Uk Finance news and trends

British Finance Sector Wants Delay on New Capital Requirements
Bank Regulation // August 06, 2023

England’s central bank is reportedly being pressured to forestall new capital requirements. That pressure, the Financial Times reported Sunday (Aug. 6) is coming from the British finance industry, which wants the Bank of England to hold off on adopting the rules for six months to give the UK’s...

UK Finance: 61% of Push Payments Fraud Tied to Meta
Security & Fraud // July 09, 2023

British lobbying group UK Finance has reportedly tied a bulk of the country’s digital payments fraud to Meta Platforms. As the Financial Times reported Sunday (July 9) — citing unnamed sources — the group has written to Jeremy Hunt, the British chancellor, saying that its data has found...

ComplyAdvantage Debuts AI-Powered Fraud Fighting Tool
Fraud Prevention // May 16, 2023

ComplyAdvantage says it is using artificial intelligence (AI) to ferret out financial crime. The fraud prevention firm announced Tuesday (May 16) the release of Fraud Detection, a tool that uses machine learning algorithms to detect and prevent scammers amid a rise in payments-based fraud. “Banks...

Pay.UK Says Controlling UK’s Payments Fraud Epidemic Needs More than AI
Security & Fraud // May 16, 2023

Over £1.2 billion ($1.5 billion) in the U.K. was stolen through authorized and unauthorized financial fraud in 2022, according to a recently published UK Finance report. And while that amounts to an 8% drop compared to 2021 figures, there’s no debate that the battle to prevent...

Interviews & Exclusives
Is the UK Brexiting From Instant Payments?

March 21, 2024
It’s often said that history repeats itself. It’s hard to look at the current state of play regarding instant, or real-time, payments in the EU and U.K. right now and not think about that adage. Because right after the EU standardized an ambitious plan to accelerate instant payments, the U.K. has countered with a proposal […]

Pay.UK Says Controlling UK’s Payments Fraud Epidemic Needs More than AI

May 16, 2023
Over £1.2 billion ($1.5 billion) in the U.K. was stolen through authorized and unauthorized financial fraud in 2022, according to a recently published UK Finance report. And while that amounts to...

UK Finance: How Far Can AI Go in Fighting Fraud?

March 16, 2023
Much has been said about the potential new technologies like artificial intelligence (AI) and machine learning have in transforming fraud detection and fraud prevention across industries. But according to UK...

Report: Some UK Merchants Remain Reluctant To Embrace SCA

August 18, 2020
Most markets including the European Union, the United Kingdom and the United States have seen a jump in online transaction volume as consumers react to the pandemic. One recent study...

Quick Reads
British Finance Sector Wants Delay on New Capital Requirements

August 06, 2023
England’s central bank is reportedly being pressured to forestall new capital requirements. That pressure, the Financial Times reported Sunday (Aug. 6) is coming from the British finance industry, which wants the Bank of England to hold off on adopting the rules for six months to give the UK’s finance sector the ability to compete with Wall Street. According […]

UK Finance: 61% of Push Payments Fraud Tied to Meta

July 09, 2023
British lobbying group UK Finance has reportedly tied a bulk of the country’s digital payments fraud to Meta Platforms. As the Financial Times reported Sunday (July 9) — citing unnamed sources — the...

ComplyAdvantage Debuts AI-Powered Fraud Fighting Tool

May 16, 2023
ComplyAdvantage says it is using artificial intelligence (AI) to ferret out financial crime. The fraud prevention firm announced Tuesday (May 16) the release of Fraud Detection, a tool that uses...

UK Records $1.5 Billion in Fraud in 2022

May 14, 2023
Fraudsters stole more than £1.2 billion ($1.5 billion) in the U.K. last year, down 8% since 2021. That’s according to new findings from UK Finance, which also concluded that 78% of authorized push...