Financial

The Serious Fraud Office, working in conjunction with the Financial Conduct Authority, is investigating individuals associated with London Capital & Finance Plc. 

https://www.sfo.gov.uk/cases/london-capital-finance-plc/

The UK Financial Conduct Authority has agreed to offer the payments and e-commerce industry extra time to implement Strong Customer Authentication.

(Reuters) - The UK’s financial regulator, the Financial Conduct Authority (FCA), has launched an investigation into alleged fraud at five-a-side football pitch operator Goals Soccer Centres Plc (GOAL.L), the Sunday Times newspaper reported.

https://uk.reuters.com/article/us-goals-soccer-ctr-accounts-fca/watchdog-launches-probe-into-alleged-fraud-at-uks-goals-soccer-sunday-times-idUKKCN1V1003

Three senior former Barclays executives are set to face a criminal trial in October on charges relating to their involvement in Qatar’s participation in an emergency fundraising at the height of the financial crisis.

https://www.cityam.com/trio-of-ex-barclays-execs-facing-october-trial-over-qatar-financial-crisis-fundraisings/

ALMOST £8 million worth of fraudulent transactions were stopped in Scotland last year by a new rapid response scheme.

https://www.thenational.scot/business/17825201.anti-fraud-scheme-stops-8m-worth-scams-scots/?ref=twtrec

SEVERAL banks and building societies are yet to sign up to a new code designed to protect people from payment scams, Which? has revealed.

A week ago we published the appalling story of an eBay seller who had his account hacked and the email address changed on his best selling listings. Due to his high turnover and the low value of each individual order, 10s of thousands were syphoned from payments from the hacked eBay account before he noticed.

https://tamebay.com/2019/08/changed-paypal-email-address-on-hacked-ebay-account-a-multi-million-fraud.html

In its official release, the FCA said: “Consumers should be cautious when investing in such cryptoassets and should ensure they understand and can bear the risks involved with assets that have no intrinsic value.”

https://www.accountancyage.com/2019/08/05/fca-clarifies-stance-of-cryptoassets/#.XUm7IFQZffU.twitter

The FCA is today publishing Final Guidance which sets out the cryptoasset activities it regulates. This is in response to the FCA’s consultation published earlier this year.

Design flaws discovered in Visa's payments system for contactless cards could allow criminals to steal hundreds in a single tap.