Firms told watch out for Uncle Sam

Corporate risk experts warn against fraud

Firms facilitating unscrupulous activity should expect harsh international sanctions.

That's the message from a Douglas-based anti-fraud and corporate risk consultancy, after an Island company fell foul of the US Department of Treasury.

PacNet, which processes international money transfers, has been accused of assisting multi-million dollar mail fraud schemes in America - an allegation which boss Paul Davis vigorously denies.

But Dave Bell of Expol Ltd says as a general rule, companies must be aware of criminal activity, and fully accountable for their practices - especially in dealing with major international jurisdictions: