Online Harms Bill: Lawyers warn new rules will have ‘chilling effect’ and hit businesses unnecessarily hard April 27, 2022 Broad and far-reaching legislation to tackle online harms could place a major burden on companies, particularly small businesses, lawyers told City A.M. today. The Government’s Online Harms Bill, published in March, seeks to address illegal and harmful content on the Internet with the aim of safeguarding UK citizens online. Companies that don’t comply with the [...]
Taxman ramps up asset confiscation amid Covid-19 fraud boom April 18, 2022 HMRC has confiscated assets worth £39m in around a year – a more than 700 per cent increase from 2020. The confiscations, made via account forfeiture orders over the past 11 months, dwarf that of the £4.8m the taxman snagged a year prior, according to law firm RPC. It comes as HMRC ramps up its [...]
Hackers pilfer $600m from Ronin Network in massive crypto attack March 30, 2022 Hackers have stolen almost $600m from a blockchain network connected to the Axie Infinity online game in one of the largest crypto attacks ever.
UK ransomware attacks double in past year March 28, 2022 New data has revealed that the number of ransomware attacks reported to the Information Commissioner’s Office has increased 100 per cent from 326 in 2020 to 654 in 2021.
More than 300 data breach whistleblower reports received by regulatory body March 21, 2022 The regulatory body dealing with data breaches has received more than 300 whistleblower reports in the last year, a leading law firm has claimed. The Information Commissioner’s Office (ICO) was told of 309 instances of breaches from employees, over alleged failure to protect information. RPC, the law firm which aired concerns, says some of the reports [...]
Retail and hospitality face growing army of whistleblowers reporting national minimum wage breaches March 14, 2022 The number of whistleblower reports relating to alleged National Minimum Wage breaches in the retail sector saw a 37 per cent jump in the past year, according to new data shared with City A.M. this morning. Figures show that 235 complaints were made in 2020 to 2021, up from 171 in the previous year, 2019 [...]
Ed Warner: Russia has taken us all for fools, especially spineless Thomas Bach February 24, 2022 Second in the table of overall medals won isn’t half bad for a nation denied a place at the Beijing 2022 Winter Olympics. Russia has taken us all for fools. You if you watched any of it. Me for doing just that. All the sporting politicians who allow Russian athletes to compete. The greatest fool [...]
High-flying barrister Nicola Cain struck off for forging judge’s signature in Steele dossier lawsuit February 7, 2022 A high-flying barrister has been struck off for forging a judge’s signature, while defending former MI6 agent Christopher Steele against a libel action filed by Russian tech tycoon Aleksej Gubarev. Veteran barrister Nicola Cain was disbarred for giving her client, Christopher Steele, a fake High Court order, on which she had cut-and-pasted a copy of [...]
City Moves: Who’s switching jobs in the Square Mile this week? February 1, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Knight Frank Knight Frank has posted a new head of London offices to its UK commercial business. Philip Hobley, who has been co-chair of London offices at the property consultancy since 2016, brings over 25 years of experience to the [...]
Financial services litigation in 2022: Push payments, crypto fraud, ESG and a jump in interest rates January 22, 2022 Push payments, cryptocurrency fraud and a jump in interest rates could lead to more litigation in the financial services sector in 2022, an industry expert discussed with City A.M. this weekend. One of the biggest drivers of financial disputes this year could be authorised push payment fraud. Authorised push payment fraud involves fraudsters duping consumers [...]