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Banks Blasted Over Response To UK Payment Fraud
22nd May 2019 | Written by:
The UK’s top consumer rights watchdog has issued a list of demands to banks and regulators over spiralling payment fraud just days before a voluntary industry reimbursement code is set to be...
'Dirty Money' Claims Lead UK To Mull Overhaul Of Companies House
10th May 2019 | Written by:
The UK’s business register is coming under scrutiny for its role in enabling money laundering, with a consultation being launched on its overhaul as the government acknowledges the need for reform.
UK Credit Card Complaints Swell Ahead Of Retail Payments Review
23rd Apr 2019 | Written by:
UK consumer complaints about credit cards continued to climb steadily in 2018, defying an overall drop in the number of grievances received by regulated financial institutions, new figures show.
UK: UK Finance and EY Financial Services Release Joint Third-Party Risk Management Report
10th Apr 2019 | Written by:
On April 10, 2019, UK Finance released a report, jointly drafted with EY Financial Services, titled “Third-Party Risk Management: Keeping control in a rapidly changing world”, which recognises the...
FATF Considers Guidance On Proliferation Financing As Global Focus Grows
9th Apr 2019 | Written by:
Proliferation financing looks set to become a growing priority for financial institutions, as more governments and trade bodies follow the lead of the Financial Action Task Force (FATF) and turn...
UK: OBIE Publishes Illustrative Answers for PSD2 Contingency Exemption
8th Apr 2019 | Written by:
On April 5, 2019, the Open Banking Implementation Entity (OBIE), in collaboration with UK Finance, published a document entitled "PSD2 Contingency Exemption Form Illustrative Answers - Publication...
Push Payment Fraud Continues Its Climb In New Figures
22nd Mar 2019 | Written by:
Authorised push payment (APP) fraud losses rose by close to half again in the second half of 2018, with the UK’s faster payments system the tool of choice for criminals looking to whisk funds away...
SEPA Dust Settles As UK Granted Post-Brexit Access
8th Mar 2019 | Written by:
The European Payments Council has announced that the UK will retain access to the Single Euro Payments Area (SEPA) even in the event of a no-deal Brexit, putting an end to months of uncertainty.
FCA Keeps The Heat Up On Credit Card Fees
7th Mar 2019 | Written by:
The UK’s top financial regulator has published the results of the pressure put on credit card firms over the last two years to reform their fee structures, cautioning them not to slip back into...
Confirmation Of Payee Nowhere To Be Seen In Final APP Code
1st Mar 2019 | Written by:
A financial industry framework to tackle particular types of fraud in the UK will come into effect in late May, it was announced late on Thursday, but the regulator has scrapped plans to implement...
UK Industry-Police Collaboration Cuts Out Nearly £100m In Fraud
19th Feb 2019 | Written by:
A joint effort by UK police and the financial services industry prevented £94.5m of fraud and courts convicted 48 fraudsters on the back of its investigations last year, an industry group has...
'No Decision Made' To Delay Launch Of Anti-Fraud System, Says PSR
18th Feb 2019 | Written by:
The UK’s Payment Systems Regulator (PSR) has denied it has pushed back the deadline for banks to launch a “confirmation of payee” system, despite industry claims its introduction could be at least...
UK Banks Seek Legal Clarity On 'Slower Payments' To Stop Fraud
14th Feb 2019 | Written by:
UK banks have called for support from regulators on slowing down payments as part of an anti-fraud strategy, as the sector readies itself for incoming new industry standards.
Money Transfer Still King In Booming Romance Scam Industry
12th Feb 2019 | Written by:
Money lost by UK citizens to romance scammers has soared over the past year despite wider industry anti-fraud efforts, as money transfer businesses remain conduits of choice for largely offshore...
UK ‘Banking Protocol’ Stops £38m In Attempted Fraud, Industry Reveals
6th Feb 2019 | Written by:
UK Finance is the touting the success of its banking protocol scheme in preventing £38m of fraud in 2018, although consumer groups are highlighting the need for continued pressure on remote as well...
Industry Points To TPP-Shaped Hole In Push Payment Fraud Code
29th Jan 2019 | Written by:
Banks in the UK have called on regulators to make clear how payment initiation service providers will fit into the upcoming voluntary industry code on thwarting authorised push payment (APP) fraud.
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