The Financial Ombudsman Service has told banks they should take into account the “evolution and sophistication” of frauds and scams – and not simply assume that their customers were “grossly negligent.”  

The Association of British Insurers has revealed that fraudsters are submitting a scam claim every minute of the day, underlining what it calls “the true extent of insurance fraud in the UK” which now amounts to £1.3bn a year.

The FCA is set to take over regulation of claims management companies and estimated the cost to be in the region of £17m.

The FCA has commenced a criminal prosecution against a man over unauthorised investment schemes.

Aberdeen Standard Investments has launched a new fund that utilises machine learning to identify sources of potential returns.

The tax collected from individuals breaching the Lifetime Allowance (LTA) has rocketed by £100m since it was introduced in 2006, with the latest figures showing that £110m in tax was collected from individuals exceeding the allowance during 2016/17, compared with less than £10m in 2006/7 when the LTA was introduced.

A new survey suggests financial services workers are among the worst in the UK at tackling workplace stress with 49% saying they do little or nothing to reduce stress levels due to work.

Fintech firm Origo has joined Scottish Financial Enterprise, as it continued its expansion across the UK.

Reports that the Government was considering a ‘Care ISA’ as part of its forthcoming Green Paper on Social Care have drawn sharp criticism from the profession.

A recent survey found that 58% of people would prefer insurance that pays a monthly income rather than a lump sum.