Wealth manager trade body PIMFA has warned members about a fraudster who has been impersonating a member of staff and contacting members.

Wealth management and Financial Planning giant Quilter has launched a new online tool for reporting suspected impersonation scams.

Data from the UK financial trade body UK Finance has revealed that a total of £503.4 million was stolen by criminals through authorised and unauthorised fraud in the first six months of 2018.