Fraud cases breached Â£1bn level in 2007
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UK.gov = number one victim Organised gangs pushed the value of fraud to a 12-year high last year, with the UK government being the largest victim of their criminal activities, according to a new survey.â¦
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Savers deposited more than Â£16bn with building societies during 2007, the highest level to date, industry figures show.
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City of London awash with rumours that Â£3.7bn fraud is at the heart of the market turmoil
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French bank Societe Generale said Thursday it has uncovered a $7.14 billion fraud Â one of history's biggest Â by a single futures trader who fooled investors and overstepped his authority.
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Â· Oligarch accused of Â£250m tanker deals fraudÂ· Demand may worsen crisis in diplomatic relations
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The business racked up nearly $1 billion in losses since 2001.
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UK businesses lost more than Â£40bn last year, about Â£100m a day, as a result of economic crime, a report finds.
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Â· More than Â£1bn moved to 28 countriesÂ· Property in London, New York, Australia.
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New safeguards on credit and debit card payments in shops has led fraudsters to focus on internet and phone payments, an anti-fraud agency says.
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A UK insurance firm that recognized an unfolding fraud pattern but did next to nothing to protect its customers has been socked with a record fine by the British Financial Services Authority.
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Privacy concerns stemming from online shopping rose in 2007, a new study finds, as the loss or theft of credit card information and other personal data soared to unprecedented levels.
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MARSH &amp; MCLENNAN, the insurance broker at the centre of a bid-rigging and fee-fixing scandal, admitted that it had received more than $1.
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Business & money: Ill-judged comments saw deluge of customers reclaiming bank charges, says lawyer
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Website shows how you can hit back, too An Edinburgh man has obtained damages of more than Â£1,300 from British-based spammer.â¦
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The loss or theft of personal data such as credit card and Social Security numbers soared to unprecedented levels in 2007, and the trend isn't expected to turn around anytime soon as hackers stay a step ahead of security and laptops disappear with sensitive information.
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(InfoWorld) - The U.K.'s financial services regulator has levied a heavy fine against the nation's largest building society over a stolen laptop containing confidential customer information. The Financial Services Authority (FSA) fined Nationwide Building Society Â£980,000 ($1.9 million) for "failing to have effective systems and controls to manage its information security risks," the regulator said in a statement. Nationwide, which has about 11 million customers, did not realize the laptop contained customer information and waited three weeks before starting an investigation, the FSA said. The laptop was stolen from an employee's home during a burglary in August 2006, Nationwide said in a statement. The building society believes the thief was after the laptop itself rather than the information on its hard drive. The data was for marketing purposes and did not contain any PIN numbers, passwords, or account balance information, Nationwide said. Nationwide informed its customers of the problem and no losses were reported, it said. It also commissioned a review of its information security, the FSA said. (A building society is a type of cooperative financial institution, similar to a credit union in the U.S.)
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Identity fraud a hash About Â£13bn of fraud was committed in the UK in 2005, but the figure could be on the conservative side, a report commissioned by the Association of Chief Police Officers said today.â¦