A recently published Late Payments Report makes 11 recommendations that MPs believe could help small businesses to receive what they are owed more promptly from their big-business customers.
MP for Oldham East and Saddleworth Debbie Abrahams convened and chaired a cross-party parliamentary inquiry into the issue of prompt payment for small businesses, which heard evidence from several large FTSE companies, as well as affected SMEs.
Have you heard the one about the Croydon conman who paid for his shopping in Harrods with a £245,000 dud cheque?
It's no joke - 49-year-old Philip Buffett of Fairfield Road faces a jail term for fraud after paying with a cheque from a closed account for goods including a £183,000 Hublot watch.
Read more: Croydon Conman Who Fooled Harrods With a Dud Cheque
Ireland has announced the wording of its Code of Conduct on Prompt Payments, a voluntary charter similar to that in place in the UK.
Small business minister John Perry announced the Code on July 1st; it is supported by the Department of Jobs, Enterprise and Innovation.
A former West Yorkshire Police Detective Sergeant has been convicted of money laundering after standing accused of operating or being involved in the operation of fraudulent debt elimination companies and escort agencies.
DS Christopher Taylor ran Wakefield-based First Debt Recovery, established in 2008 and supposedly drawing on his experience with the CID and Fraud Squad.
However, it was later alleged that First Debt Recovery had been laundering money for several businesses operated by Anthony Muldoon, including five bogus debt elimination firms and a total of 28 escort agencies.
Read more: DS Chris Taylor: From Debt Recovery Rogue to Money Launderer
