TECH COMPANIES JOIN BANKING INDUSTRY TO TACKLE FRAUD

Take Five to Stop Fraud today announces that major technology companies including Google, Facebook, Instagram, Twitter, Amazon, Microsoft and TikTok have pledged to support Take Five to Stop Fraud, the anti-fraud campaign run by UK Finance.

The technology companies are collectively donating $1million worth of advertising to the campaign which will help publicise the Take Five to Stop Fraud advice to consumers and will be making use of the Take Five content in their own communications.

David Postings, Chief Executive of UK Finance, said: ?Fraud poses a major threat to the UK and criminals are continuing to find new ways to target people with online scams. Tackling fraud is an absolute priority for the banking and finance industry, but it's one that requires work across different sectors of the economy. We are delighted that these major technology companies have agreed to support the work of Take Five as part of our collaborative approach to tackling fraud.?

Read the full UK Finance press release here.

UK DELAYS THE INTRODUCTION OF POST-BREXIT CHECKS

The UK is to delay introducing checks on food and farming imports from the EU, citing issues with Covid-19 disruption and pressure on global supply chains (BBC News). The delay was announced by Lord Frost who said customs declarations and controls will be introduced on 1 January 2022 as planned, but safety and security declarations will not be needed until 1 July 2022 (Financial Times).

Separately, Andrew Bailey said the EU's plans to move clearing operations away from the City of London could impact financial stability (Telegraph).

NEWS IN BRIEF

Inflation hit 3.2 per cent in August, according to the latest figures from the Office for National Statistics (ONS). The Consumer Prices Index measure of inflation increased from two per cent in July, driven by higher food costs. This is the biggest rise since records began in 1997, although the ONS described the August price increase as being 'temporary? (BBC News).

Only 13 of the 100 largest UK-listed companies have revealed their ethnicity pay gaps so far, according to the Chartered Institute of Personnel and Development which is calling for such reporting to be made mandatory from April 2023 (The Times).

One penny coins were produced again in 2020 after none were minted for general circulation in the previous two years, according to the Royal Mint (BBC News).

Chancellor Rishi Sunak has given his support for foreign private equity companies taking over British businesses, saying he sees it as a 'sign of confidence in the UK? (Guardian).

LATEST BLOGS

Philip Deeks, Insurance & Retail Conduct, EMA FS Regulatory Insight Centre, KPMG in the UK discusses the FCA adding Consumer Duty as a fifth priority to its Business Plan.