The UK Financial Services Authority recently made an example of a company that failed to pre-empt in-house fraudsters. There is a definite sense the regulator is relieved it has a case, pour encourager les autres.

Whether the FSA is acting fairly in making examples and whether those who have been the victims of fraud are more or less negligent than those who have not is beside the point. The FSA's message is clear: make sure you can demonstrate you have taken the necessary precautions.