Financial

The contactless card payment limit will rise from £45 to £100 later this year as people are favouring contactless transactions to help curb the spread of the virus, as well as the convenience and speed.

https://www.finextra.com/blogposting/20352/touchless-payments--will-the-100-limit-change-anything

The Financial Conduct Authority (FCA) has commenced criminal proceedings against Ian James Hudson, following an investigation.

https://www.fca.org.uk/news/press-releases/fca-charges-ian-hudson-fraudulent-trading-regulated-activities

Consumers tempted to turn a quick profit by dipping their toe into the highly volatile crypto space are being warned to stay alert to a growing number of scams - often using SpaceX boss Elon Musk as bait to try and tempt unwitting investors.

https://uk.news.yahoo.com/elon-musk-impersonated-crypto-scammers-130637977.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

The Financial Conduct Authority (FCA) is “upping its game” against the “scourge” of online investment scams, aiming to spot suspicious advertisements the same day they’re posted.

https://www.moneyexpert.com/news/as-online-investment-scams-escalate-city-regulator-hits-back/

Two Belfast men are facing a "huge" number of charges in connection with an investigation into a suspected multi-million pound banking fraud, a court has been told.

https://www.irishnews.com/news/northernirelandnews/2021/05/06/news/two-belfast-men-facing-charges-in-connection-with-a-suspected-multi-million-pound-banking-fraud-2312170/

Financial Services Compensation Scheme chairman Marshall Bailey has said the rising levy does not mean progress has not been made to address this issue.

https://www.ftadviser.com/your-industry/2021/05/06/rising-levy-does-not-reflect-progress-made-says-fscs-chair/

Two men have been convicted of fraudulent trading following successful investigations by the City of London Police and Hampshire Police, with the support of the Crown Prosecution Service.

https://colp.mpw.cds.co.uk/news/city-of-london/news/2021/may/investment-fraudsters-found-guilty-of-2m-scam-after-eight-year-long-investigation/

The UK Financial Conduct Authority (FCA) has confirmed which forms consumer credit firms must use for disclosing precontractual information as post-Brexit transitional arrangements come to an end.

https://www.pinsentmasons.com/out-law/news/fca-confirms-post-brexit-disclosure-requirements-for-consumer-credit-firms

Banks tell 77% of fraud victims that they’re partly or fully responsible for their losses, making them ineligible for reimbursement, new figures from the Lending Standards Board (LSB) reveal.

https://www.moneyexpert.com/news/banks-routinely-denying-refunds-to-victims-of-fraud/

Challenges arising from the pandemic have left gaping holes in banking security, putting consumers at risk of fraud

Covid-19 security challenges leave bank customers at risk (computerweekly.com)