Financial

Former Premier League footballer Colin Hendry said he will be seeking compensation if an investigation into Kingsbridge Asset Management proves its staff conspired to defraud a large number of its high net worth clients.

https://portfolio-adviser.com/football-legend-says-asset-manager-fraud-bankrupted-him/

Life savings have been stolen from TSB accounts by fraudsters "exploiting" the bank's IT problems, with 1,300 people losing money.

https://www.bbc.co.uk/news/business-44385710

TSB chief executive Paul Pester has apologised “profusely” to customers who suffered fraud as a result of the IT problems that caused chaos for the bank as he appeared for a second time before MPs.

http://www.itv.com/news/2018-06-06/tsb-overwhelmed-by-fraud-reports-after-it-problems-says-chief-executive/

The suspected organised crime group has allegedly laundered millions of pounds through retail banks in the City of London.

http://news.cityoflondon.police.uk/r/1046/eight_people_arrested_as_part_of_a_suspected_mone

A young man from Enfield who allowed his account to be used by fraudsters to transfer funds has was sentenced at Inner London Crown Court, and received a 12 month community order and 280 hours of unpaid work.

https://www.financialfraudaction.org.uk/news/2018/06/06/sentencing-of-26-year-old-money-mules-from-enfield-serves-as-stark-warning/

The Sanctions and Anti-Money Laundering Act 2018 received Royal Assent on 23 May 2018. Prior to this Act the UK's domestic sanctions regimes were confined to terrorism legislation.

http://www.mondaq.com/uk/x/708234/White+Collar+Crime+Fraud/Sanctions+And+AntiMoney+Laundering+Act+2018

The policy development update provides some information on recent and upcoming FCA publications but should not be regarded as comprehensive.

https://www.fca.org.uk/news/policy-development-update

Is the cryptocurrency a big fraud or wise investment?

https://www.standard.co.uk/business/bitcoin-on-trial-is-the-cryptocurrency-a-wise-investment-or-a-fraud-a3851171.html

With UK finance fraud losses standing at £618 million in 2016 (Financial Fraud Action UK), fraud is no laughing matter.

https://www.finextra.com/blogposting/15398/juggling-authentication-techniques-to-prevent-fraud-and-comply-with-gdpr

One month after TSB’s disastrous IT upgrades, customers of the UK bank are falling victim to fraudsters and phishing scams.

https://digit.fyi/tsb-customer-fraud/