ICC FraudNet, a division of ICC Commercial Crime Services, has launched its much-anticipated 2025 Global Annual Report on Fraud and Asset Recovery, now in its Fifth Edition.
The Global Annual Report carries the theme ‘The State of Fraud and Asset Recovery: Timeless Crimes, Modern Approaches’ and builds on the previous four reports, expanding ICC FraudNet’s growing body of thought-leadership, practitioner and scholarly insights.
Founded in 2004 under the auspices of ICC Commercial Crime Services, ICC FraudNet is a worldwide network of leading lawyers who specialise in fraud cases, international asset tracing and recovery, and has a total of 125 members along with 8 strategic partners across 81 countries.
According to Nicola Stenhouse Executive Secretary of ICC FraudNet, this year’s Global Annual Report is structured around six key themes, namely,
I. Perspectives on AI
II. Enforcement and Regulation
III. Asset Recovery Investigations: Criminal, Civil, and Technological Perspectives
IV. Cybercrime
V. Tackling Fraud, Corruption, and Money Laundering
VI. Practical Perspectives
“Each part offers not only thoughtful analysis but also practical tools and strategies to navigate today’s complex landscape,” she said.
A major topic addressed in this year’s Global Annual Report is the development of technology and its impact on fraud. This section of the Report looks at technology’s positive uses and negative risk-factors in terms of fraud and investigations, and examines warnings for future development, regulation and use.
Trends in investigations such as Large Language Models and the impact of AI and AI-decision making in litigation and investigations are explored, said Dr Dominic Thomas-James, Editor of the Report.
“Tales of caution about AI’s ability as a manipulator, as well as encouragement as to its helpful role in investigations, as well as its competence, or otherwise are all considered in the Global Annual Report,” he said.
The Global Annual Report contains 23 original papers authored by 37 authors and the themes and subjects with original insights coming from leading lawyers and investigators in the United Kingdom, United States, Spain, Hungary, Ghana, Poland, Panama, Cayman Islands, New Zealand, Guernsey, Japan, the British Virgin Islands, China, Singapore and South Africa.
“Ultimately, the papers draw upon collective and individual experiences, best practices and case studies seen at the cutting edge of the field. It is hoped that the compendium of papers offer real-world solutions and expert insights to tackle fraud and acquisitive misconduct, while offering support and practicality in terms of the challenges of international asset recovery efforts across different jurisdictions in responding to fraud,” said Dr Thomas-James.
To download the Global Annual Report, go here.
