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NEWS: HSBC pushes for tech firms to share £85,000 fraud compensation costs

Premium September 24, 2024

A view of the logo of HSBC bank on a wall outside a branch in Mexico City, Mexico June 14, 2024. REUTERS/Henry Romero/File Photo

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NEWS: German bank’s brothel loan under scrutiny by regulators

NEWS: LATEST: FATF, AMLA and FCA among top voices in AFC confirmed for IAFCS2026 

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NEWS: French FIU Tracfin seeks new intelligence chief

By Paul O’Donoghue, Senior Correspondent

HSBC has suggested that tech companies should help shoulder the financial responsibility of compensating victims of fraud.

David Callington, head of fraud at HSBC UK, commented on new regulations requiring financial institutions to compensate fraud victims up to £85,000.

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Premium

NEWS: German bank’s brothel loan under scrutiny by regulators

NEWS: LATEST: FATF, AMLA and FCA among top voices in AFC confirmed for IAFCS2026 

 Premium

NEWS: French FIU Tracfin seeks new intelligence chief

Regulatory Watch News

  • AUSTRAC warns of scammers impersonating agency and staff

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    AUSTRAC is warning the public to remain vigilant after discovering cases where scammers impersonated the agency and its staff in an attempt to steal money and sensitive information. AUSTRAC CEO Brendan Thomas said scammers are using emails, phone calls and messages that appear legitimate to pressure victims into making urgent payments or disclosing personal details. “AUSTRAC does not contact members of the public unexpectedly demanding payment,” Mr Thomas said.

  • Investigation Calypso: More than 10 000 seized e-bikes auctioned in France

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  • Illegal Activities of an Art Studio in Minsk Suppressed Involving Tax Evasion and «Enveloped» Salary Payments

    EAG

    The regional office of the Financial Investigation Department of the State Control Committee of the Republic of Belarus has identified and suppressed illegal activities of an art studio providing architectural design and interior design services for real estate projects located both in the Republic of Belarus and abroad. It has been established that during the period from 2022 to 2025, the company failed to fully reflect in its accounting records the funds received from the provision of architectural and design services. In total, more than 15 million belarusian rubles was concealed from taxation. These funds were used by the owners of the art studio for personal purposes, including the acquisition of high-value real estate in Belarus and abroad, as well as luxury vehicles.

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