These conclusions form a part of research carried out by insurance specialist and City law firm RPC. Joe Bryant, an RPC partner, said: 'On the face of it, this looks like a pretty shocking, sudden and unexpected rise. However, what we are actually seeing is something of a delayed reaction, as many of those who lost out as asset values, such as property prices, plummeted in the fallout from the credit crunch, make a last-ditch attempt at recovering their losses.'
Money laundering
Many of the claims relate to property transactions. Typical actions would be in relation to alleged negligence over money laundering transaction checks and other due diligence work which could have spotted fraud. Source: RPC
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