation needs one
Who is CRI Group?
Based in London, CRI Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business Intelligence, Due Diligence and other professional Investigative Research solutions provider. We have the largest proprietary network of background-screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are we have the network needed to provide you with all you need, wherever you happen to be. CRI Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.