The Latest Breaking News from Financial Conduct Authority

Sheldon Mills, executive director of consumers and competition at the FCA, told the PA news agency the organisation and lenders have to be proactive.

Experts have issued an urgent warning amid as scam that has been on the go for the last year targeting people who are in need of financial help - many of which have seen hundreds if not thousand being drained from their banks.

Chris Sheppard and wife Elaine handed the money to Michael Haston who was previously at the centre of a fraud investigation.

Michael Haston was nan was a major investor in Scotland's space race.

The UK government on Wednesday said it would legally guarantee access to cash as banks increasingly shut branches in the digital age. "Millions of people across the UK will benefit from new legislation to protect access to cash," the Treasury said in a statement. Under the legislation, the Financial Conduct…

The Financial Conduct Authority (FCA) says more than £25 million has been lost since January 2021

Almost half of bank branches have been earmarked for closure since 2015

The watchdog said it was concerned more households could turn to credit lenders during the cost-of-living crisis, which could lead to greater fraud.

The new scheme has been welcomed by campaigners