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A student has complained about HSBC to the Financial Ombudsman Service after losing thousands of pounds in a contested fraud case.
https://www.ftadviser.com/regulation/2020/08/11/hsbc-in-fraud-dispute-with-student/
A Which? report has revealed that victims of bank transfer fraud are being treated unfairly or inconsistently when trying to get their money back.
https://www.yourmoney.com/saving-banking/fraud-victims-face-a-lottery-under-bank-scams-code/
ActionFraud – the UK’s national fraud and cybercrime reporting centre has issued a warning of an uptick in investment scams on Instagram which has fleeced users for hundreds of thousands of pounds.
http://www.deeside.com/big-increase-in-money-flipping-investment-scams-with-instagram-users-fleeced-out-of-thousands/
Financial advisory group Tavistock Investments has made provisions to cover possible claims from the clients of one of its former advisers, the firm revealed in its financial results.
Goldman Sachs has reached a 3.9 billion US dollar settlement with Malaysia over the 1MDB sovereign wealth fund that was used to launder money.
The recent much publicised twitter hack is another example why for the CIOs and CTOs of banks and PSPs, fraud and security are ever-present concerns in the back of their mind. Protecting both their own organisations and their merchants from the threat of cybercrime is a truly business-critical challenge – and one in which the stakes are always changing.
https://www.finextra.com/blogposting/19131/staying-in-control-of-digital-payments
The UK’s Financial Conduct Authority (FCA) has issued updated guidance to firms providing personal loans, credit cards and overdrafts on how they should support customers who are facing continued financial difficulties caused by the Covid-19 pandemic.
Since June 1, 2020, Action Fraud has seen an increase in reports from people falling victim to Ponzi-style schemes that were advertised to them as “investment” opportunities.
https://www.actionfraud.police.uk/alert/investment-fraud-alert-friends-family-unknowingly-recruiting-victims
The Chartered Institute for Securities & Investment (CISI) has initiated a joint partnership with the City of London Police which will allow its UK based members to support the national policing lead on fraud in the fight against economic and financial crime in the UK.
https://mondovisione.com/media-and-resources/news/cisi-city-of-london-police-scheme-inspires-members-to-volunteer-to-help-tackle-f/#.XxGgeWrWf0I.twitter
Two men have been arrested over an alleged scam to claim £500,000 through the government’s coronavirus “bounce bank” loan scheme.
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