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Probe aims to fight financial fraudsters

RSM Robson Rhodes is teaming with the Fraud Advisory Panel, the Home Office and the police for a comprehensive study into the impact of economic crime on the financial services sector.

Financial institutions are being asked to participate in the study on ways to curb economic crime which is estimated to cost financial services £10bn per year.

The research hopes to provide insights into the impact of economic crime, its cost to the industry and preventative measures. It will cover misappropriation, cheque credit card and cyber fraud, identity theft and money laundering. The results are due in October.

Home Office Minister Hazel Blears says: “A great deal of fraud can be prevented if organisations have appropriate measures in place and are aware of the risks and how to avoid them.”


Aifa says menu has become complex

Aifa has criticised the FSA&#39s proposed menu saying it has become overly complex and is in danger of losing its key message in its response to CP04/3: Reforming Polarisation: a menu for being open with consumers. Aifa says an overly complex menu will not be read by consumers, also criticising it for having a disproportionate […]

FOS will cover Sandler suite consumer complaints

Advice given on the Sandler suite of products will have to be suitable to the consumer to whom they are sold. Sandler consumers will be able to take unresolved complaints to the Ombudsman. The FOS will look at the specific rules on suitability for simplified selling rather than those that apply in the case of […]

Number of housebuyers down

The number of housebuyers on the books of estate agents fell by 13.6 per cent last month, according to figures released today by the National Association of Estate Agents. The NAEA&#39s monthly survey of almost 10,000 agents also revealed that new applicant enquiries fell 24.1 per cent over the past three months, as homebuyers demonstrate […]

Abbey introduces fast-track service

Abbey for Intermediaries has introduced a fast track process for low risk customers borrowing less than 60 per cent LTV and less than £500,000. The deal applies to both employed and self-employed borrowers and is part of a new flexible lending policy based on affordability. Abbey says the changes have been made in line with […]

Is volatility dead? No, sell credit

There are several arguments that one could currently make for why credit markets look unattractive. These include signals that the US economy is in late cycle, the fact that corporate leverage has been increasing (with 2016 setting a record for the amount of global bond issuance), and that US high-yield default rates have risen considerably […]


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