Hundreds of financial firms are struggling to comply with a new UK regime designed to rein in online payment scams before an Oct. 7 deadline after one of the worst summers for fraud. Take the recent concerts by Taylor Swift in London’s Wembley Stadium. Lloyds Banking Group warned that more than 600 of its customers reported being scammed by fraudsters promising they had tickets to the shows, with each consumer losing about £332. Bloomberg’s Fintech reporter Aisha Gani joins Stephen Carroll to explain how fraud is booming and why it’s become such a thorny issue for the financial world.
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News post in August 21, 2024, 12:04 pm.
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