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Risk Management Industry News for FCA Regulated Businesses

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Financial Crime

Criminals use social media as a fast track for fraud

When it comes to fraud, social media is a double-edged sword. It’s a useful tool in the fraud investigator’s armoury, but in far greater numbers, criminals are finding it a quick, easy and anonymous route to ensnare their victims.

In recent weeks, the...

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Financial Services, Financial Crime

Internal fraud – why financial services must remain vigilant

A number of recent cases have resulted in respected names within financial services making it into the news - for all the wrong reasons. These firms had all employed people in positions of responsibility who had then committed varying degrees of...

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FCA, Financial Services, Financial Crime

FCA warnings of company cloning signals an epidemic

What do Smith & Williamson, Fidelity and Rothschild have in common? Apart from all being well known within financial services as investment providers, the answer is all three were recently cloned.

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Financial Crime, Cyber Crime

College for card fraud – how fraudsters learn on the dark web

Online ‘classes’ in how to commit card fraud are available on the dark web, making it easier for novices to find ways of committing financial crime.

Online tutorials were exposed by UK-based Featurespace, a provider of behavioural analytics...

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Financial Crime, Money Laundering

Overseas Entities law is set to clamp down on ‘McMafia’ money launderers

Forthcoming legislation is set to create a new property register to reveal the identities of overseas owners, which is likely to be an unwelcome development for money launderers. The Overseas Entities Bill should act as an important weapon in the...

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FCA, Regulation, Financial Crime

Regulators toughen up when punishing the rate riggers

Memories of the financial crisis have yet to fade and it is clear today’s regulators are taking a more robust approach than they used to. Their resolve can be seen most apparent in the high-profile cases resulting in jail fines and other sanctions,...

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