Financial

The financial regulator is upping its use of technology to catch out fraudsters, and has said data could help it predict which firms pose a risk.

https://www.ftadviser.com/regulation/2018/11/21/fca-to-use-data-to-predict-fraud/

The chairman of the parliamentary group for banking has notified Lloyds CEO he had written to the FCA about the case involving the Reading unit of HBOS, which Lloyds acquired in 2009.

https://uk.reuters.com/article/uk-britain-lloyds-hbos/mp-seeks-probe-into-lloyds-ceos-handling-of-fraud-case-idUKKCN1NQ2C1

The Financial Conduct Authority (FCA) has banned two Norwich-based advisers for using their advice firm to run a £17.5m fraud that conned more than 200 elderly and vulnerable clients.

https://www.professionaladviser.com/professional-adviser/news/3066392/fca-bans-adviser-brothers-convicted-of-gbp17m-fraud

Once again, cryptographic scammers have tried to make thousands of Twitter users victims of a fake Bitcoin (BTC) raffle.

https://www.crypto-economy.net/en-GB/google-victim-of-crypto-fraud-on-twitter/

Kweku Adoboli was handed a seven-year jail sentence in 2012 after he gambled away the record-breaking sum while working for UBS was detained in Scotland on Monday and placed on a Kenyan Airways flight leaving Heathrow on Wednesday evening.

https://www.heraldscotland.com/news/17218282.former-ubs-trader-who-faces-deportation-detained-in-glasgow-after-judicial-review-failure/

Following several studies, the Taskforce determined that cryptoassets pose new challenges to the current regulatory framework.

http://www.mondaq.com/uk/x/751656/fin+tech/FCA+Taskforce+Urges+UK+Authorities+To+Mitigate+Cryptoasset+Risks

Fraud victims risk being failed by new rules on reimbursement of losses unless key changes can be agreed, Telegraph Money says today.

https://uk.finance.yahoo.com/news/banks-want-foot-bill-paying-131610959.html

Watchdog hits insurer for failures in its oversight of mobile phone insurance claims and complaints handling.

https://www.insuranceage.co.uk/insurer/3669661/fca-fines-liberty-mutual-ps52m

The director and senior staff supplied employees with scripts and contact lists for cold calling

http://news.cityoflondon.police.uk/r/1131/boiler_room_trio_jailed_after_offering_worthless_

Firms should pay close attention to it when designing and maintaining their anti-money laundering risk assessments and when considering what due diligence to undertake on new clients or transactions.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/751298/Annex_A_-_Advisory_notice_OCT_PDF.pdf