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  • 27 Sep 2020 5:57 PM | Jo Buckley (Administrator)

    HSBC allowed fraudsters to transfer millions of dollars around the world even after it had learned of their scam, leaked secret files show.

    https://www.bbc.co.uk/news/uk-54225572


  • 21 Sep 2020 1:35 PM | Jo Buckley (Administrator)

    Following a recent Freedom of Information request, the Financial Conduct Authority (FCA) has confirmed that so far in 2020 no criminal prosecutions have been made under the current anti-money laundering (AML) legislation, and that it has discontinued half of its 14 investigations into possible breaches of AML rules in the UK.

    https://www.mortgageintroducer.com/smartsearch-fca-weight-combat-fraud/


  • 21 Sep 2020 12:44 PM | Jo Buckley (Administrator)

    The UK’s Financial Conduct Authority (FCA) has reminded firms that compliance departments must keep information requests from the regulator strictly confidential to avoid compromising investigations.

    https://www.pinsentmasons.com/out-law/news/fca-issues-reminder-to-firms-handling-of-information


  • 21 Sep 2020 12:36 PM | Jo Buckley (Administrator)

    The City watchdog’s failure to provide adequate supervision of firms could be to blame for the increase in scams linked to high-risk investment products, Pimfa has told MPs.

    https://www.ftadviser.com/pensions/2020/09/16/pimfa-blames-fca-s-focus-on-large-firms-for-scams/


  • 14 Sep 2020 10:23 AM | Jo Buckley (Administrator)

    Financial services customers are operating with faster speed and greater agility in the payments space, now more than ever with the incremental volume of card-not-present transactions, accelerated adoption of contactless payments, and new financing options at the point-of-sale, among other key trends.

    https://www.finextra.com/newsarticle/36542/how-to-combat-payments-fraud-with-machine-learning-in-the-cloud


  • 14 Sep 2020 10:21 AM | Jo Buckley (Administrator)

    The Banking Protocol is being expanded to telephone and online banking after preventing victims from losing £116m to fraud since its launch in 2017.

    https://www.ftadviser.com/your-industry/2020/09/10/scams-initiative-expands-as-116m-saved-from-fraud/


  • 14 Sep 2020 10:16 AM | Jo Buckley (Administrator)

    A new three-step verification process has been created by anti-money laundering (AML) specialist SmartSearch.

    https://www.mortgagefinancegazette.com/market-news/fraud/triplecheck-aims-raise-bar-aml-security-10-09-2020/


  • 13 Sep 2020 9:24 PM | Jo Buckley (Administrator)

    Victims, including some aged over 100, have been targeted by fraudsters before banks stepped in to prevent big losses.

    https://www.bbc.co.uk/news/business-54069339


  • 07 Sep 2020 11:59 AM | Jo Buckley (Administrator)

    A woman has been arrested on suspicion of laundering money for a man who ran a network of over 400 properties used by organised crime groups involved in prostitution, cannabis cultivation and illegal immigration.

    https://nationalcrimeagency.gov.uk/news/woman-arrested-in-property-rental-network-money-laundering-probe


  • 07 Sep 2020 11:56 AM | Jo Buckley (Administrator)

    Two men have been convicted of money laundering for an organised crime network that was defrauding victims of millions of pounds through ‘smishing’.

    http://news.met.police.uk/news/two-men-have-been-convicted-of-money-laundering-409963

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