These schemes are an invitation to dodge taxes and accept bribes. And as the Pandora papers show, they’re thrivingIf it feels as if the secrets revealed by the Pandora papers – the biggest ever leak of offshore data – are familiar, that’s because they …
Virgin Money to close 31 branches across Scotland and north of England
Move to cut one in five outlets means bank has more than halved number of branches since 2018Virgin Money has announced it will close 31 branches – almost all in Scotland and the north of England – in the latest stage of the UK banking sector’s retreat…
Which form of venture debt should your startup go for?
Given the surplus of liquidity, entrepreneurs have access to more funding options than ever. Venture banks, venture debt funds and venture capitalists are jockeying to prove their money is greener.
Crypto liquidity is ready to eat cross-border payments’ lunch
Traditional foreign exchange companies will need to change their revenue models, which currently rely heavily on transaction fees, or risk becoming obsolete.
Scam ‘epidemic’: Big tech firms must join fight, says Nationwide chief
Building society launches pre-payment hotline after bank-transfer scams rise sharply during pandemicTechnology, telecoms and social media companies should take more responsibility for stopping scams as the problem reaches “epidemic proportions”, the UK…
JP Morgan launches digital-only Chase current account in UK
Analyst believes offering from US bank ‘will blow the competition out of the water’The US bank Chase has launched its first current account in the UK, prompting one analyst to say it “will blow the competition out of the water”.Offering 1% cashback on …
‘Eerie silence’ as Evergrande misses payment deadline
As debt-laden Chinese property giant enters 30-day grace period, officials look to limit unrest and job lossesThe embattled Chinese property developer Evergrande is inching closer to the potential default that investors fear, after missing an interest …
Banks must treat victims of scams more fairly, says UK complaints body
Number of people asking ombudsman for help rose by 66% between April to end of JuneBanks need to do more to treat people fairly when they are the victim of scams, according to the UK financial sector’s official complaints body, which is finding in the …
Vyne raises $15.5M seed round to grow its merchant-focused open banking solutions
Open banking — a new approach to payments and other financial services that disrupts traditional card-based infrastructure by linking directly into banks — is having a moment. On the heels of open banking startup TrueLayer hitting a $1 billion valuation in its latest round after seeing strong traction for its services, today another open banking […]
Fraud victim scammed for almost £25,000: ‘They had detailed information’
Merrick Anderson was called by someone posing as a member of Lloyds Bank’s fraud departmentFraud in UK at level where it ‘poses national security threat’Merrick Anderson lost almost £25,000 through an authorised push payment fraud in March.The universi…