Word: london
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...management, often a company's eyes and ears for detecting illicit activity, regularly bears the brunt of redundancies during a slowdown. "When that layer's removed, you've eroded your internal processes which are there to control fraud or misconduct," says Hitesh Patel, fraud-investigation partner at KPMG in London. A key factor in fraud cases during Britain's last recession, in the early 1990s, it amounts to a "change to business strategy, without a change to the business process," says Patel...
...adult Britons said hard economic times made committing insurance fraud more acceptable. We're seeing that already: the number of fraudulent claims rose 17% in the U.K. last year, with commercial claims accounting for a third of their value. (See pictures of the financial crisis in London...
...because of looking at their businesses, they're starting to find more fraud." So, too, are company liquidators. With insolvencies among U.K. companies rising amid the downturn, disqualification proceedings against the firms' directors for fraud or theft rose 72% in the year to April, according to figures compiled by London law firm Wedlake Bell...
...Read "London's Small-Stock-Market Blues...
...until the mid-1970s. The musical opened on Broadway in 2001, and has played around the world, even sparking raucous laughter from Jews in Tel Aviv. But until now, no one had the nerve to host it in Berlin. Germans who wanted to see it had to go to London, New York City or Vienna. (See 10 things to do in New York...