Financial

OneSavings Bank (OSB) has set aside £20m to cover the costs of fraudulent activity carried out by one of its corporate customers.

OneSavings Bank sets aside £20m to cover fraud costs - CityAM : CityAM

Criminals who launder large sums are usually fairly sophisticated, often belonging to a criminal network. The first thing agencies need to be alert to is obvious signs that something ‘doesn’t feel right’.

Practical steps for effective AML | Professional | Property Week

A Nottinghamshire man in his 80s has lost more than £80,000 after investing in a Bitcoin scheme.

Nottinghamshire man loses £80,000 in Bitcoin scheme scam | West Bridgford Wire

The UK legal system is bracing for an uptick in scams related to cryptocurrencies, according to the head of the Crown Prosecution Service (CPS).

UK's legal system braces for barrage of cryptocurrency scams (yahoo.com)

The National Crime Agency (NCA) has concluded its pre-investigative evidential review into allegations of fraud concerning the then HBOS Impaired Assets Division, London and South-East Region.

NCA concludes pre-investigative review of allegations of fraud by HBOS Impaired Assets Division, London and South-East Region - National Crime Agency

Customers of some of the country’s largest banks are urged to be vigilant following reports of scam text messages purporting to be security alerts from their banks.

Banking Customers Warned About Rise in Text-Based Scams (moneyexpert.com)

A gambling business will pay a £6m fine and undergo extensive auditing after a Gambling Commission assessment revealed social responsibility and anti-money laundering failures.

Regulatory action against Casumo - Gambling Commission

Reports of investment fraud in the UK climbed 32% as criminals sought to capitalise on the coronavirus pandemic by tailoring scams to fit changing lifestyles.

Investment fraud reports jump 32% as criminals exploit COVID pandemic (yahoo.com)

One of Britain's top financial regulators has apologised for failing to catch one of the biggest investment collapses in the last decade — but defended her decision not to quit.

FCA's Megan Butler says sorry to LCF bondholders — but won't quit (yahoo.com)

The coronavirus pandemic has seen a surge in cyberfraud as the world has moved online, with the National Economic Crime Centre, under director general Graeme Biggar, fighting to stay one step ahead

COVID-19: giving criminals a cashflow crisis (raconteur.net)