Financial

Blameless scam victims who are tricked into transferring money directly to a fraudster should find they are better protected under a new voluntary industry code which comes into force from Tuesday.

https://uk.finance.yahoo.com/news/fightback-against-bank-transfer-scams-014500007.html?soc_src=social-sh&soc_trk=tw

The industry should focus on fraud prevention not just the "reimbursement" of its victims, the Financial Conduct Authority's supervision head has said

The Bestmixer cryptocurrency laundering service has been shut down by Dutch anti-fraud police with support from Europol after a tip off by cyber security researchers at McAfee, significantly disrupting cyber criminal money flows

https://www.computerweekly.com/news/252463873/Police-shut-down-Bestmixer-bitcoin-laundering-service

Richard Kovalevsky QC on the difficulties facing prosecutors of financial crime

Online investment scams more than tripled last year

The Financial Conduct Authority (FCA) in partnership with City of London Police (Action Fraud) are highlighting the trend of online trading scams being advertised on social media.

Losses as a result of "get rich quick" crypto-asset and forex scams exceeded £27m during the 2018/19 financial year, with the number of investors reporting fraud tripling on the previous year's figures.

https://www.professionaladviser.com/professional-adviser/news/3076084/investors-lose-gbp27m-to-get-rich-quick-crypto-and-forex-scams-in-2018-19

Criminals use both old-fashioned and new-technology tactics to swindle their marks.

The former Deal Or No Deal presenter wanted to challenge the board over an internal report about its handling of fraud at one of its branches during its AGM in Edinburgh on Thursday.

http://www.ardrossanherald.com/news/national/17645749.lloyds-bank-chairman-dismisses-allegations-of-criminality-made-by-noel-edmonds/?ref=twtrec

A whistleblower has heavily criticised the head of the Financial Conduct Authority for failing to investigate her complaints against Lloyds Banking Group, despite his assurances about the seriousness of the case.

https://www.ft.com/content/0cfe7934-77e9-11e9-be7d-6d846537acab