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The LIBOR Critical Benchmarks Bill, which ministers hope will ensure a smooth transition away from panel bank LIBOR at the end of the year, has received royal assent.
https://www.pinsentmasons.com/out-law/news/uk-passes-libor-transition-legislation
CRYPTOCURRENCY investors are being urged to watch out amid a recent rise in fraud attempts relating to crypto.
https://www.express.co.uk/finance/personalfinance/1541246/cryptocurrency-crypto-fraud-scam-cope-money-UK-2021
On 22 December 2021, the PRA issued a final notice to Metro Bank plc fining it £5,376,000 for breaches of the PRA's fundamental rules during the period from 13 May 2016 to 23 January 2019
https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/regulatory-action/final-notice-from-pra-to-metro-bank.pdf
Consumer complaints outfit Which? has accused banks of treating authorised fraud victims unfairly, with some firms getting decisions over scams and reimbursement wrong in nearly nine in 10 cases.
https://www.finextra.com/newsarticle/39197/three-in-four-app-fraud-cases-rejected-by-banks-overturned-by-financial-ombudsman
SCOTTISH banks have been named and shamed amongst those most often found to be treating transfer scam victims unfairly in what has been described as "reimbursement lottery".
https://www.heraldscotland.com/news/homenews/19708145.scots-banks-named-shamed-nine-ten-fail-scam-victims/?ref=twtrec
Some major banks are getting decisions about certain customer scams and reimbursement wrong in around eight in 10 cases seen by the ombudsman, according to Which?.
https://uk.sports.yahoo.com/news/banks-getting-fraud-reimbursement-decisions-000100392.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr&guccounter=1&guce_referrer=aHR0cHM6Ly90LmNvLw&guce_referrer_sig=AQAAAEeakPy27U1KFa8YGb4vG1NfJXXZl1Z5yvC06QV5UA6_DltFN4rtXcZR0kIGTsrJe2IiGIqnM83PVToZIaYZJEbFNfiCfkBQp_P-COwUOCM1Vddff4ZnCWqLZcUMLFJn7e3sYViddsdu7vKX9VQ917Icgyomv9bcFiq2zgdDIcZk
Google has offered the Financial Conduct Authority $3m (£2.19m) worth of ad credits to help fight online scams and pledged a further $2m (£1.46m) in credits to support industry scam awareness campaigns.
https://www.ftadviser.com/fca/2021/11/01/google-offers-fca-2m-advertising-credits-to-fight-scams/
A teenager from Lincolnshire who carried out a 'sophisticated cyber fraud' has had more than £2m of bitcoin and other crypto currency seized by police.
https://www.itv.com/news/calendar/2021-10-26/police-seize-2m-worth-of-bitcoin-from-lincolnshire-teenage-fraudster
The Crown Prosecution Service (CPS), City of London Police and the private sector have worked together, using specialist powers, to achieve the largest ever proceeds of crime forfeiture in the UK.
https://www.cps.gov.uk/cps/news/international-city-businesses-hand-over-eu34m-proceeds-crime-uks-largest-account
When he accidentally became a money mule, “Tom” was only fourteen. A friend transferred him 250£ and asked to withdraw them in cash. Days later “Tom”’s bank closed his account, and he hasn’t been able to open a new one anywhere since.
https://www.cityam.com/tik-tok-fraud-money-mulling/
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