Financial

Watchdog hits insurer for failures in its oversight of mobile phone insurance claims and complaints handling.

https://www.insuranceage.co.uk/insurer/3669661/fca-fines-liberty-mutual-ps52m

The director and senior staff supplied employees with scripts and contact lists for cold calling

http://news.cityoflondon.police.uk/r/1131/boiler_room_trio_jailed_after_offering_worthless_

Firms should pay close attention to it when designing and maintaining their anti-money laundering risk assessments and when considering what due diligence to undertake on new clients or transactions.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/751298/Annex_A_-_Advisory_notice_OCT_PDF.pdf

The government has teamed up with property industry experts targeting estate agents who fail to report suspicions of dirty money used to buy properties

https://www.gov.uk/government/news/government-campaign-to-prevent-properties-bought-with-dirty-money

The regulator advised on fraudsters using details of authorised companies to scam customers.

https://www.insuranceage.co.uk/regulation/3657421/fca-warns-on-clone-of-ellis-david-insurance-brokers

In response to growing concern about the scale of the problem, the organisation responsible for overseeing much of the transfer of money between accounts is stepping in with a new set of rules designed to make it much harder for criminals to operate and for wronged customers to get recompense.

https://www.cashlady.com/news/blocking-bank-fraud/

The Serious Fraud Office (SFO) is pressing to get criminal charges reinstated against Barclays related to its capital raising arrangements at the height of the financial crisis.

http://www.cityam.com/266484/serious-fraud-office-presses-criminal-charges-reinstated

Two board members of oil exploration and production company Afren, are facing long prison sentences after being found guilty of fraud and money laundering offences at Southwark Crown Court

https://economia.icaew.com/news/october-2018/afren-ceo-and-coo-found-guilty-of-fraud

A Gambling Commission investigation has revealed that Paddy Power Betfair (PPB) failed to adequately interact with customers who were displaying signs of problem gambling and failed to adequately carry out anti-money laundering checks.

https://www.gamblingcommission.gov.uk/news-action-and-statistics/news/2018/Paddy-Power-Betfair-to-pay-penalty-package-for-social-responsibility-and-money-laundering-failures-on-its-gambling-exchange.aspx#PaddyPowerBetfairpublicstatement

Investment is often based on trust and research, but that doesn't make an investor immune to investment fraud.

http://uk.businessinsider.com/investment-advice-warning-signs-of-investment-fraud-2018-10