Financial

The regulator examined several areas of potential harm in its annual review of the general insurance sector.

https://www.insuranceage.co.uk/regulation/4445321/fca-sounds-alarm-over-brexit-misconduct-and-data-usage

Bitcoin is 'property' and can therefore be subject of proprietary injunction.

https://www.internationallawoffice.com/Account/Login.aspx?ReturnUrl=https%3A%2F%2Fwww.internationallawoffice.com%2FNewsletters%2FLitigation%2FUnited-Kingdom%2FRPC%2FBitcoin-is-property-and-can-therefore-be-subject-of-proprietary-injunction

A day of action by National Economic Crime Centre partners will target money service businesses (MSB) at risk of being used by criminals to launder money.

https://nationalcrimeagency.gov.uk/news/multi-agency-action-targets-city-money-laundering

A British banker who was extradited to the US for fraud said the extradition treaty between the two countries is a “pernicious law” that is “designed for one outcome — incarceration”.

https://www.cityam.com/natwest-three-banker-slams-pernicious-us-uk-extradition-treaty/

Victims lost £339m to investment scams last year amid warnings the City of London's cybercrime team are witnessing a "sharp rise" in cryptocurrency fraud.

https://www.ftadviser.com/regulation/2020/02/05/victims-lost-339m-to-investment-fraud-last-year/

Asset management firms must balance operational convenience with the potential risks of using a single provider for portfolio management services, the Financial Conduct Authority (FCA) has said.

https://www.pinsentmasons.com/out-law/news/fca-gaps-portfolio-management-processes

Guernsey's top police officer, Ruari Hardy, has apologised after it took almost two years to investigate, what turned out to be, false allegations against a manager at the island's financial regulator.

https://www.itv.com/news/channel/2020-01-31/police-apology-after-two-year-investigation-against-guernsey-s-financial-regulator/

A couple has lost £95,000 of life savings after sending it to ­copycat fraudsters cloning a top investment company.

Banks are not reimbursing customers who have been scammed because they have been “careless”, despite some signing a voluntary code intended to protect fraud victims, it is alleged.

https://www.cityam.com/banks-are-using-fraud-warnings-to-avoid-reimbursing-fraud-victims-says-which/

One of the South Korean cryptocurrency exchanges, Korbit, recently updated its Terms of Service. The new changes will allow the company to protect crypto fraud victims by seizing assets.

https://invezz.com/news/cryptocurrency/crypto-exchange-korbit-adds-new-measures-for-protecting-fraud-victims/