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In an attempt to reduce the risk of fraud for consumers, new European regulations are being implemented that are intended to improve payment security online. This will include security checks by banks and retailers for online shopping and logging into accounts.
https://consumerandsociety.com/2019/09/16/what-are-the-new-fraud-prevention-regulations-for-online-retailers-and-banks/#.XYUu2dycUb8.twitter
UK Finance and CIFAS launch Don’t Be Fooled campaign to stop young people being lured into becoming “money mules”.
https://www.yourmoney.com/saving-banking/is-your-child-a-money-mule/
The number of under-21s being recruited by criminals to launder money has nearly doubled in the past two years according to new figures from Barclays, with university students being actively targeted by criminals as they start the new academic year.
https://www.actionfraud.police.uk/news/barclays-issues-warning-to-university-students-as-number-of-under-21s-recruited-as-money-mules-nearly-doubles
The Only Way Is Essex star Lewis Bloor has denied dishonestly marketing diamonds in a £3m scam.
Bitcoin might not be dead yet, not with its price currently standing at around $10,300. But that doesn’t mean the mania won’t end badly some time in the future, like tulip bulbs and South Sea stock.
https://uk.finance.yahoo.com/news/bitcoin-good-investment-bitcoin-dead-102512706.html?soc_src=social-sh&soc_trk=tw&guccounter=1&guce_referrer=aHR0cHM6Ly90LmNvL1JKQXRkNXRlZTY_YW1wPTE&guce_referrer_sig=AQAAAEJNd7kYZlEgKXN0WWTTEtSf8i4ErEB7QBlZCSllSBi7VibDv3UuKoyVXjYQI92T7SPqG9gPFE_EOFFuhAoSPVN_zv4iXWmgscKyVwPb4cnOebqCsOxqtu2uR5QrBK9QITKUhYTj1uMXcgrLo_DBpy8Bz3NHRfjt0QaOG55gmZDv
The Financial Conduct Authority’s (FCA) decision to allow a phased 18-month implementation of Strong Customer Authentication (SCA) for the UK may bring a sense of relief for those not yet prepared for the original 14 September 2019 enforcement date. But in terms of fraud, it might just make a problematic situation worse.
https://tamebay.com/2019/09/get-ready-cross-border-chaos-thanks-psd2.html
The Financial Conduct Authority has hit back at accusations from a police chief that it is allegedly sitting on evidence of UK banks forging signatures on what he called an ‘industrial scale’.
https://www.ftadviser.com/mortgages/2019/09/09/fca-criticised-for-inaction-on-signature-fraud/
Santander warning about social media posts that could lure young people into becoming money mules.
The average prison sentence for money-laundering has increased by 8% in the last year, according to new research. The research by Thomson Reuters revealed that average jail time increased to 27 months in 2018, up from 25 months in 2017.
https://www.finance-disputes.co.uk/2019/09/money-laundering-prison-sentences-reach-record-high/
Britain is facing a fraud “epidemic” that “destroys” lives, the chair of the UK’s top financial watchdog has warned.
https://uk.finance.yahoo.com/news/fca-scams-fraud-epidemic-mini-bonds-charles-randell-145640223.html?soc_src=social-sh&soc_trk=tw&guccounter=1&guce_referrer=aHR0cHM6Ly90LmNvL1NHR2tNZFdla1g_YW1wPTE&guce_referrer_sig=AQAAAG20U2pQRLDie5W2ePcJVIcYd3bM3FBjpRH3O5wVBhDboMTC3tkC_F9tp3d_LWYwkpQntgqhsh0NQWloU5NrceM--VuX4zbuxRlEFFN8jN-9uow5LNGgzpNeKpwidoHRXeMz9_xW4hvYPj-KGzGw1fCUL1x28PNmbvFZi3u4Eliy
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