Santander has called for businesses to be vigilant against scams where fraudsters are pretending to be an employee from the bank.

Con artists are phoning businesses up and asking members of staff to give them access to their online banking account with the plan to transfer cash into scammers’ accounts.

https://www.yourmoney.com/news/scam-epidemic-santander-issues-warning-to-businesses-over-staff-impersonation-cons/

Holidaymakers have been warned against making fraudulent travel insurance claims ahead of the half term break this week.

What’s known as ‘opportunistic fraud’ makes up 85% of all travel insurance scams and is descried as when people who aren’t involved in organised crime attempt to make a fast buck with a fake claim.

https://www.yourmoney.com/news/scam-epidemic-police-warn-holidaymakers-against-making-fake-travel-insurance-claims/

• 53% of Generation Z targeted via impersonation scam
• 75% of Facebook users have been contacted by a fraudster
• 81% of savers have funds restored after fraud-related losses

One in five adults in the UK claim to have been a victim of financial fraud, with Generation X most likely to have handed over cash to a scammer, Paragon Bank research has found.

https://ifamagazine.com/a-fifth-of-adults-have-fallen-victim-to-financial-fraud-with-generation-x-most-vulnerable-paragon-bank-research-reveals/

Artificial Intelligence is accelerating an "arms race" in cybercrime, with hackers using the technology to attack all sizes of business, one of the police officers leading the battle against online fraud and theft has told Insider.

Detective Superintendent Vanessa Eyles, who runs the Cyber Resilience Centre for the West Midlands, has warned that hackers are increasingly targeting smaller businesses, not only for their own money and data, but as a way of getting into their targets' supply chains.

https://www.insidermedia.com/news/midlands/businesses-need-better-fraud-defences-in-ai-arms-race-say-police

Tony Craddock, director general of the Payments Association, warned that “overzealous” regulations could bump up costs for payment firms and cause a “flight of e-money firms” from the UK.

Speaking to City A.M. Craddock warned that a series of “well intended but misguided sets of regulations” risked eroding the City’s status as a leading hub of innovative payments.

https://www.cityam.com/new-fraud-rules-risk-a-flight-of-e-money-firms-from-uk-payments-chief-warns/

Nearly three-quarters (74%) of people have been targeted by scams in the past year, a survey indicates.

Six in 10 (61%) people surveyed for NatWest said they now see more digital and online scams than “real life” cons, such as bogus sellers going door-to-door.

https://www.itv.com/thismorning/articles/74-of-people-have-been-targeted-by-scams-in-the-past-year

Two women were arrested following eight reports of courier fraud in East Lancashire this month.

Victims were defrauded out of nearly £100,000 worth of cash or valuable items during these incidents.

A 26-year-old woman from West Bromwich was stopped on the M6 and arrested on suspicion of fraud by false representation on Wednesday evening (October 12).

https://www.msn.com/en-gb/news/uknews/two-arrested-after-lancashire-courier-fraud-victims-scammed-out-of-almost-100000-worth-of-cash-and-valuables/ar-AA1i6uKs

The FCA has fined Equifax Ltd (Equifax) £11,164,400 for failing to manage and monitor the security of UK consumer data it had outsourced to its parent company based in the US. The breach allowed hackers to access the personal data of millions of people and exposed UK consumers to the risk of financial crime.

https://www.fca.org.uk/news/press-releases/equifax-ltd-fine-cyber-security-breach

Ex-Formula One boss Bernie Ecclestone has plead guilty and agreed to pay a civil settlement of £652,634,836 after admitting to fraud.

The 92-year-old said “I plead guilty” at Southwark Crown Court on Thursday when accused of failing to declare more than £400m held in a trust in Singapore to the government.

He has been sentenced to 17 months in prison suspended for two years.

https://news.stv.tv/sport/ex-f1-boss-bernie-ecclestone-agrees-to-pay-652m-after-admitting-fraud

A man who was scammed out of more than £130,000 worth of cryptocurrency has appeared on a TV show to talk about his devastating experience.

Steve Williams, from Bolton, appeared on the BBC One's Rip Off Britain yesterday morning, Monday.

https://uk.news.yahoo.com/man-speaks-being-scammed-132-040000450.html/