Virgin Media 02 reignites calls to crack down on fraud as Brits lose £600m November 5, 2024 Virgin Media 02 has called on the new Labour government to appoint a dedicated minister for fraud and set up a centralised, specialised national body to handle investigations. The telecom giant has argued that current law enforcement resources regarding fraud “remain inadequate” despite fraudulent activity representing 40 per cent of all crime in the UK. [...]
HSBC UK warns millions over new gold scam November 4, 2024 HSBC UK has issued a warning to almost two million of its customers about a new gold scam. The banking giant has told people to watch out for an impersonation scam which involves buying gold and handing it over to criminals for “safekeeping”. HSBC UK added that it is contacting customers in a bid to [...]
Autumn Budget 2024: Treasury cracking down on fraud October 30, 2024 The Chancellor of the Exchequer has made fraud and error in the welfare system a priority, with a new programme aiming to save £4.3bn by the end of the decade
Millions pumped into anti-fraud work as DWP staff costs jump almost 200 per cent October 23, 2024 The Department for Work and Pensions has increased its anti-fraud staff costs by nearly 200 per cent since 2021, as it seeks to crackdown on fraud
The rise of the celebrity scammers October 21, 2024 What’s the fastest route from a jail cell to celebrity? For Anna Sorokin, it’s the quick-step. Upon her release in 2021, after serving just two years of an originally four-to-12-year sentence for posing as an heiress to extort $275,000 from her victims, how did Sorokin (better known by her con artist alias ‘Anna Delvey’) celebrate? [...]
Fraud cost Brits almost £600m in first half of 2024 October 18, 2024 Fraudsters stole almost £600m from Britons in the first half of 2024, new figures reveal, in a sign of the heavy losses banks will cover under new mandatory reimbursement rules.
Revolut named in more police fraud reports than any UK bank last year October 14, 2024 Revolut was named in more police fraud reports than any UK bank last year, new data has revealed, as the fintech prepares to launch as a fully-fledged lender in its home market.
Lloyds boss Charlie Nunn says Meta is not doing enough to tackle scams October 13, 2024 The chief executive of Lloyds Banking Group has joined calls for technology firms like Meta to do more to clamp down on a surge in scams originating from social media.
UK launches world-first bank transfer fraud refund scheme October 7, 2024 As of Monday, the Payment Systems Regulator is requiring more than 1,500 banks, fintechs and other payment firms to reimburse victims of authorised push payment fraud up to a limit of £85,000 per claim.
Revolut slams Meta for falling ‘woefully short’ in tackling scams October 3, 2024 Fintech giant Revolut has thrown its weight behind calls for social media firms to help reimburse scam victims, calling out Meta’s latest anti-fraud push for falling “woefully short”. The London-based banking app said on Thursday that it was “deeply concerned” Meta’s new UK bank data-sharing programme “does not address what’s required to tackle fraud”. Meta, [...]