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One in four investment scam victims in the past year has been aged over 55, losing nearly £26,000 on average, according to a bank’s data.
Cryptocurrency investment has seen a resurgence during the many Covid-19 lockdowns, and with Elon Musk piling into Bitcoin, interest is unlikely to diminish any time soon. But, with the upswing, there has also been a corresponding spike in the volume of cryptocurrency related fraud.
Covid-19 has impacted virtually all aspects of our lives, including the way we bank. In the UK, six million adults (or 12% of the population) downloaded an online banking app for the first time during the pandemic. Research also shows that the types of banks we use are also changing: currently, around 14 million Brits have at least one bank account with a digital bank and this number could increase by almost 10 million over the next 5 years!
The UK regulator FCA announced it has obtained a court order allowing it to distribute £3.4 million to victims as compensation for series of unauthorised deposit-taking and collective investment schemes.
A free service to resolve disputes between small and medium enterprises (SMEs) and their banks has been launched in the UK.
Last year was an extraordinary year for e-commerce, with UK online sales an astonishing 50% higher in August compared with February, according to ONS statistics. However, the boom for online commerce was not without its challenges as merchants sought to manage greater supply chain pressures and the need to upscale deliveries.
The chief executive of Starling Bank, Anne Boden has accused social media platforms of supporting financial fraudsters.
We reveal why clone firm investment scams are becoming more common, how they work and how to stay safe, as well as reveal red flags highlighted by loveMONEY readers who have been scammed.
The governor of the Bank of England has said he takes full responsibility of failings on his watch that allowed one of the biggest investment scandals in recent British history.
Last year was an extraordinary year for e-commerce, with UK online sales an astonishing 50% higher in August compared with February, according to ONS statistics*. However, the boom for online commerce was not without its challenges as merchants sought to manage greater supply chain pressures and the need to upscale deliveries.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014