Financial

Fraudster Perry "King Perry" Santillo is likely to trade his fancy duds for prison attire when he is sentenced on criminal conspiracy and fraud charges.

UK banks may have longer than counterparts in other EU countries to implement ‘strong customer authentication’ (SCA) standards for online payments, according to a Financial Conduct Authority (FCA) statement.

https://www.pinsentmasons.com/out-law/news/fca-holds-firm-on-strong-customer-authentication-plan

The UK government's decision to exempt banks from EU cybersecurity and incident reporting requirements is under scrutiny.

https://www.pinsentmasons.com/out-law/news/uk-cyber-rules-exemption-for-banks-under-eu-scrutiny

An adviser has persuaded a retired couple to contact the police and Action Fraud upon hearing they invested their life savings into a mini-bond provider that has gone off-grid.

https://www.professionaladviser.com/professional-adviser/news/3083396/adviser-offers-help-to-retired-couple-after-mini-bond-investment-firm-goes-off-grid

Why did normally sensible people invest all their money in a bogus currency with a cult-like recruitment programme? As the hit podcast concludes, we talk to the makers

The trial of a US lawyer accused of laundering some of the proceeds from the OneCoin cryptocurrency "scam" has begun in New York.

https://www.bbc.co.uk/news/technology-50289982

Criminals laundered money through the popular video game Counter-Strike: Global Offensive (CS: GO), developer Valve says.

https://esportsjunkie.com/2019/11/03/fraudsters-using-csgo-to-money-launder-shut-down-by-valve/

A mandatory 24-hour delay on all first-time payments from one bank account to another would cut mounting fraud in finance, Members of the UK Parliament said in a report on Friday (Nov. 1st).

https://eutoday.net/news/business-economy/2019/uk-parliament-report

A new voluntary code to reimburse UK customers who fall victim to authorised push payment (APP) fraud should be made compulsory and applied retropectively, says the Treasury Committee. MPs have also called for a 24-hour delay on a subset of Faster Payments transactions to give people the chance to consider if they are being defrauded.

https://www.finextra.com/newsarticle/34687/mps-call-for-backdated-app-fraud-reimbursements-and-faster-payments-delays

The Serious Fraud Office will confiscate a former City trader's self-invested personal pension to compensate the victims of a £32m Ponzi scheme.