Financial

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)

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)