financial fraud

PSR sets out plans for mandatory reimbursements for APP scams

19th November 2021 Consumer Lending | #financial fraud #payments

Individuals who have been tricked into transferring money to a fraudster are set to be entitled to reimbursements under new plans by the Payment Systems Regulator (PSR). The PSR is also calling for the biggest banks to publish their performance data in relation to authorised push payment (APP) scams. The PSR is consulting on proposals…

NatWest faces £340m fine after pleading guilty to money laundering failures

8th October 2021 Consumer Collections | #aml #financial fraud #money laundering failures

National Westminster Bank Plc (NatWest) has entered guilty pleas at Westminster Magistrates’ Court to criminal charges brought by the Financial Conduct Authority (FCA) under the Money Laundering Regulations 2007 (MLR 2007). The court heard around £356m, £264m in cash, from one Bradford-based business customer was deposited in its NatWest account over a five-year period. The…

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financial fraud

PSR sets out plans for mandatory reimbursements for APP scams

NatWest faces £340m fine after pleading guilty to money laundering failures

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