Financial

The campaign, 'In confidence, with confidence', encourages individuals working in financial services to report potential wrongdoing to the FCA, and reminds them of the confidentiality processes in place.

FCA launches campaign to encourage individuals to report wrongdoing | FCA

Millions of UK bank customers are missing out on a vital service designed to help prevent people being scammed by fraudsters.

Millions of UK bank customers miss out on security checks (msn.com)

One Savings Bank is investigating “potential fraudulent activity” to the tune of £28.6m involving a third party it provides funding lines to, forcing the group to delay publishing its preliminary results until April.

OSB investigates £28.6m third party fraud | Mortgage Introducer

News that the financial watchdog has started criminal proceedings against NatWest over allegedly failing to comply with money laundering rules ‘highlights that no business or bank is too big to fall victim to fraud’, according to laundering experts SmartSearch.

Criminal proceedings against NatWest shows no business ‘is too big to fall victim to fraud’ – Property Industry Eye

Regulator launches criminal proceedings after gold dealer Fowler Oldfield deposited £365m with bank

FCA brings money laundering charges against NatWest | Financial Times (ft.com)

Money mule recruiters are targeting those looking for work or to earn easy money during the pandemic, by posting fake adverts on jobs websites and social media.

Money mule recruiters use fake online job adverts to target ‘Generation Covid’ | Action Fraud

Criminals are targeting young people with fake job adverts online in a bid to recruit money mules, UK Finance and fraud prevention service Cifas have warned.

https://www.ftadviser.com/investments/2021/03/10/warning-sounded-on-recruitment-ads-for-money-mules/

Conservative MP Peter Gibson is calling for an independent report into the Blackmore Bond scandal to investigate exactly what went wrong while criticising the regulator as not being “fit for purpose”.

https://www.ftadviser.com/regulation/2021/03/08/appg-chair-calls-for-inquiry-into-blackmore-bond-scandal/

Police and staff working in bank, building society and post office branches stopped almost £900,000 of fraud in West Mercia through the Banking Protocol in 2020.

https://www.shropshirestar.com/news/local-hubs/2021/03/10/almost-900000-of-fraud-prevented-in-west-mercia/

Despite the Covid-19 pandemic, 2020 was an incredible year for crypto assets. Largely driven by the increased demand from institutional investors, Bitcoin shattered its previous price records. However, its pseudonymous nature and the ease with which it allows users to instantly send funds anywhere in the world makes crypto assets appealing to criminals.

https://www.kingsleynapley.co.uk/insights/blogs/crypto-assets-blog/current-trends-in-fraud-crypto-scams