Financial

As part of their study, they are conducting an independent survey to gain a better understanding of how professionals are targeted and recruited by organised crime groups (OCGs), the regulatory response to the threat of OCGs and the preventative measures aimed at safeguarding you as a professional.

https://www.lawsociety.org.uk/news/stories/independent-icpr-survey-on-money-launderers-targeting-professionals/

The new director of the SFO announced that the agency will ramp up its efforts to crack down on money laundering and attempt to speed up charging decisions against individuals.

https://globalinvestigationsreview.com/article/1175362/uk-serious-fraud-office-to-look-harder-at-money-laundering

Tesco Bank has been fined £16.4m by the Financial Conduct Authority (FCA) for failing to exercise due skill, care and diligence in protecting its personal current account holders against a cyber-attack in November 2016.

https://www.computerweekly.com/news/252449747/Tesco-Bank-gets-first-cyber-related-FCA-fine

The advertising watchdog has ruled Lloyds shouldn't be forced to ditch the claim it is "by your side" because HBos employees were found guilty of fraud.

https://www.ftadviser.com/mortgages/2018/10/05/watchdog-rejects-complaint-about-lloyds-puffery/

Banks in the UK will need to apply to the Financial Conduct Authority (FCA) by 14 June 2019 for an exemption from a central regulatory requirement of EU payment services laws.

https://www.out-law.com/en/articles/2018/september/fca-sets-psd2-interface-deadlines/

The UK's Treasury Select Committee has published a fairly strongly-worded report into "crypto-assets"

https://publications.parliament.uk/pa/cm201719/cmselect/cmtreasy/910/91002.htm

Moves to reimburse consumers who fall victim to push payment fraud has come a step closer with the publication of a draft voluntary code drawn up by a steering group of UK banks and consumer rights campaigners.

https://www.finextra.com/newsarticle/32712/new-legislation-may-be-needed-to-address-app-fraud

And as new research from financial services industry trade body, UK Finance reveals, bank account fraud – much of it carried out by means of simple confidence tricks – cost Britons more than £500 million in the first six months of 2018.

https://www.cashlady.com/news/payment-fraud-costs-customers-500-but-are-banks-playing-fair/

Scammers stole more than £500 million from UK bank customers in the first half of 2018, figures have shown.

https://www.shropshirestar.com/news/uk-news/2018/09/24/banks-urged-to-step-up-as-fraudsters-steal-500m-from-uk-customers/

The ringleader of a £2.8m fraud has been jailed for 13 years after being prosecuted by the Financial Conduct Authority.

https://www.ftadviser.com/regulation/2018/09/17/ringleader-of-2-8m-fraud-jailed-for-13-years/