Financial

UK challenger bank Tandem has opened up a new front in the fight against fraud, by starting a two-way in-app conversation with users before blocking suspicious transactions

https://www.finextra.com/newsarticle/32142/tandem-initiates-fraud-conversation-to-relieve-the-hassle-of-blocked-transactions

A cancer patient has had her £29,000 critical illness insurance payout stolen, MoneySavingExpert.com can reveal, as yet more cases emerge of TSB customers being targeted by fraudsters in the wake of its IT meltdown.

https://www.moneysavingexpert.com/news/banking/2018/05/tsb-to-refund-fraud-victims-as-cancer-patient-has-29000-payout-stolen

A vet who was called by a fraudster pretending to be from TSB has told how she lost almost £17,000 in a matter of minutes, amid mounting concern that TSB customers are being targeted by conmen taking advantage of the bank's recent IT meltdown.

https://www.moneysavingexpert.com/news/banking/2018/05/i-lost-17000-from-my-tsb-account-after-fraudsters-call

The Serious Fraud Office’s five-year investigation into Barclays' refinancing during the global financial crisis ground to a halt after a court dismissed the charges against the bank.

https://www.ftadviser.com/investments/2018/05/21/serious-fraud-office-charges-against-barclays-dismissed/

Banks, technology companies and regulators should work together to find new ways of categorising risks emanating from burgeoning technology, which could affect a lender’s regulatory capital requirements

https://www.ft.com/content/a3f24e26-5ace-11e8-bdb7-f6677d2e1ce8

The art of hiding money from the taxman is under threat from laws demanding greater transparency

https://www.theguardian.com/business/2018/may/21/breaking-bad-to-the-paradise-papers-all-you-need-to-know-about-money-laundering

City of London Police have written to the lawyer representing a rabbi who was arrested during a probe into the wealth management company HBFS to confirm there will be “no further action” against him.

https://www.thejc.com/news/uk-news/no-further-action-following-fraud-probe-into-rabbi-1.464194

A review of Lloyds Banking Group’s handling of one of Britain’s worst banking frauds is unlikely to be completed until late 2019 due to the volume of documents involved

https://uk.reuters.com/article/uk-lloyds-investigation/inquiry-into-lloyds-handling-of-hbos-fraud-slips-to-late-2019-source-idUKKCN1II21D

TSB customers have hit out at the bank after thousands of pounds was apparently taken from their bank accounts - and they had to spend several hours queuing on the telephone before they could report it.

https://www.moneysavingexpert.com/news/banking/2018/05/fraud-alert-as-tsb-customers-see-thousands-taken-from-accounts

Business crime solicitor warns against over-dependence on blockchain in the battle against financial crime.

http://www.bmmagazine.co.uk/opinion/blockchain-not-a-cure-for-fraud/