Financial

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  • 01 Jun 2021 9:06 AM | Anonymous member (Administrator)

    Less than half of the losses of fraud victims who transfer cash to scammers’ bank accounts have been repaid under a voluntary code that banks are applying inconsistently, according to a consumer group.

    https://www.centralfifetimes.com/news/national-news/19334478.victims-bank-transfer-scams-get-46-money-back-says/?ref=twtrec

  • 01 Jun 2021 9:02 AM | Anonymous member (Administrator)

    The Financial Conduct Authority (“FCA”) has launched its first criminal prosecution for offences under the Money Laundering Regulations. It is also the first criminal prosecution against a bank for such offences. Previous FCA action has focussed on imposing fines for breaches and regulatory action over criminal prosecution. However, they have been heavily criticised previously for failing to prosecute breaches. Does this case signal a new regulatory approach?

    https://www.twobirds.com/en/news/articles/2021/global/natwest-to-face-the-first-criminal-prosecution-by-the-fca

  • 01 Jun 2021 8:58 AM | Anonymous member (Administrator)

    Investors are being urged to be vigilant after an investment bond scam has emerged, whereby the fraudsters are pretending to be from Aviva Investors in order to dupe savers.

    https://www.ftadviser.com/investments/2021/05/26/scammers-use-aviva-name-to-target-bond-investors/

  • 01 Jun 2021 8:52 AM | Anonymous member (Administrator)

    More than £63m has been lost nationally by victims of investment fraud via a social media platform, says Action Fraud

    https://www.computerweekly.com/news/252501404/Millions-of-pounds-lost-to-crypto-fraud-on-social-media

  • 01 Jun 2021 8:48 AM | Anonymous member (Administrator)

    Five men from Merseyside have been charged in a National Crime Agency investigation emerging from the take down of encrypted comms platform EncroChat.

    https://www.nationalcrimeagency.gov.uk/news/operation-venetic-five-charged-in-merseyside-money-laundering-investigation-linked-to-car-showroom

  • 01 Jun 2021 8:44 AM | Anonymous member (Administrator)

    Cryptocurrency scams and phishing attacks are getting out of hand. Malicious actors are masquerading as representatives of trusted cryptocurrency apps such as Atomic Wallet and Trust Wallet, and phishing for users' private keys and other personal information to steal cryptocurrency.

    https://www.laptopmag.com/uk/news/crypto-scams-are-running-amok-to-steal-your-coins-how-to-protect-yourself

  • 01 Jun 2021 8:39 AM | Anonymous member (Administrator)

    The Financial Conduct Authority (FCA) has delayed the implementation of changes to the Strong Customer Authentication Compliance (SCA) which aims to reduce the number of fraudulent online payments.

    https://www.drapersonline.com/news/deadline-for-fraud-prevention-regulation-delayed

  • 01 Jun 2021 8:38 AM | Anonymous member (Administrator)

    The contactless card payment limit will rise from £45 to £100 later this year as people are favouring contactless transactions to help curb the spread of the virus, as well as the convenience and speed.

    https://www.finextra.com/blogposting/20352/touchless-payments--will-the-100-limit-change-anything

  • 24 May 2021 9:37 AM | Anonymous member (Administrator)

    The Financial Conduct Authority (FCA) has commenced criminal proceedings against Ian James Hudson, following an investigation.

    https://www.fca.org.uk/news/press-releases/fca-charges-ian-hudson-fraudulent-trading-regulated-activities

  • 24 May 2021 9:34 AM | Anonymous member (Administrator)

    Consumers tempted to turn a quick profit by dipping their toe into the highly volatile crypto space are being warned to stay alert to a growing number of scams - often using SpaceX boss Elon Musk as bait to try and tempt unwitting investors.

    https://uk.news.yahoo.com/elon-musk-impersonated-crypto-scammers-130637977.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

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