Financial

The number of reported financial investment-related fraud cases grew by 74% in 2018, driven by complaints about unregulated "shadow savings market" and cryptocurrency investments, revealing "cracks in the structure" of the UK's regulatory regime, according to law firm Pinsent Masons.

https://www.professionaladviser.com/professional-adviser/news/3074775/financial-fraud-spike-reveals-cracks-in-structure-of-uk-regulation

The financial services industry is under continued pressure to create more convenient ways of paying for goods and services.

https://www.finextra.com/blogposting/17184/is-your-organisation-doing-enough-to-keep-pace-with-fraud

Reported fraud cases related to financial investments rose 74 per cent to 6,890 last year, up from 3,950 in 2017.

http://www.cityam.com/276807/financial-investment-fraud-cases-jumped-74-per-cent-2018

Crypto markets are in turmoil. A “Black Swan” has flown in from New York, where the local Attorney General’s office has revealed that, “iFinex, the operator of both Bitfinex and Tether Limited (the firm behind USDT), had come under legal pressure from a key U.S. legal entity.” An alleged fraud of $850 million is the storyline. Bitcoin prices immediately fell from $5,550 down to $5,050, but have recovered to $5,200.

https://www.leaprate.com/cryptocurrency/bitcoin/cryptos-crash-over-alleged-850-million-fraud-at-bitfinex-btc-down-7/

A group of fraudsters conned £1 million out of their victims when they pretended to be wine brokers.

On 17 April 2019, the Financial Conduct Authority (FCA) published its Business Plan for 2019/20

Scam victims are to be reimbursed in full by TSB, which today becomes the first bank in Britain to offer a fraud refund guarantee. Telegraph Money has long called for banks to take action on a crime that has quickly become an epidemic.

https://www.telegraph.co.uk/money/consumer-affairs/tsb-first-bank-issue-refund-guarantee-fraud-victims/?WT.mc_id=tmg_share_tw

Recent research points to an increase in financial crime as criminals take advantage of access to billions of compromised data records for sophisticated application fraud attacks targeted at financial institutions.

https://www.finextra.com/blogposting/17086/preventing-financial-crime-and-delivering-seamless-customer-onboarding---can-you-accomplish-both

Two traders have been jailed after being convicted of conspiring to rig the Euribor global interest rate.

Former Managing Director at Barclays, Colin Bermingham, has been convicted of manipulating the Euro Interbank Offered Rate (EURIBOR) at the height of the financial crisis following an investigation and prosecution brought by the Serious Fraud Office.

https://www.sfo.gov.uk/2019/03/28/fourth-senior-banker-convicted-of-fraud-in-sfos-euribor-manipulation-case/