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NatWest bank has admitted failing to comply with anti-money laundering laws over “large cash deposits” into a sole customer’s accounts.
The UK Treasury has confirmed it is planning to impose a levy on firms subject to anti-money laundering (AML) regulations to fund the UK’s fight against economic crime.
The International Monetary Fund (IMF) has called for tighter regulation to prevent the rapid expansion of cryptocurrencies from causing financial instability, consumer fraud, and terrorism funding.
The Serious Fraud Office (SFO) is investigating the Alpha and Green Park group of companies for suspected fraud in relation to the companies’ student accommodation and holiday park developments.
The clearance of payments considered to be risky should be slowed down to tackle the "epidemic" of fraud, says Nationwide's economic crime director.
s cryptocurrency has grown in popularity, crypto-related crimes have also been on the rise as Crypto Head showcased in its Crypto Crimes report earlier this year, which found that in 2020 there were 8,801 crypto crime reports to the UK action fraud team.
The UK’s financial regulator wants to give consumers the confidence to invest without worrying about being scammed or being pushed into putting their money in products that could be too risky for them.
The Financial Conduct Authority’s chief executive has pledged a tougher crackdown on fraud outside of its remit which involved regulated financial services firms, but warned this would come at a cost.
Fraud in the industry has increased notably since the pandemic began so lenders must be increasingly vigilant, writes John Dobson.
A crime-fighting scheme has stopped fraud worth more than £250,000 in the first half of this year in Cumbria.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014