Financial

James Bufton, 26, stole more than £250,000 from eight victims - including a dying man, close friends and his own family - and spent it on his gambling addiction, hotel stays and helicopter flights to the Cheltenham races.

UK regulators have joined others around the globe to level heavy penalties at subsidiaries of Goldman Sachs for its role in a fraud scheme which looted billions of dollars from a Malaysian sovereign wealth fund and used the money to fund Hollywood movies, including the Wolf Of Wall Street.

UBS' domestic activities undercut a powerhouse result elsewhere: Swiss pre-tax profit tumbled to 305 million Swiss francs ($334 million) from 353 million francs year-ago, the Swiss bank said in its quarterly results on Tuesday.

The increasing threat of money laundering and financial fraud from organised crime gangs taking advantage of coronavirus has led to record demand for SmartSearch.

Lloyds Banking Group has agreed to widen a compensation review for victims of the HBOS Reading fraud after pressure from customers and MPs. Business owners who were customers of HBOS are continuing their battle for compensation for the fraud which resulted in six people being jailed, including managers Lynden Scourfield and Mark Dobson. A panel chaired by Sir David Foskett, a former High Court judge, was formed after an independent review concluded that aspects of the bank’s original compensation scheme for the fraud in which bankers deliberately wrecked customers’ businesses were “neither fair nor reasonable” . […] Sir David confirmed that after discussions with MPs, campaigners and the panel itself, Lloyds had agreed that the panel “will no longer have to focus solely on the influence or involvement” of QCS or its associates when considering whether a customer was a victim. […] David McIlroy, a barrister representing some of the victims of the fraud, welcomed the change but criticised the bank for dragging its feet on the issue.

A stockbroker who funded a jet-set lifestyle by stealing his clients' money has been jailed for six years.

The Financial Conduct Authority (FCA) has recognised that the consumer investment market is not operating in a way that provides the best advice to consumers who are often offered unsuitable products.

The NCA has revealed six men were arrested in the UK as part of an international investigation into a money laundering network which handled transactions for some of the world’s most prolific cyber criminal groups

The Financial Conduct Authority is set to ramp up the industry's fight against scams and fraud amid the coronavirus outbreak, making this a key theme of its latest regulatory sandboxes.

Launching ahead of National Poetry Day on 1 October, ‘Santander’s Scam Sonnets’ aim to raise awareness of investment fraud - which is when a fraudster offers a fake but convincing opportunity to make a profit by handing over a sum of money.