Page 9 - Steve Smart News Today

No financial services firm or professional welcomes an investigation by a regulator, let alone enforcement action. Each investigation proceeds differently...

No financial services firm or professional welcomes an investigation by a regulator, let alone enforcement action. Each investigation proceeds differently depending on the target of the...

So-called loan fee fraud is where criminals pretend to be legitimate firms offering to lend money - but victims end up losing an average of £260.

Loan fee fraud, where someone pays a fee for a loan they never receive, typically results in a £260 loss, the Financial Conduct Authority said.

Britons are losing an average of £260 to loan fee fraud - and the risk is increasing this summer.

Just over half (55%) of people are more worried about their finances this summer than last year, according to the City regulator, which is warning of […]

The Financial Conduct Authority found that Loan fee fraud usually peaks in the summer months as people want help to fund their summer spending.

Victims invested around £57m

Last week, the FCA published its Annual Report for 2022/23, which included the usual FCA annual enforcement performance data. Below we have selected 10 key points from the Annual Report...

Two brothers behind British peer-to-peer style investment platform, Collateral, have been sentenced to a combined eight years in prison for fraud and money laundering. Before its collapse into administration in February 2018, Collateral offered P2P style investments on a website fraudulently claiming it was authorised and regulated by the FCA.…