Financial

Lloyds Banking Group has agreed to make a series of payments totalling around £7m to victims of the HBOS Reading fraud.

https://www.sharecast.com/news/news-and-announcements/lloyds-to-payout-additional-pound7m-over-hbos-fraud--7187530.html

He will take over the position from Mark Carney on 16 March 2020.

https://www.insuranceage.co.uk/people/4356556/fca-head-andrew-bailey-named-as-bank-of-england-governor

Three men were charged with helping run a $722 million cryptocurrency fraud that amounted to a “high-tech Ponzi scheme,” U.S. Attorney Craig Carpenito in New Jersey said in a statement.

https://fortune.com/2019/12/10/cryptocurrency-fraud-bitclub-network-ponzi-schemes/

Every year millions of individuals across the world fall victim to investment fraud, with many of the fraudsters particularly targeting novice investors. The types of fraud vary and some are easier to spot than others.

http://www.mondaq.com/uk/x/876130/White+Collar+Crime+Fraud/Forex+Fraud+Is+Still+One+Of+The+Leading+White+Collar+Crimes+Millions+Are+Lost+Every+Year+To+Fraudulent+Brokers

The Co-operative Bank has signed up to a voluntary scheme to help fraud customers get their money back.

https://www.yourmoney.com/saving-banking/co-op-commits-to-refund-scam-customers/

From 10 January 2020, we will be the anti-money laundering and counter terrorist financing (AML/CTF) supervisor of UK cryptoasset businesses under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as amended (MLRs).

https://www.fca.org.uk/firms/financial-crime/cryptoassets-aml-ctf-regime

Regulator says fraudsters are using details of authorised firm MEM Insurance Brokers to target people in the UK.

Regulator is looking to extend the principles of open banking to other sectors including general insurance.

Born in the city of Yame in 1972, Takafumi Horie studied at the University of Tokyo before dropping out to found Livin’ on the Edge (renamed Livedoor in 2004), a web-services start-up that went public in 2000. Its rapidly-growing profits and soaring share price allowed it to go on series of acquisitions. Horie’s talent for self-promotion and his willingness to engage in hostile takeovers won him an equal number of admirers and detractors. At its peak Livedoor employed 1,000 people and had a market capitalisation of $7bn.

https://moneyweek.com/519277/great-frauds-in-historytakafumi-horie-and-livedoor/#.XfJY_Pn1MKM.twitter

LONDON (Reuters) - Lloyds Banking Group (LLOY.L) has been heavily criticized for mishandling a compensation scheme for victims of one of Britain’s biggest banking scandals in a report published on Tuesday.

https://uk.reuters.com/article/us-britain-lloyds-fraud/britains-lloyds-criticized-for-mistreating-victims-of-major-fraud-idUKKBN1YE1F2