Compliance fines bite financial services firms

Compliance fines and regulatory lapses continued to bite financial services firms hard in 2022.  

The Financial Conduct Authority (FCA), the industry watchdog, posted over £215 million worth of fines on its website for 2022. Santander received the biggest Read more

UK Government to crack down on fraud

The UK Government is to crack down on fraud by reforming Companies House and strengthening anti-money laundering powers.

Proposals contained in a new Bill – the Economic Crime (Transparency and Enforcement) 2022 Act (ECTE) – specifically targets “foreign elites” Read more

Risk from external fraud gathers pace

The risk from external fraud has gathered pace over the past twelve months with seven in ten businesses affected, according to the consultant PwC.

In fact, over the past two years fraud perpetrated from hackers and organised crime rings Read more

Fraud risk in government increased because of COVID-19

Fraud risk in government has risen rapidly due to the pandemic, said a report by the National Audit Office (NAO).

The spending watchdog said it was impossible to calculate the amount of fraud accurately. But it estimated that Read more

Pandemic increases fear of fraud risk

Fraud has been rising during the pandemic because organisations are distracted and not focusing on controls during a period where many staff are working remotely, according to a study.

Seven percent of executives taking part in KPMG’s Covid-19 Fraud Read more

The changing face of payments fraud

Payments fraud is the top concern for professionals in the finance industry, according to a recent report by TD Bank. The issue has moved into first place – 44% of executives polled said it was their number one Read more

Serious fraud office’s key priorities

The Serious Fraud Office (SFO) has announced its key priorities for 2019. The underlying role and remit of the SFO will remain unchanged, but the main areas of focus will be ensuring cases progress as quickly as possible; Read more