By Kyle Brasseur2023-11-08T14:38:00
Payment service providers could do more to support victims of fraud, including through better communication procedures, a review by the U.K. Financial Conduct Authority (FCA) found.
The FCA said while its review of firms’ fraud controls and complaint handling found examples of good practice, “[W]e were also disappointed with the way some firms supported customers who were the victims of fraud.”
The regulator, in a press release Tuesday, listed “poor complaint handling, including firms often taking too long to respond,” among issue areas observed. “Customers were provided with decision letters that were sometimes unclear; confusing; or included unhelpful and, on occasion, accusatory language,” the FCA said.
2024-04-03T04:34:00Z By Kyle Brasseur
“If you want to start to know who’s lying to you, all you got to do is pay attention differently,” advised body language expert Traci Brown during her opening keynote at Compliance Week’s 2024 National Conference.
2024-02-28T13:17:00Z By Ruth Prickett
Financial firms continue to flout rules designed to protect investors from being misled about the true value of financial products, according to a recent bulletin from the U.K.’s Financial Conduct Authority.
2024-02-13T19:17:00Z By Jeff Dale
The U.K. Financial Conduct Authority issued a fine of £31,800 (U.S. $40,000) against a former compliance director at London Capital & Finance for allegedly approving misleading promotions that led to investor deception.
2025-09-17T19:03:00Z By Ruth Prickett
More than half of all compliance teams are “actively using” or “piloting” AI applications, according to a Moody’s report. While most are focusing on streamlining routine tasks, some are developing AI agents and asking vital questions about AI decision-making.
2025-08-06T14:00:00Z By Aaron Nicodemus
The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
2025-06-26T15:37:00Z By Aaron Nicodemus
Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.
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