Mastercard has introduced what it says are new protections against real-time payment scams. The update to the company’s Consumer Fraud Risk (CFR) solution, announced Tuesday (Sept. 24), uses artificial intelligence (AI) to provide British banks with more visibility to prevent fraudulent transactions. The announcement comes just days ahead...
Four major U.K. banks have been accused of violating a regulator’s competition rules. The Competition and Markets Authority (CMA) says HSBC, Lloyds, TSB and AIB all breached a 2017 order created in response to competition concerns in the retail banking sector. The order requires banks to follow strict rules for informing customers about...
England’s Metro Bank has reportedly secured $1.1 billion from investors following a rocky week. As Bloomberg News reported Sunday (Oct. 8), the funding package is comprised of a £325 million capital raise, comprising £150 million ($183 million) of new equity and £175 million ($213 million) in new MREL...
Lenders including Barclays, HSBC, Royal Bank of Scotland and Virgin Money had to stop foreign currency services after exchange provider Travelex was hit by a ransomware gang, according to reports on Thursday (Jan. 9). The attack occurred on New Year’s Eve. On Jan. 2, Travelex...
September 30, 2024
British lenders are reportedly divided over whether to charge scam victims under new fraud reimbursement rules. Beginning Oct. 7, banks in the U.K. will be required to reimburse customers who fall victim to authorized push payment (APP) fraud for sums of up to 85,000 pounds. But as the Financial Times (FT) reported Monday (Sept. 30), those new rules […]
September 24, 2024
Mastercard has introduced what it says are new protections against real-time payment scams. The update to the company’s Consumer Fraud Risk (CFR) solution, announced Tuesday (Sept. 24), uses artificial intelligence (AI) to provide...
July 25, 2024
Four major U.K. banks have been accused of violating a regulator’s competition rules. The Competition and Markets Authority (CMA) says HSBC, Lloyds, TSB and AIB all breached a 2017 order created in response to competition concerns in the...
October 08, 2023
England’s Metro Bank has reportedly secured $1.1 billion from investors following a rocky week. As Bloomberg News reported Sunday (Oct. 8), the funding package is comprised of a £325 million capital raise, comprising...
