The Payment Systems Regulator (PSR) has confirmed that it’s new fraud-prevention tool – referred to as Confirmation of Payee (CoP) has now reached widespread usage providing additional protection to consumers and businesses. Confirmation of Payee allows users the opportunity to check the name of the person they wish to pay against the account number they…

The government’s plans to widen the job retention scheme to include part time working could see widespread abuse and fraud, according to analysis. by Blick Rothenberg. With the widening of the Job Retention Scheme (JRS) to include part-time working, the temptation for employers to exaggerate claims, especially in times when they need cash desperately, is…

One in four business leaders unaware of anti-money laundering (AML) regulation changes according to new research by SmartSearch. More than one in four (26%) business leaders admit they have no knowledge of recent changes to money laundering regulation and what they need to do to remain compliant. The research has revealed the extent of business…

Fraud prevention service Cifas has highlighted a scam whereby criminals posing as debt collectors are targeting bereaved relatives Fraudsters are increasingly targeting people recently bereaved. These callous scammers are purporting to be debt collectors recovering debts incurred by the deceased, and pressurising their relatives to pay the debt. Fraudsters are also contacting relatives to inform…

Fraud prevention service has highlighted some of the latest coronavirus scams and warned that the public need to stay vigilant of the ever-changing tactics that scammers are using to extract money and information. Business owners have recently been targeted by emails purporting to be from the Chief Executive of HMRC. Under the heading ‘HM Revenue…

Cifas, the UK’s leading fraud prevention service, is warning people working from home to be extra vigilant of fraud following a huge surge in coronavirus scams. The warning comes as Cifas sees a huge spike in online activity around coronavirus. On March 1st 2020 there were just 3,000 internet domains containing the phrase ‘coronavirus’, and…

Accounts payable teams have the power to halt the rise in fraud during the current crisis according to FISCAL Technologies.  The company says tackling financial fraud is more important now than ever – the key is the ability to maintain order and efficiency The ongoing impact of the coronavirus outbreak has seen an increase in…

The Dedicated Card and Payment Crime Unit (DCPCU) targets the organised criminal gangs responsible for fraud. It is made up of officers from the City of London Police and the Metropolitan Police Service as well as banking industry fraud investigators and support staff from UK Finance. Over the past year, the unit has worked in…

Over £100 million worth of fraud — often targeting vulnerable and elderly customers — has been prevented through the Banking Protocol, a UK-wide scheme that enables bank branch staff to spot potential fraud victims and request an immediate police response. The latest figures from UK Finance reveal that 16,462 calls have been made through the…

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