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UK internet users now account for over 50% of total population Dec 02 UK mobile internet Around half of internet users make use of mobile devices to access internet Aug 11 Sep 90 Jul 91 CODE THE COMPLY EXPLAIN The Combined Code on Corporate Governance The ‘Code’ is issued, consolidating the findings of several corporate governance reports Jun 98 Jun 16 UK votes to leave EU Fraud Act Receives Royal Assent Nov 06 Mirror Group Pension Scandal Black hole of £350 million revealed Dec 91 Sep 07 First UK bank run in 150 years This marks the start of the credit crunch in the UK Receives Royal Assent Apr 10 Bribery Act Rogue trader Kweku Adoboli loses his employer £1.3 billion Sep 11 2000 2010 Oct 86 Deregulation takes effect 'Big Bang' Deregulation takes effect. City trading transforms and reorganises, and electronic screens replace ‘open outcry’ pits ‘Big Bang’ Apr 88 1980 commences operations, under powers granted by the Criminal Justice Act 1987 Serious Fraud Office (SFO) closes down BCCI branches in the UK. Police raids conducted worldwide Bank of England Premier League Football First of several matches to see floodlight failures that are later linked to interference from an Asian betting syndicate Aug 97 The EU Single Market is introduced The first MTIC frauds begin Jan 93 FCA fines several banks a total of £1.1 billion for failing to control business practices related to the Forex scandal Nov 14 WannaCry Ransomware The attack affects over 230,000 computers, causing severe disruption to many organisations May 17 Aug 91 Jun 90 Misuse Act Computer Receives Royal Assent Computer Misuse Act Trading suspended following an SFO raid Polly Peck .www World Wide Web, developed by Sir Tim Berners-Lee at CERN, is opened to the general public POLICE Data Banking Other Politics, laws and agencies Management scandals Legend 0 + 0 0 + + 0 + + Sep 02 Many of the same banks were later fined a further £3.6 billion by U.S. law enforcement 1990 The Onion Routing (TOR) project TOR is first released - an anonymising network associated with the 'Dark Web' The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. © 2018 KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International. Produced by Create | CRT080393 30 years of tracking fraud Learning from the past to prepare for the future

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Page 1: 30 years of tracking fraud - KPMG...30 years of tracking fraud Author KPMG in the UK Subject Learning from the past to prepare for the future Keywords fraud barometer, 30 years, SFO,

UK internetusers now account for

over 50% of total population

Dec 02

UK mobileinternet

Around half ofinternet usersmake use of

mobile devicesto accessinternet

Aug 11

Sep 90

Jul 91

CODETHE

COMPLYEXPLAIN

The CombinedCode on Corporate

Governance

The ‘Code’ is issued,consolidatingthe �ndings of

several corporategovernance

reports

Jun 98

Jun 16

UK votesto leave EU

Fraud ActReceives

RoyalAssent

Nov 06Mirror GroupPension Scandal

Black hole of£350 million revealed

Dec 91

Sep 07

First UK bankrun in 150 years

This marks thestart of the creditcrunch in the UK

Receives RoyalAssent

Apr 10

Bribery Act

Rogue trader

Kweku Adoboliloses his

employer £1.3 billion

Sep 11

2000

2010

Oct 86

Deregulationtakes e�ect

'Big Bang'Deregulation takes e�ect.

City trading transformsand reorganises, and

electronic screens replace‘open outcry’ pits

‘Big Bang’

Apr 88

1980

commencesoperations,

under powersgranted by theCriminal Justice

Act 1987

Serious FraudOffice (SFO) closes down BCCI

branches in the UK. Police raids conducted

worldwide

Bank of England

Premier League FootballFirst of several matches to see �oodlight

failures that are later linked to interferencefrom an Asian betting syndicate

Aug 97

The EUSingle Marketis introduced

The �rst MTIC frauds begin

Jan 93

FCA fines several banks a total of £1.1 billion forfailing to control business practices related

to the Forex scandal

Nov 14

WannaCry Ransomware The attack a�ects over

230,000 computers, causingsevere disruption to many

organisationsMay 17

Aug 91

Jun 90

Misuse ActComputer

ReceivesRoyal Assent

ComputerMisuse Act

Tradingsuspendedfollowing

an SFO raid

Polly Peck

.www

World Wide Web, developed by Sir Tim Berners-Lee

at CERN, is opened to the general public

POLICE

Data BankingOther Politics, lawsand agencies

Managementscandals

Legend

0 + 00 ++ 0 ++

Sep 02

Many of the same banks were later �ned afurther £3.6 billion by U.S. law enforcement

1990

The Onion Routing(TOR) project

TOR is �rst released - ananonymising network

associated with the 'Dark Web'

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

© 2018 KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.The KPMG name and logo are registered trademarks or trademarks of KPMG International. Produced by Create | CRT080393

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