Frauds

A record purchase scam level is behind the rise in APP fraud cases in 2023, UK Finance has warned. A record amount was lost to purchase scams last year, where people were tricked into paying for goods that never materialised, UK Finance said.

https://uk.news.yahoo.com/lloyds-bank-warns-customers-1-165009403.html

Hi, just read an interesting article on Inside Housing about tenancy fraud see below:

English regulator is ‘turning a wilful blind eye’ to tenancy fraud, experts warn

A non-executive director at the Tenancy Fraud Forum (TFF) has accused the English regulator of “turning a wilful blind eye” to tenancy fraud and said it has “lost sight of the real victims”.

A recent trial by the Department for Work and Pensions (DWP) has revealed that tens of thousands of benefit claimants may be breaking the rules. The DWP asked two high street banks to monitor the bank accounts of individuals receiving Universal Credit, Pension Credit, or ESA (Employment and Support Allowance).

https://uk.news.yahoo.com/dwp-trial-bank-account-monitoring-115918668.html

A woman who ran a multimillion-pound touting business which bought and sold tickets on an “industrial scale” has been jailed for four years by judge who said she acted “out of greed”.

Maria Chenery-Woods, who was known as the Ticket Queen, was the driving force behind Norfolk-based TQ Tickets Ltd, which used dozens of identities to buy tickets for high-profile acts such as Ed Sheeran and Lady Gaga and sell them on secondary ticket websites, often at highly inflated prices, a judge said.

Judge at Newport Magistrates’ Court imposes suspended sentence on chef who admitted carrying out fraud.

An award-winning chef who defrauded the care home he worked for by buying items that he intended to sell on for his own gain has been ordered to pay back the full amount.

Jamie Parker-Evans, also known as Jamie Parker, was head chef at Capel Grange Nursing Home in Newport when he carried out the fraud.

Muslims planning Hajj trips are often targeted by fraudsters when trying to organise the costly trip to Mecca but feel too ashamed to speak out, MPs heard in the build-up to this year’s pilgrimage.

Police forces across the country report that British Muslims are being fleeced out of between £1,000 and £33,000 by fraudsters who promise to arrange their Hajj travel and accommodation outside of official channels.

The Financial Conduct Authority (FCA) has charged Kristofer McGuire, Keith Williamson and Karla Walker with fraud for their alleged involvement in a high-risk trading scheme, which targeted people’s pension savings.

The three individuals were charged with multiple offences, including fraud by false representation and fraudulent trading, after allegedly targeting victims by persuading them to invest in contracts for difference (CFDs), a high-risk investment product used to bet on the price of an asset.

Two people who traded fraudulently through their business and scammed victims out of over £24,000 have been sentenced at Snaresbrook Crown Court.

After a lengthy and protracted investigation into the activities of a number of Letting agencies, the two defendants Sultana Akther, (40), of Spencer Road, Rainham and Skeena Noor Rashid, (27), of Herold Mugford Terrace, Pearl Close, Beckton, pleaded guilty to fraudulent trading.

Insurance customers are being warned that lying to their provider in an attempt to make some easy money could leave them with big bills or even a criminal record, after a fraud prevention body has seen a jump in bogus claims.

Between 2017 and 2018 there has been a 27% increase in fraudulent insurance claims across the UK, including spikes in the motor and household insurance sectors, Cifas said.

Welcome to the latest edition of Ebury’s Counter Fraud Update. In this edition, we’ll focus on two prevalent threats to businesses: Business Email Compromise (BEC) scams and Authorised Push Payment (APP) fraud.

Understanding these threats and implementing preventive measures are crucial to safeguarding your business assets and reputation.