Financial

Financier admitted obtaining money transfer by deception and fraud by abuse of position

https://www.thejc.com/news/uk-news/freddy-david-jailed-six-years-guilty-fraud-1.467783

The Consultation Paper proposes to extend the application of the Principles for Businesses and certain specific rules about promotions and communications so they cover wider categories of businesses the FCA regulate (including businesses authorised or registered under the Payment Services Regulations or the Electronic Money Regulations).

https://www.fca.org.uk/news/press-releases/fca-consults-rules-and-guidance-improve-conduct-and-communications-payment-services-and-e-money

The Financial Conduct Authority (FCA) will have spent around £4m by the end of this financial year to ensure it is compliant with the General Data Protection Regulation (GDPR)

https://www.insuranceage.co.uk/regulation/3526021/fcas-gdpr-bill-to-hit-almost-ps4m

The Financial Conduct Authority said its powers were "very limited".

https://www.bbc.co.uk/news/business-45018743

A group of MPs has written to Lloyds Banking Group accusing it of treating victims of a fraud carried out by members of its Reading branch “with contempt”.

http://www.cityam.com/289984/mps-accuse-lloyds-treating-hbos-reading-fraud-victims

Digital banking startup Revolut is hailing its recent introduction of disposable virtual cards for online purchases, claiming a 30% reduction in card fraud cases.

https://www.finextra.com/newsarticle/32447/revolut-slashes-fraud-with-disposable-virtual-cards

The Serious Fraud Office has applied to the high court to revive its case against Barclays Bank regarding a £12bn bailout secured from the state of Qatar at the height of the financial crisis in 2008.

https://www.theguardian.com/business/2018/jul/24/sfo-applies-to-reinstate-charges-against-barclays-bank-over-qatar-loan

The UK Serious Fraud Office is seeking a retrial of three former Barclays traders accused of plotting to rig global interest rates after a jury was unable to reach a verdict

https://uk.reuters.com/article/uk-britain-euribor-sentencing-retrial/british-fraud-office-seeks-retrial-of-ex-barclays-trio-idUKKBN1K914W

CipherTrace have released the first of what will be quarterly reports on the state of cryptocurrency AML (Anti-money Laundering) regulation.

https://bravenewcoin.com/news/report-says-cyber-crime-driving-demand-for-crypto-laundering/

The results of a recent YouGov survey, on behalf of Ondot, revealed today that online security and fraud prevention comes top in what Brits think banks should guarantee, with 60% wanting ‘peace of mind’ when using cards online

https://www.realwire.com/releases/YouGov-poll-UK-adults-seeking-digital-payment-experiences-from-banks