UK launches fraud reform bill

Financial Crime

The new paper proposes to define fraud in three ways – through false representation, by wrongfully failing to disclose information, and by abuse of position. It will also repeal the common law conspiracy to defraud offence, because it is deemed too flexible and open to potential abuse by prosecutors. Other potential subjects to be included in the bill are an offence for possession of equipment to commit frauds, making off without payment, phishing (creating a replica of an existing Web page to

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