fraud

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.

The government's data protection watchdog yesterday criticised 11 of Britain's banks and building societies for failing to protect personal customer information from fraudsters, reports the Guardian .

Insurance firms and intermediaries are being urged to report suspected criminal behaviour to the Financial Services Authority as part of its work to reduce the level of financial crime.

Alan Steel Asset Management, a leading Scottish independent financial adviser, has been targeted by fraudsters, reports the Scotsman.

More than 10,000 people a month are expected to declare themselves insolvent this year as a culture of unsustainable debt grows among the "buy now, pay never" generation, says the Times .