All Articles
All Articles from Safe Capital
ARTICLE Lloyds Bank sees a 29% rise in sophisticated Conveyancing Fraud
Lloyds Bank has seen a significant rise in conveyancing fraud scams, with a 29% increase in the number of scams being reported.
ARTICLE Bank Account Name Checks - When a Match may be Misleading
When making a payment, a positive match from the account name check is not confirmation that the bank account belongs to a client.
ARTICLE Five Tips for Preventing Residual Balances
This article explores residual balances, how they arise, and the importance of proper safeguards to ensure client funds are protected.
ARTICLE Accountant’s Reports: When are Residual Balances a Red Flag?
This article considers situations where an accountant might need to issue a "qualified" report due to residual balances
ARTICLE Meeting the SRA's Mark: Lessons Learned from Recent Residual Balance Cases
Recent investigations have demonstrated that the SRA likes to see that firms have adequate processes in place for managing and returning residual balances.
ARTICLE Coming Soon ISO20022: New requirements for property related payments
We are on the verge of a once in a generation improvement to the way money is moved on a global scale.
ARTICLE Have you noticed small, unexplained card payments to your firm?
Fraudsters can use ‘pay online’ pages on law firm websites to test stolen credit and debit card information. If you allow anyone to pay through your website, you may be enabling card fraud.
ARTICLE Nearly 80% of Authorised Push Payment (APP) now starts online
UK Finance, the trade association for the UK banking and finance industry, has released its half-year fraud report for 2023.
ARTICLE 17% of Small Businesses now use Open Banking
The latest Open Banking Impact Report from OBL shows that 17% of small businesses are now active open banking users.
ARTICLE Strong Customer Authentication: 18 Months Later
Strong Customer Authentication (SCA) is a set of rules that are designed to make online payments more secure and have been in effect in the UK for just over 18 months now.
ARTICLE WhatsApp Scam Targeting Community and Religious Groups
Action Fraud, the UK's national reporting centre for fraud, has warned of a recent WhatsApp scam targeting community and religious groups.
ARTICLE Rapid Response Scheme Thwarts Fraud Exceeding £55 Million in 2022
According to the latest data released by UK Finance, the Banking Protocol rapid scam response scheme successfully prevented £55.5 million of fraud in the previous year.
ARTICLE APP fraud victims to be reimbursed within five days under new rules
The Payment Systems Regulator (PSR) has announced new measures that will provide enhanced protection for individuals affected by Authorised Push Payment (APP) fraud.
ARTICLE Three trends from the UK Finance Annual Fraud Report
UK Finance‘s Annual Fraud Report for 2023 reveals some important trends in the fraud landscape.
ARTICLE Over £1.2 billion stolen through fraud in 2022
Over £1.2 billion stolen through fraud in 2022, with nearly 80 per cent of APP fraud cases starting online
ARTICLE UK Government Publishes New Fraud Strategy for 2023
Last week the UK government published a new fraud strategy that aims to reduce fraud by 10% by 2025.
ARTICLE Understanding A2A (Account-to-Account) Payments
Over the past few years, there has been a lot of discussion about A2A payments, which are known for being faster, safer, and cheaper.
ARTICLE Open Banking Payments vs Card Payments: A New Frontier in Payment Services
Traditional credit and debit card payments have been the common method for businesses and consumers to make payments. But open banking payments have emerged as a new alternative and are shaking things up.
ARTICLE Remote Working, Rising Risk: Friday Afternoon Fraud in Todays Conveyancing World
A recent Which? Investigates Podcast warns about the rising risk to consumers and law firms from Friday Afternoon Fraud.
ARTICLE Open Banking Impact Report: Open Banking Payments Surge
Open Banking payments are experiencing significant growth and are becoming more important to retail customers, especially as larger companies and major institutions adopt these options.
ARTICLE Friday Afternoon Fraud: 5 Proactive Measures for Protecting Your Clients
In this article, we share five measures you can take to reduce the chances of a conveyancing matter being targeted by fraudsters.
ARTICLE The Cost of Trust: Impersonation Scams Drain Millions from UK Consumers
As part of Take Five Week the public is being warned to beware of impersonation scams as new figures show there were 45,367 cases of this type of fraud in 2022.
ARTICLE The Family that paid the price for a Banking Blunder on Completion Day
An article in today's Guardian highlights the plight of a family who experienced a four-day delay in completing their move due to a banking error, costing them £3,600.
ARTICLE Fraud Prevention: The Power of Open Banking for Law Firms
For law firms, the need to protect their firm and its clients from the risk of fraud is ever present. So how can you mitigate the risk?
