A ‘ground-breaking’ public-private intelligence-sharing partnership has been established to use banking data to laser in on criminality.

The National Crime Agency (NCA) has announced that it is working with seven UK retail banks – including Starling Bank, which describes itself as ‘Britain’s first digital bank’ – on what it describes as a ‘major project to identify and take action against organised crime’.

https://www.globalgovernmentfintech.com/uk-public-private-partnership-tackles-criminality-using-banking-data/

Barclays has reported a whopping 139% increase in the total value of romance scams.

Romance scams increased sharply during May and June, according to data from Barclays, with men losing £3,500 on average and women £8,900.

https://moneyweek.com/personal-finance/barclays-reports-large-spike-in-romance-scams

Millions of pounds have been lost to cryptocurrency scams in north Wales in the last three years.

That is according to PC Jason Knowles of North Wales Police’s Cyber Crime, who is urging members of the public to be on their guard after a rise in cryptocurrency-related fraud and scams in the area.

https://www.wrexham.com/news/police-issue-warning-to-north-wales-residents-after-rise-in-crypto-fraud-255054.html

Barclays is warning Brits about romance scams as its research revealed an increase in claims.

The bank analysed its business and personal current account customer scam data and found a 139% increase in the total value of romance scam reports when comparing the period March to April with the period May to June.

https://www.bicesteradvertiser.net/news/national/uk-today/24480234.barclays-issues-warning-brits-rise-romance-scams/

The Insolvency Service has successfully closed down a fake travel company run by a man with several different identities and multiple fraud convictions behind him.

The Insolvency Service now want to contact any businesses or individuals who might be owed money by Zulu Travel Services Ltd operating from addresses in Birkenhead, Chester, Manchester and London and run by “Dr Darren Anderson” who was listed as its sole director. 

https://www.thebusinessdesk.com/northwest/news/2137119-serial-fraudster-behind-bogus-travel-company

Almost two thirds of all director bans last year, which included people working in the property industry, were related to misconduct and fraud related to covid loans although most avoided criminal prosecution, the Insolvency Service’s Annual Report and Accounts for 2023-24 shows.

The latest statistics released by the Insolvency Service this week shows the level of work the agency carried out in 2023-24 to tackle Covid loan abuse.

https://propertyindustryeye.com/insolvency-service-targets-covid-loan-abuse/

The UK continues to see staggering levels of fraud, with Ofcom research indicating that almost 9 out of ten online adults (nearly 43 million people) have encountered suspected scams. With fraud accounting for over 40% of crime, and having a significant impact not only on those individuals or businesses who fall victim, but also on the UK's financial reputation and our national and economic security, it is a critical issue for the new government to address. This article explores the Labour government's proposed strategy to combat fraud and the potential implications for various sectors.

Tackling fraud: the Labour Government's strategy (mishcon.com)

UK motor insurer Ageas has identified a concerning new trend in “crash for cash” scams: a scheme involving moped riders who intentionally position themselves to be hit by reversing vans in an attempt to be compensated by insurance.

‘Crash for cash’ scam gets new twist | Insurance Business UK (insurancebusinessmag.com)

Benefit fraud cost taxpayers a record £7.3bn last year as a wave of criminality sweeps Britain, according to the Department for Work and Pensions (DWP).

https://www.msn.com/en-gb/money/other/benefits-fraud-costs-taxpayer-record-7-3bn-as-society-becomes-more-criminal/ar-BB1qqwHa#

People are being warned against a 'Royal Mail scam' appearing in inboxes.

Facebook page, 'Lancashire Trading Standards Scambuster Stan', posted an example of the message to advise followers to stay vigilant. The email purports to be Royal Mail, stating the recipient has failed to receive a 'large letter' from HM Revenue and Customs.