Annually, thousands of businesses fall victim to fraudulent customers. Footlocker, for example, recently got swindled for 1.8 million Euros by a fake company called Ups Consultancy. This case also involved ING being fined on grounds of negligence in its due diligence of fraud and was widely reported on in the media. So, fraud not only…

Accountant in Bankruptcy (AiB) has released official statistics reporting company insolvencies in Scotland for the second quarter (July to September 2019) of 2019-20. The number of Scottish registered companies becoming insolvent or entering receivership increased slightly in the second quarter of 2019-20, with 235 companies becoming insolvent compared with 232 in the same quarter of…

Haydock Finance has announced the appointment of Andrew Roberts as Asset Manager. Roberts’ experience in the industry stretches 17 years. Having first worked at Alliance & Leicester’s Commercial Finance and then, up until September of this year, with Santander UK where he held the position of asset manager for 9 years, directly responsible for a…

Bibby Financial Services (BFS) has appointed Jade McClellan as a  new Relationship Manager for Trade Finance. McClellan joins BFS with 18 years’ experience in the financial services industry, having previously spent six years in the business working as a risk manager in the trade finance team. Prior to her new appointment, McClellan worked as collections…

International accounting and advisory firm Mazars has published a study canvassing public opinion on the UK economy and the audit system The study indicates that the public strongly supports audit reform, with nearly two-thirds (62%) stating that they don’t have trust in the current audit system to provide independent and accurate assessments of a company’s…

Cyber security experts tackled more than one million cases of suspected credit card fraud in the last year, data from the Government’s National Cyber Security Centre shows. The figures are contained in the NCSC’s third Annual Review, which also sets out the various ways the organisation has been protecting the public. This includes a pioneering operation…

Ireland’s regulator, The Central Bank has proposed reforms to financial services regulations, including a new Senior Executive Accountability Regime (SEAR) to ensure clearer accountability. The Central Bank considers these proposed reforms to be necessary enhancements to its supervisory and enforcement toolkit. Speaking at the Matheson Conference on Culture and Governance in Financial Services in UCD,…

Without support, people in their 70s and 80s are vulnerable to making decisions that lead to financial deprivation according to a new report by the Pensions Policy Institute. The Pensions Policy Institute (PPI) has published ‘Supporting later life’ report which suggests that preparing for later life requires people to make complex plans for the unpredictable…

Almost one in three consumers (29%) expect their finances to get worse in the next year, while only 14% believe their financial situation will improve according to a new YouGov poll for StepChange Debt Charity. Of those expecting to be worse off, 38% cited uncertainty in the wider economy as the cause, something that should…