fraud

Quest, a survey and valuation technology provider, has launched a new system to help lenders spot mortgage fraud it was announced today.

The FSA has helped investors to retrieve over £1m after they were illegally sold shares by unauthorised, foreign investment firms, known as boiler rooms.

There was a significant increase in incidents of reported mortgage fraud during 2007, with one fraudster making a £10m profit, according to the Association of Chief Police Officers (ACPO).

The FSA says it will be stamping down on the 'widespread' problem of mortgage fraud in 2008.

Tahir Mahmood, a mortgage broker banned from conducting regulated business by the FSA for falsifying incomes, suggests the regulator would find many more brokers guilty of the crime if it stepped up its checks.

The FSA has banned two mortgage brokers for submitting false applications to lenders it was announced today.

The Association of Mortgage Intermediaries (AMI) has called for calm across the mortgage arena after the FSA's Philip Robinson suggested criminal activity is rife in the market.

The FSA has investigated over 200 cases of possible mortgage fraud submitted by lenders in the past 18 months it was revealed today.

A ‘fake' stockbroker has been sentenced to 15 months imprisonment for dishonesty including theft, the FSA has confirmed.

Norwich Union Life has been fined £1.26m by the FSA for failing to protect its customers' confidential information and manage its financial crime risks.