Financial analysis

Civil Fraud and Asset Recovery

The Fraud team at Michelmores has extensive experience, both effectively progressing and navigating the risks of both criminal and civil fraud allegations and the tracing and recovery of assets. Our team has particular expertise in using the courts to obtain urgent injunctive relief, asset tracing insurance coverage advice and collaboration with the police where necessary.

The identification of fraud in the UK is increasing, with the value of reported fraud in the UK totalling £1.1bn in 2016, an increase of over 55% from 2015. The financial services sector has seen an even larger increase of 138%.

From our experience, there is no such thing as a typical fraudster and fraudsters do not discriminate – anyone can be a potential target.

Fraud can both impact financially and damage a business's reputation if not dealt with appropriately. This can have a knock on effect on a business's customer base, market fluctuations, shareholder and financiers' confidence and lead to increased regulatory scrutiny.

We are ideally placed to advise on both the civil and criminal sides of fraud due to the make‑up of the team which includes a QC with extensive experience in this area and was previously a member of the 'A' list of counsel for the Serious Fraud Office.

How we can help

When a serious fraud is suspected or identified, the Fraud team at Michelmores act swiftly to counter and minimise the negative impacts of the fraud and to prevent further potential threats from materialising.  

The action taken can include organising internal investigations, obtaining and responding to freezing injunctions, obtaining disclosure orders and advising on FCA and police investigations.   

The team can also provide a range of training to clients including seminars that cover subjects such as preventing and identifying fraud and CMA investigations.

Related Areas

Recent experience

  • Securing an asset freezing injunction (with a value of over £23 million) against an individual in a high profile, reported case on behalf of a UK government agency.
  • Settling a £1 million case brought against a senior employee accused of fraud by an international fast food chain.
  • Acting for a national company against an employee who had engaged in a complex fraud spanning many years to secure an asset freezing injunction and various disclosure orders against the individual's bank accounts.
  • Acting for an individual accused of fraud by a Saudi Arabia company relating to the purchase of equipment for oil rigs and associated commissions.
  • Successfully defending a corporate policyholder against allegations of fraud made by its insurer following a fire at its business premises.
  • Advising a corporate policyholder in the financial services sector in relation to insurance coverage for losses sustained as a result of fraud.
  • Successfully defending a corporate policyholder against allegations of fraud made by its insurer following a fire at its business premises
  • Advising a corporate policyholder in the financial services sector in relation to insurance coverage for losses sustained as a result of fraud.