Former City trader’s rate rigging conviction overturned Legal A former City trader previously convicted of rigging the Euribor interest rates has had his fraud conviction overturned. Christian Bittar, formerly a trader at Deutsche Bank, had his conviction overturned by the Court of Appeal on Friday after being sentenced to five years in prison for rigging the primary European interest rate, the Euro Interbank [...]
Former City traders’ fraud convictions overturned Legal A group of five former City traders previously convicted of rigging the Libor and Euribor interest rates have had their fraud convictions overturned by the Court of Appeal. The five investment bankers, who previously worked at Barclays, had their convictions quashed having served jailtime for conspiring to rig the now-defunct interest rates in the run-up [...]
Scrapping jury trials for fraud and financial cases brings ‘serious concerns’ Legal Government plans to push ahead with jury-free trials for certain fraud and financial proceedings raise “serious concerns”, according to the Institute for Government (IFG) and lawyers across the City. The proposal, introduced by former justice secretary David Lammy officially last December, following a recommendation in a review of the court system in England and Wales [...]
Revolut facing extortion threat after hackers steal customers’ data September 14, 2026 A group of Revolut hackers are threatening to release stolen customer data unless they receive payment from the fintech, after the company inadvertently handed over a trove of users’ private information. The digital banking giant said over the weekend a “very limited” number of customers had been affected by an impersonation scam, which compromised data including [...]
‘The problems didn’t begin with John Edwards’: Pressure grows for wider data watchdog overhaul July 9, 2026 John Edwards’ resignation was meant to draw a line under the workplace misconduct scandal that engulfed Britain’s data watchdog. Instead, it has shifted scrutiny onto the leadership that surrounded him – and of the regulator’s record long before he stepped down. Tech secretary Liz Kendall told MPs on Wednesday she was “appalled” to learn Edwards [...]
Wise profit slides as costs racks up from US listing June 26, 2026 Money transfer firm Wise saw its profit fall in its latest financial year as costs related to its new primary listing on Wall Street helped take a chunk out of the company’s bottom line. The UK fintech’s profit before tax slid eight per cent to $660m (£500m) – down from $717.5m – in its first [...]
HSBC coughs up $25m over Australian scam failures June 18, 2026 HSBC has agreed to cough up just shy of $25m after admitting to failures in protecting customers in Australia from scammers. The Australian arm of Europe’s biggest lender was investigated by the watchdog over alleged “widespread and systematic failures” to shield its customers targeted by fraudsters. The Australian Securities and Investments Commission (ASIC) said it [...]
Fraud losses surge as scammers use AI to manipulate victims June 15, 2026 Fraud losses from people being tricked into transferring money to scammers surged by nearly a fifth last year, as criminals turn to AI to manipulate victims. More than half a billion was stolen in 2025 after artificial intelligence created a “lower barrier for entry” for criminals, according to UK Finance. Criminals managed to trick victims [...]
Government aid ‘worth £28bn’ handed to terrorists, criminals and hostile states June 9, 2026 Billions of pounds of UK taxpayers’ money has been misspent as government aid and Covid relief funds ended up in the hands of terrorists, hostile states and criminal gangs, according to reports. A Cabinet Office dossier, unearthed by the Telegraph, found that more than £28bn ended up in the hands of the Islamic State and [...]
Wise shares plummet as money transfer firm faces fraud investigation June 1, 2026 Shares in money transfer firm Wise have plummeted this morning as the fintech faces an investigation over allegations its accounts have been used for criminal activity. Prosecutors in Belgium opened an investigation last year after discovering Wise accounts had been flagged in hundreds of international criminal requests that spanned over 30 European countries. The transactions [...]