Pannone launches corporate ‘fraud squad’

LAW firm Pannone has launched a new corporate fraud squad to help companies weed-out malpractice.

The Manchester firm, which has teamed up with forensic accountants and data recovery providers for the new service, says the launch is a response to rising levels of business crime.

With tough legislation looming in the form of the Bribery Act and regulators, such as the Financial Services Authority (FSA), aggressively firms suspected of wrongdoing, Pannone is expecting demand to be high.

The team, which includes partners from the firm’s employment, dispute resolution and regulatory unit will conduct discreet investigations into bribery and corruption, business fraud, insider dealing, money laundering and data theft and misuse.

Anthony Barnfather, head of regulatory at Pannone who is heading the new unit said: “Companies have a duty to investigate in circumstances that can be a legal minefield. With various stakeholders having separate interests, a business needs to steer carefully through issues such as data collection and gathering evidence.

 “As a specialist team we can guide them through the investigation process in the best possible way, quickly identify the extent of regulatory issues before they become the subject of formal proceedings and establish whether they need disclosing to the appropriate regulatory authority.

“It is a move that can mitigate financial and reputational damage as an internal investigation is a clear signal to regulators that a business takes its regulatory obligations seriously.”