UK FACES STRICTER MEASURES TO TACKLE PANDEMIC

The UK is at a 'tipping point? in the Covid-19 pandemic, with the possibility of further ?heavy measures? to tackle the virus, the government is warning today (Daily Telegraph, p1, £). A second wave could lead to a £250-million-a-day loss to the economy if a partial lockdown stops people going to work, restaurants and pubs, according to a report from the Centre for Economics and Business Research (The Times, p37, £).

Meanwhile the Financial Times (p1, £) reports that the Treasury is drawing up plans to extend the application deadline for the government-backed coronavirus lending schemes until November.

Separately, figures from HMRC show that UK firms have voluntarily returned over £215 million in furlough scheme payments which they either did not need or were paid in error (BBC News).

STUDENTS WARNED OVER PHISHING SCAMS

Derek Ross, Executive Director of the Student Loans Company, has warned about phishing scams that target students receiving their maintenance loans at the start of the academic year (Sunday Times, £, B16). Derek Ross wrote in a blog last week that the emails and text messages often start with ?Dear Student? rather than a first name. Students are reminded to follow the advice of the Take Five to Stop Fraud campaign and always take a moment to stop and think before parting with their money or information in case it's a scam. If you receive a suspicious Student Finance e-mail, don't click on the link and send it to phishing@slc.co.uk.

Meanwhile James Coney, Money Editor at the Sunday Times (£, B11), calls for a more coordinated approach to tackling bank fraud and stopping money getting into the hands of organised criminals. He argues that other sectors such as social media firms, search engines and mobile phone companies should be held accountable for weaknesses in their systems that are being exploited by fraudsters.

NEWS IN BRIEF

A leak from FinCEN, the Financial Intelligence Unit of the US Treasury, has uncovered thousands of Suspicious Activity Reports submitted by global banks (Buzzfeed).

Modular homes could account for a quarter of new homes in Britain, under government plans to manufacture 75,000 factory-built properties by 2030 (The Times, p40, £).

The European Central Bank has started a review of the bond-buying scheme it launched in response to the Covid-19 pandemic reports the Financial Times (p4, £).

Eviction hearings will begin again today following a six-month ban during the coronavirus pandemic (BBC News).

The Sunday Times (p7, £) reports that 2,957 buildings, containing an estimated 186,000 flats, have registered for the government fund to pay for remediation work on cladding on high-rise buildings.

LATEST BLOGS

Gary Robinson, Detective Chief Inspector, DCPCU discusses how the unit successfully prevented over £12 million of fraud in the first six months of 2020.