Financial

From 3 January 2018, binary options became a regulated investment product, meaning that all firms trading in binary options need to be authorised by the FCA

https://www.fca.org.uk/consumers/binary-options/unauthorised-firms

The crypto currency markets seem to be going through their first real test of faith this week as the price of Bitcoin started to falter amid fears of Bitcoin fraud and a move by regulators globally to begin to contain the crypto currency markets.

https://www.thearmchairtrader.com/news/bitcoin-fraud-fears-gather-steam-price-falls

With widespread reports linking cryptocurrencies to money laundering, terrorism financing and other illicit cash ventures, the national intelligence unit is keen to stay abreast of developments and ensure that other government departments do so too.

https://kyc360.com/news/uk-national-spy-agency-investigates-bitcoin-risk-issues-rise/

He has handed himself in over a boiler room fraud totalling six figures

http://www.essexlive.news/news/husband-southend-mum-found-floating-1075431

Customers who sign up to 'open banking' revolution where they share details in the hope of better deals 'could be put at risk from fraudsters'

http://www.dailymail.co.uk/news/article-5264713/Fraud-risk-open-banking.html

EU directive will force lenders to allow third parties access to customer accounts

https://www.ft.com/content/e026eb2e-f6c7-11e7-8715-e94187b3017e

A Nigerian businessman was sentenced to three years and six months imprisonment for money laundering in the United Kingdom. He was also disqualified from being a company director for six years.

https://www.pmnewsnigeria.com/2018/01/17/nigerian-oil-tycoon-wagbatsoma-jailed-uk-money-laundering/

Money muling is a form of money laundering in which fraudsters con victims into allowing them to use their bank accounts to move cash around - with victims generally agreeing to it on the promise that they get to keep some of the money.

http://www.ladbible.com/technology/technology-money-muling-the-latest-scam-sweeping-university-students-20180116

Following the news of Airbnb’s initial public offering (IPO) fraudsters claiming to be from Swiss Bank UBS are trying to trick victims into investing in Airbnb stocks and shares.

https://www.actionfraud.police.uk/news/ubs-fraudsters-offering-fake-shares-in-airbnb-jan18

Compliance experts warn that regulator still has appetite for issuing fines.

https://www.insuranceage.co.uk/regulation/3217941/fca-fines-totalled-ps2295m-in-2017