This is how many Londoners have been a victim of card fraud in the past year, and we’re running scared from contactless as a result April 7, 2016 Although the queue to get to card readers on your commute may beg to differ, Londoners are becoming increasingly terrified to tap. One in five Londoners (20 per cent) has fallen victim to card fraud in the past year, leading many to question the city's love of contactless payment, a survey released yesterday has found. [...]
Steel crisis: Why is everybody suddenly so fascinated by pension pots? April 6, 2016 The ongoing steel crisis has brought to the forefront not only questions about the UK's dwindling manufacturing industry but also worries about just how some of the country's biggest pensions commitments can be funded. So, the steel workers haven't been topping up their pension pots? Not exactly. Tata Steel's workers are members of the British Steel [...]
Cyber shock: Compliance staff perhaps the most likely to steal insider data April 6, 2016 It's always the quiet ones, isn't it? Research seen exclusively by City A.M. suggests that you might want to be keeping a closer eye on your compliance staff when it comes to safeguarding sensitive information. The report by FTI Consulting discovered that 60 per cent of compliance staff would consider taking data belonging to their [...]
Panama Papers scandal: Law firm admits it thinks it was the target of hackers as experts warn companies are misguided in their cyber security efforts April 6, 2016 Businesses are failing to identify weak spots in their cyber security systems, as the law firm embroiled in the Panama Papers breach admits that it believes it was targeted by hackers. A report seen exclusively by City A.M. by FTI Consulting has discovered that just less than half (43 per cent) of global institutional investors [...]
Libor scandal: Those trading with Barclays would have felt cheated by accused bankers if they had heard about alleged actions April 6, 2016 Those trading with Barclays would have felt cheated if they had got wind of what the five accused bankers had allegedly done, said the lawyer for the fraud squad today. Former Barclays traders Stylianos Contogoulas, Jay Merchant, Alex Pabon and Ryan Reich, along with one of Barclays' former Libor submitters Jonathan Mathew, have been charged with conspiracy to [...]
Four things you may have missed in the ICIJ’s Panama Papers report April 5, 2016 There's no denying that 2.6 terabytes worth of data is a lot to wade through, so it's not surprising that Sunday's Panama Papers report by the International Consortium of Investigative Journalists (ICIJ) was quite a lot to take in. Now that you've had a few days to get your head around the report, here's four things you [...]
Lawyer for the Serious Fraud Office urges courtroom not to overcomplicate Libor and to focus on the issue of honesty April 5, 2016 A lawyer representing the UK’s fraud squad in the latest Libor trial today urged a courtroom not to mystify Libor and instead focus on the defendants’ dishonesty. In his opening argument for the Serious Fraud Office (SFO), James Hines QC told those at the trial of five former Barclays bankers that “the most important element of [...]
HSBC and Credit Suisse bite back over Panama Papers claims April 5, 2016 Two big names from banking to have been caught up in the Panama Papers data breach came out fighting this morning, hitting back at allegations that they were using offshore structures to help their clients cheat the taxman. The information obtained by the International Consortium of Investigative Journalists (ICIJ) from a leak relating to Panama-headquartered law firm [...]
