City of London unveils £600m Justice Hub at Salisbury Square September 18, 2025 The City of London Corporation is topping out the new flagship building, dubbed London’s new ‘Justice Quarter’, which features 18 courtrooms at Salisbury Square. The City’s £600m investment, which will serve as the new headquarters for the City of London Police, aims to enhance capacity in the criminal justice system, resulting in faster outcomes for [...]
Fraud prevention firm SEON raises $80m amid growing compliance demands September 16, 2025 SEON, an AI-driven fraud prevention and compliance platform, has closed an $80m (£58.7m) Series C funding round led by Sixth Street Growth, bringing total investment to $187m. The company, based in Budapest and Austin, analyses tens of millions of customer interactions daily for clients including Revolut, Plaid, Spotify, Afterpay, and Entain. Its platform, delivered via [...]
Two in five financial services firms lack safe AI controls September 11, 2025 As the financial services industry piles billions of pounds into artificial intelligence (AI), firms are lacking adequate measures to maintain safe usage, according to new figures. Fresh data from Big Four accountancy giant EY reveal 26 per cent of companies have no or limited controls in place to ensure AI systems adhere to laws and [...]
City of London Police chair: Fraud is ‘damaging the foundations of our nation’ September 10, 2025 The chair of the City of London Police Authority Board has warned that fraud is “damaging the foundations of our nation” and the UK must treat it with the same urgency as street crime. Speaking at the Police Authority Board dinner on Wednesday, City AM can reveal that Tijs Broeke told senior police, business, and [...]
Rayner scandal piles pressure on HMRC as tax surveillance force swells September 9, 2025 HMRC has increased the number of staff trained to physically monitor suspected tax evaders, as pressure mounts over Angela Rayner’s £40,000 stamp duty scandal. Official figures, obtained via Freedom of Information (FOI) and shared with City AM, show that 337 staff are now trained in covert surveillance, up from 171 people two years ago, in [...]
Businesses have one defence amid ‘seismic shift’ in UK fraud law September 1, 2025 Fraud laws have received a major shake up and businesses have been sent a stark warning to be weary of the “hidden danger”. New failure to prevent fraud offence, which came into effect today, mean firms could face prosecution from fraud committed by employees – even if management was unaware of it. Large firms will [...]
Large firms liable for fraud happening under their watch under new UK laws September 1, 2025 Businesses could be prosecuted if they profit from fraud committed by one of their employees even if managers do not know about it, under new UK laws. The new “failure to prevent fraud” offence, which came into effect on Monday, holds large firms to account over their internal anti-fraud measures. It says that businesses can [...]
What the FCA scam surge tells us about fraud in 2025 August 29, 2025 When fraudulent actors start posing as the Financial Conduct Authority (FCA) itself, you know the scam problem has entered a new phase. The UK’s chief financial regulator confirmed this week that it has already received nearly 5,000 reports of impersonation scams in the first half of 2025, with almost 500 victims tricked into handing over [...]
One time passcodes fuel rise in digital wallet fraud August 28, 2025 Warnings have emerged over the security of digital wallets, following a report by consumer group Which? found widespread use of easily compromised one-time passcodes (OTPs) by some banks, leaving customers increasingly open to fraud. The investigation, which surveyed fifteen high-street and digital banks, found that the majority are still relying on SMS OTPs to verify [...]
UK businesses set to face tougher compliance over fraud August 26, 2025 British businesses need to prepare for a “sea change” as the new powers to tackle fraud come into effect next Monday. The Serious Fraud Office (SFO) director Nick Ephgrave told City AM last year that time was running short for businesses “to get their house in order” ahead of its new powers. From 1 September, [...]