Financial

Last year was an extraordinary year for e-commerce, with UK online sales an astonishing 50% higher in August compared with February, according to ONS statistics*. However, the boom for online commerce was not without its challenges as merchants sought to manage greater supply chain pressures and the need to upscale deliveries.

Syedur Rahman of Rahman Ravelli particulars a latest judgement that might be of giant significance in crypto-related fraud and asset restoration circumstances.

2 February 2021: Michelle Giddings, head of AML and operations and chair of the 2021 AML Supervisors Forum, outlines the measures ICAEW has taken to tackle anti-money laundering compliance during lockdown.

The Financial Conduct Authority (FCA) is issuing a warning to the public as reports of ‘clone firm’ investment scams increased by 29% in April 2020 compared to March, when the UK went into its first lockdown.

New warning from Action Fraud, the City of London Police and the Financial Conduct Authority (FCA).

The pandemic has caused a major upheaval in the financial services industry, with lockdowns and social distancing causing everyone to move online. With this shift to digital has come an increase in the potential of cyberattacks, leaving many thinking that the financial industry needs to raise awareness of the importance of data privacy.

A group of MPs and peers has called on UK banks to follow the example of Australia’s largest banks and adopt ‘model litigant principles’, which aim to level the playing field in disputes with customers.

Advances in technology and innovation in payments, as well as changing consumer needs and expectations, have spurred new UK proposals to extend existing regulation of cryptoassets.

Investment fraud in the UK is on the rise, according to recent statistics, prompting investors to consider the possible actions they can take in a bid to recover lost funds.

Action Fraud has joined with City of London Police and the Financial Conduct Authority (FCA) to warn investors about ‘clone firms’ after fraudsters made away with more than £78m using the scam in 2020.