Frauds

One female victim from Switzerland lost more than £600,000 after the men tricked her into thinking she was in an online romance

https://www.standard.co.uk/news/london/online-dating-scam-men-jailed-newham-met-police-b1033252.html

The City of London Police’s Insurance Fraud Enforcement Department (IFED) has executed multiple warrants across the country as part of its offensive against travel insurance fraud, resulting in seven arrests.

https://www.insurancebusinessmag.com/uk/news/breaking-news/london-police-crack-down-on-travel-insurance-fraudsters-423306.aspx

A former carer who befriended a vulnerable man then stole more than £46,000 of his savings has today been jailed.

https://uk.style.yahoo.com/care-worker-jailed-stealing-more-130000707.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

A travel agent has pleaded guilty to a scam involving hundreds of customers, which could total £2.6m.

https://www.bbc.co.uk/news/uk-england-tyne-63205579

Ecommerce fraud to merchants could exceed $48bn globally in 2023, from just over $41bn in 2022, accelerated by the increasing use of alternative payment methods, such as digital wallets and BNPL, which are creating new fraud risks.

https://internetretailing.net/payment/payment-fraud-growing-driven-by-bnpl-while-hackers-also-now-target-returns/

Salv, the regtech company founded by Wise and Skype employees to combat financial crime, notes the Payment Systems Regulator’s (PSR) proposal to make it mandatory for banks to fully reimburse authorised push payment (APP) fraud victims.

https://thefintechtimes.com/payment-systems-regulator-new-proposal-gives-app-fraud-victims-a-chance-at-recovering-funds/

Food manufacturers are being urged to prioritise quality checks when choosing new CO2 suppliers, in order to minimise food fraud risk.

https://www.fdiforum.net/mag/health-safety/vigilance-on-food-fraud-needed-in-light-of-co2-scarcity/

The owner of a Lincolnshire caravan hire business has been found guilty of eight counts of fraud following an “influx” of complaints.

https://www.thebusinessdesk.com/eastmidlands/news/2063980-carvan-hire-boss-found-guilty-of-fraud#.Y0Cbr5KzEmw.twitter

The pandemic birthed a new era for e-commerce fraud, and the risks and vulnerabilities have never been greater. Data breaches and credential phishing alone exposed more than 1.1 billion personal records last year. and resulted in billions of dollars in losses for merchants through chargebacks, lost revenues and damaged customer relationships.

https://thefintechtimes.com/clearsale-data-breaches-and-identity-theft-are-fuelling-e-commerce-fraud/

Unlawful property investment schemes have now failed in huge numbers across the UK. Hotel rooms, student accommodation, rooms in care homes, storage pods and car parking spaces have all been sold unlawfully to unwitting investors. At one point, even burial plots were being sold in this way.

https://www.legalfutures.co.uk/blog/wake-up-to-the-great-british-property-scam