Clifford Chance partner and former head of the Serious Fraud Office George Staple QC is the chair of the new Fraud Advisory Panel, set up by the Institute of Chartered Accountants of England & Wales.
Staple, head of Clifford Chance's financial services investigations and disputes department, said that the aim of the panel is to increase collective awareness of business fraud and to provide more information on how it can be prevented. He describes the threat to business and investment as “ever present and growing”.
Over 50 organisations will be represented on the panel. They are drawn from both the public and private sectors. All, said Staple, are united by a common interest in the prevention of business fraud.
The participants range from the police and HM Customs & Excise to banks and accountancy and law firms. Clifford Chance, Herbert Smith, Frere Cholmeley Bischoff and Barlow Lyde & Gilbert will all be involved.
The panel is to set up three working parties. The first will gather intelligence in order to analyse where business fraud is occurring.
Another will look at the methods of prevention of such fraud with particular emphasis on education, training and the dissemination of information.
The third working party, headed by Howard Page QC of One Hare Court, will cover the investigation and prosecution of business fraud.
