Financial

An industry code to better protect victims of authorised push payment (APP) scams will be put into place in interim form by September, the Payment Systems Regulator (PSR) has announced.

https://www.out-law.com/en/articles/2018/march/push-payment-scam-victims-to-be-reimbursed-regulator-announces/

Norwich-based financial advisers Taylor and Taylor Associates have been convicted of orchestrating a £17.5m fraud which conned more than 200 elderly and vulnerable clients.

https://www.professionaladviser.com/professional-adviser/news/3027920/adviser-brothers-admit-gbp175m-investment-fraud

Fraudsters use new technology to perpetrate old schemes

http://www.fraud-magazine.com/article.aspx?id=4295000887

Police in Iceland have arrested 11 people suspected of stealing more than 600 computers that were being used to mine crypto-currencies

http://www.bbc.co.uk/news/technology-43288495

According to a new survey tech-hungry young people are increasingly the targets of cyber scams.

https://www.forbes.com/sites/johnwasik/2018/03/05/why-millennials-are-at-high-risk-for-bitcoin-ico-fraud/#5687a9be85ea

This year marks a decade since Jerome Kerviel was taken into custody accused of perpetrating the biggest financial fraud case in history.

http://www.cityam.com/281793/decade-banks-still-havent-learnt-kerviel-fraud-case

New data, compiled from the National Fraud Database by Cifas, suggests in the past year there has there has been a "sharp rise" the number of 18 to 24 year olds being tricked into using their bank accounts to transfer the proceeds of crime.

https://www.telegraph.co.uk/news/2018/03/07/whatsapp-fraudsters-turning-naive-young-people-money-mules/

U.S investors on five-year £400m fraud probe that went nowhere

https://www.sundaypost.com/fp/we-are-people-who-have-lost-a-large-amount-of-money-we-are-not-happy-with-the-scottish-legal-systemu-s-investors-on-five-year-400m-fraud-probe-that-went-nowhere/

The Financial Conduct Authority (FCA) will consult on the future of the public register of financial services firms and individuals later this year, it has confirmed

https://www.out-law.com/en/articles/2018/february/fca-to-consult-on-future-of-financial-services-register/

People tricked into authorising payments to fraudsters will be able to claim compensation more easily from their banks under a new industry code, a British financial PSR watchdog said

https://uk.reuters.com/article/uk-britain-banks-fraud/britain-makes-compensation-easier-for-bank-payments-fraud-idUKKCN1GC2B2