Ruth Prickett

1 week ago | complianceweek.com | Ruth Prickett

Around 40% of all crime in the U.K. is fraud, making it a huge problem for banks and consumers. U.K. banks lost £1.17 billion to fraud in 2024, while taxpayers lost between £55 billion and £81 billion to fraud and error in the financial year 2023 to 24. “The scale of the problem is massive,” warns Ted Datta, head of industry practice for financial crime compliance at Moody’s.

3 weeks ago | complianceweek.com | Ruth Prickett

Up to 25,000 people a year in the U.K. are illegally promoting financial products or offering financial advice on social media, but none have yet appeared in court, according to the first Treasury Select Committee meeting on the subject of so-called “finfluencers.” Regulated financial services firms must comply with strict guidelines when they promote their products on social media and may be put at risk by unauthorised finfluencers.

1 month ago | complianceweek.com | Ruth Prickett

Financial Planning Corporation (FPC) is a regulated financial planning firm founded 40 years ago, gaining coveted Chartered status in 2008. As the U.K. financial regulator, the FCA promises to clamp down on unregulated “finfluencers” on social media. Moira O’Shaughnessy, managing partner and head of risk and compliance at FPC, explains why her firm takes a deliberately cautious approach to social media communications.

1 month ago | complianceweek.com | Ruth Prickett

Cyberattacks on major UK retailers, including Marks & Spencer, Harrods and Co-op, left the companies scrambling to reassure customers and staff about stolen data, pushing issues of cybersecurity and cyber resilience back into the national debate. Now the question is whether compliance managers should expect more technology regulations, or will legislators focus on corporate governance, internal controls and resilience.

1 month ago | complianceweek.com | Ruth Prickett

Cyberattacks on major UK retailers, including Marks & Spencer, Harrods and Co-op, forcing them to take down websites, suspend online sales and scramble to reassure customers and staff about stolen data, have pushed issues of cybersecurity and cyber resilience back into the national debate. Now the question is whether compliance managers should expect more technology regulations, or will legislators focus on corporate governance, internal controls and resilience.