Declan wrote:
I'd be happy to contribute towards the cost if someone else wants to take up a collection and buy the report. (If it goes online, as I assume it will, is this an example of a cypherpunkish "public good?")
Or I can try to call up and get 'em to send me a copy as a journalist.
---------- Praps a local bloke can help us out: The source is given as the D&T office in London: http://www.deloitte-touche-consulting.co.uk/about-us.html Deloitte & Touche Consulting Group, Stonecutter Court, Stonecutter Street, London EC4A 4TR. Tel: 0171 303 3000 Sure, I'll buy it and pay for Fedex too; got my Amex and FX numbers ready. John ---------- Financial Times, April 24, 1997, p. 3. EU fraudsters 'revel in fiscal paradise' Report urges Brussels authorities to crack down on $77bn cross-border corruption By John Mason in Brussels International fraud in the European Union could be costing governments, companies and individuals up to $77bn a year, a report commissioned by the European Commission has concluded. Crimes such as Internet abuse, counterfeiting, banking and investment frauds and smuggling pose an increasing threat which can only be countered by further international action, said Deloitte & Touche, the accountancy firm. Harmonisation of laws and regulations, improved co-operation between states and a greater stress on fraud prevention are needed if EU economies are not to be undermined by international criminals, the report said. Mr Will Inglis, the Deliotte & Touche partner responsible for the report, said: "There is clear evidence that determined fraudsters deliberately and cynical]y manipulate and take advantage of the different regulatory and monitoring regimes across the EU to perpetrate their frauds. In particular, we see the fraudsters taking advantage of havens of secrecy and fiscal paradises. Fraudulent activity in the Union has the potential to seriously distort competition and harm the citizens of the EU who end up paying the cost." The report identified 10 areas of concern: computer abuse, banking frauds, counterfeiting, investment fraud, confidence tricks, public sector fraud, fraudulent bankruptcy, insurance fraud, smuggling and money laundering. The type of crime varies considerably between countries. In the UK, financial services fraud is a problem because of the size of the industry, France suffers particularly from counterfeiting of luxury goods, while in Greece the smuggling of antiquities is second only to the drugs trade in terms of crime. However, across the EU, the removal of restrictions following the creation of the single market and technological advances have opened up opportunities for fraudsters, the report said. Perhaps the largest single threat comes from fraud through the Internet, Mr Inglis said. The potential for abuse of computer systems is huge, particularly since encryption technology is vulnerable to sophisticated computer abusers. The Internet is now also being used to manipulate financial markets. In other areas, fraudsters are becoming more sophisticated. Insider dealers are making more use of offshore havens to avoid detection while criminal syndicates with knowledge of banking practice have cheated banks. Not that frauds all need to be sophisticated. Italian investigators discovered that Libyan dinars were being taken to Naples to be literally "laundered" with a solvent and re-printed as D-Marks. The incidence of cross-border frauds is increasing faster than those which take place only within one country, with organised crime playing a substantial role, the report said. Other perpetrators of fraud, although on a lesser scale, include senior company managers. The report points to lack of legal harmonisation: In some EU states it is not even an offence to bribe somebody in a different country. Action against fraud can also damage a member state's economy. The use of "offshore" havens, some inside the EU, remains a common feature of fraud. But with some EU economies closely linked to the offshore world, the incentive to push for reform in this area is limited. Fraud, especially crossborder fraud, tends also to be given low priority compared to other crimes. There is also less political will to tackle money laundering when this involves fraud rather than drugs. The report concludes there are four priority areas - increased legal harmonisation, improved co-operation between member states, a greater concentration on confiscating fraudsters' assets and developing awareness of fraud prevention. [Bar chart] Corporate Fraud. Countries involved, with two bars for each showing: Number of cases involving each region and number of times countries in this region were mentioned as being of concern. EU countries Tax havens/fiscal paradises Eastern European countries Others (including US and Asia) -- "Fraud without Frontiers", L95, Deloitte & Touche, 1, Stonecutter St, London EC4A 4TR. [End]