Financial

Digital banking has created openings for criminals and lenders must fight back

https://www.ft.com/content/ac4c3a80-4c7a-11e8-97e4-13afc22d86d4

Barclays chief executive Jes Staley was last week fined £642,430 for breaking rules by attempting to identify a whistleblower. The bank has also cut £500,000 from Staley’s bonus.

https://www.personneltoday.com/hr/barclays-ceo-fined-642k-over-whistleblower-probe/

An increasing number of people are being duped into becoming money mules

https://www.which.co.uk/news/2018/05/the-current-account-fraud-that-can-send-victims-to-prison-are-you-at-risk/

Responding to questions from the influential Treasury Committee, the ex-business owners said the FCA was ill-suited to handle serious complaints against the lenders it regulates.

https://uk.finance.yahoo.com/news/victims-bank-fraud-criticise-britains-financial-watchdog-174003205--sector.html

What are banks doing to keep their customers’ money and data safe as digital attacks proliferate?

https://www.cbronline.com/opinion/fraudsters-panorama

Credit-checking company Experian said criminals were behind 159 in every 10,000 current account applications in 2017, up from 138 in 2016.

https://uk.finance.yahoo.com/news/more-fraudulent-current-account-applications-084737583.html?guccounter=1

Detectives are investigating after Banking Protocol prevents £48,500 of fraud in North Yorkshire in just over 24 hours.

https://www.minsterfm.com/news/local/2571981/banking-system-prevents-fraud-in-north-yorkshire/

Young people should be aware of the criminal implications of taking part in “money-mule” schemes.

https://moneyweek.com/money-mule-scam-targets-students/

A master hacker who stole customers’ details from as many as 200 firms to sell on the dark web was seized by undercover police in a dramatic operation on board a train.

https://www.standard.co.uk/news/crime/moment-undercover-cops-pounce-on-500k-bitcoin-hacker-on-board-train-a3829071.html

Britain’s National Crime Agency is expanding a review into fraud allegations at HBOS, part of Lloyds Banking Group, that have already led to the jailing of six people in a scam that pushed business owners to hire a costly turnaround consultancy.

https://uk.reuters.com/article/uk-lloyds-bank-uk-probe/britains-crime-agency-to-expand-probe-into-hbos-fraud-allegations-idUKKBN1I11Q0