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A major residential developer has warned investors to stay away from a promised investment opportunity in the company which is a fraud.
PIMFA, the trade association for the wealth management and financial advice industry, is disappointed but not surprised by the latest data from Action Fraud showing the average fraud suffered by victims amounted to £45,000. Without change to hold online platforms to account this is only likely to get worse.
Bank boss calls for cross-industry cooperation to reduce scams that trick people into making instant payments online
High street banks are scrambling to claw back emergency coronavirus loans linked to suspected fraud.
https://www.cityam.com/banks-claw-back-fraudulent-bounce-back-loans/
Fraud is an age-old problem that has plagued every industry since businesses began trading. It takes many forms and guises and is a constantly evolving threat, as the perpetrators adapt to the ever-changing business environment they seek to disrupt. Perhaps one of the most well-known examples of fraud is money laundering.
On 7 January 2021, HM Treasury opened a consultation on the regulation of cryptoassets and stablecoins.
Online investment fraud has seen a rapid acceleration since the onset of the coronavirus pandemic, and much of society’s most vulnerable people are bearing the brunt.
https://www.finextra.com/the-long-read/97/are-search-engines-the-shop-window-for-online-investment-fraud
Philip Arnold and his cousin John Slack lured investors into their mining company by claiming to have discovered large deposit of diamonds. There were no diamonds.
The imposition of a record £23.8 million fine on a money service business highlights the growing scrutiny being placed on compliance with UK anti-money laundering rules, an expert has said.
2020 has been an unprecedented and testing year for many businesses, consumers, and governments alike. However, these tests have stimulated innovation and accelerated the pace of change, advancing digital transformation by at least five years in the space of six months. Many companies in the e-commerce space have been able to benefit, while others have adapted their business models to cater to consumer needs and remain agile to keep afloat.
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