The number and value of fraudulent property transactions is at a record high. Last year, the Land Registry prevented the registration of nearly £25 million worth of transactions due to fraud. Neil Franklin and Sam McCollum from law firm TLT, examine the current position in relation to property hijack fraud and the remedies available for innocent purchasers and lenders, ahead of two important Court of Appeal cases
To improve its anti-mortgage fraud defences Coventry Building Society has adopted a predictive analytics software service from Synectics Solutions.
Mortgage distributor TMA Club is using SmartSearch to enhance electronic identification checks (EID) for anti-money laundering (AML) for its directly authorised (DA) broker members.
Illegal money lender Dharam Prakash Gopee has been sentenced to three-and-a-half years imprisonment and issued with the Financial Conduct Authority’s first Serious Crime Prevention Order (SCPO).
SmartSearch, an anti-money laundering (AML) and RegTech firm, is expanding into the mortgage and financial services industry to help banks, building society, networks and brokers to comply with money laundering regulations.
The Payment Systems Regulator (PSR) has published a report on its work to protect consumers from authorised push payment (APP) scams – where people are tricked into sending money to a fraudster.
Equifax Ltd in the UK has now identified unauthorised access to the personal information of up to 400,000 consumers.
Equifax has been hacked in a cybersecurity breach which could potentially impact 143 million Americans and some UK and Canadian residents. The credit reference agency said it is working with UK and Canadian regulators to determine appropriate next steps. Its investigation found that criminals exploited a US website application vulnerability to gain access to certain files between mid-May and 29 July 2017, when the intrusion was ...
Following new anti-money laundering law, estate agents now have to scrutinise house buyers’ finances to make sure they are not buying property with dirty money. But the legislation was rushed through and there is concern that estate agents are not fully aware of their responsibilities. Alex Ktorides, partner at Gordon Dadds, explains
Mortgage fraud can mean big bucks for conmen but if caught and convicted it will result in long jail terms. MFG takes a look at some recent court cases