fraud

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.

The former chief executive of Independent Insurance has received a seven-year jail term after being convicted of defrauding investors.

The Financial Services Authority has slapped a £350,000 fine on a private bank - and warned other firms they face large penalties if their anti-fraud systems are found wanting.

A high street bank has outraged customers after effectively banning everyone apart from the well-off from using one of its branches, says the Daily Telegraph .

Almost half of financial services firms believe financial crime has increased over the last two years, according to a report from the Financial Services Authority.