Banks fail in bid to share cost of refunding scam victims
BBC News, 30 April 2021
Negotiations between banks to create a permanent, central pot of money to refund scam victims have collapsed.
Seven banks and building societies had signed up to an interim, shared arrangement, but will now pay for refunds individually. The pot was being used to fund repayments when neither the bank nor customer were to blame for fraudsters stealing money.
An ongoing code means victims should not lose out on refunds. Continue reading “Article: Banks fail in bid to share cost of refunding scam victims”
AUSTIN (KXAN) — Not all ATMs are created equal.
We began April talking about Volkswagen’s April Fool’s Day prank that went awry, and we end the month back on the same topic. Circle of life!
NORFOLK, Va. (WAVY) — Two people were convicted Friday in a nationwide investment fraud scheme that caused losses of more than $25 million for more than 300 victims, many of whom were elderly.
Market manipulation is as old as the market itself. From arbitrage to front running, from pump and dump to cornering the market. But every imbalance will close at some point, and every front runner gets front-run by faster competition himself, eventually. In the case of Silver (XAGUSD:CUR) and its exposure to spoofing practices of various market participants, the principle is the same. The truth will prevail.
Dar es Salaam. Involving private sector and financial institutions is the best tactic that could be used to help investigate and prosecute syndicate leaders (Kingpins) involved in illegal Wildlife Trade (IWT) and money laundering.
Britain’s NatWest would move its headquarters out of Scotland in the event of a vote in favour of independence, its CEO Alison Rose said, only days before parliamentary elections there.
After the collapse of Lehman Brothers Holdings Inc., the Big Three rating companies were blamed for their enabling roles in the subprime mortgage crisis. Troubled securitized products would not have been marketed and sold without their seal of investment-grade approval. In fact, investors relied on their ratings, often blindly.
What would you do if you were confident you could get away with it? Perhaps you’d rob a bank, or have a wild affair. Or maybe you’d subsist on nothing but candy floss for the rest of your life.
Deutsche Bank AG reported its strongest quarter in seven years thanks to activity at its investment bank, while the lender escaped the implosion of Archegos Capital Management that badly hit some rivals.
Dutch authorities have hit the third largest bank in the Netherlands with a penalty of more than a half a billion dollars for longstanding failings in nearly every area of its fincrime compliance program, including lax customer risk scoring, shoddy alert investigations and missed reports of potential suspicious activity.