micky
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Post by micky on Jan 18, 2021 9:29:25 GMT
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11025
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Post by 11025 on Jan 18, 2021 11:11:29 GMT
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 18, 2021 11:15:19 GMT
We are all totally fed up and disgusted with the FCA pussyfooting and fornicating around, for years now. They and the Police need to rev up and prosecute & jail, including the "Professional" "Valuers." I think we are all dismayed at the TOTAL lack of ANY movement on this front, it's not that they're exactly lacking evidence. I'm very aware that there are several cases "pending" but I think we all have a VERY bad feeling about a tsunami of gutless whitewash heading our way. Guess we shall see............................. And remember, the FCA, there to Protect Consumers Interests! (And take responsibility.) 
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Post by brightspark on Jan 18, 2021 12:35:12 GMT
Its obvious to all and sundry that fraud is rife. At home, I, a pensioner, I receive telephone calls every single day regarding "my" amazon prime account, "my" washing machine service renewal contract, "my" BT account etc etc. All the financial institutions - banks, building societies are keen to remind me to be extremely vigilant whilst newspapers continually publish stories of victims - some of them very switched on - of the perils around. All my acquaintances have similar experiences. It is a malaise within society which grows and grows. Government has not a clue on how to deal with the issue - it is simply too widespread. They really do need to get a handle on it. Locking a few of the miscreants up in jail as a deterrent is not sufficient and Fraud Action Line is a joke.. More needs to be done technically to protect consumers. For instance i would like to know who actually is contacting me and where are they actually contacting me from. Alternatively, free to consumers, automatic call blockers might be worth consideration. Specifically relating to p to p better enforcement of the Regulation of the industry would be a good place to start. The FCA needs breaking up into smaller entities so that it can be held more accountable. Unfortunately it all costs money which is ever in short supply.
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 18, 2021 12:44:45 GMT
Its obvious to all and sundry that fraud is rife. At home, I, a pensioner, I receive telephone calls every single day regarding "my" amazon prime account, "my" washing machine service renewal contract, "my" BT account etc etc. All the financial institutions - banks, building societies are keen to remind me to be extremely vigilant whilst newspapers continually publish stories of victims - some of them very switched on - of the perils around. All my acquaintances have similar experiences. It is a malaise within society which grows and grows. Government has not a clue on how to deal with the issue - it is simply too widespread. They really do need to get a handle on it. Locking a few of the miscreants up in jail as a deterrent is not sufficient and Fraud Action Line is a joke.. More needs to be done technically to protect consumers. For instance i would like to know who actually is contacting me and where are they actually contacting me from. Alternatively, free to consumers, automatic call blockers might be worth consideration. Specifically relating to p to p better enforcement of the Regulation of the industry would be a good place to start. The FCA needs breaking up into smaller entities so that it can be held more accountable. Unfortunately it all costs money which is ever in short supply. I can't speak for all "call blockers" but "Sky Shield" has worked absolutely brilliantly for me. As a Sky customer it's free and it has blocked 100% of nuisance calls. I used to get two or three every day (usually around tea time) but have not had one for over TWO YEARS since I activated the system; and you can override it for known callers.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 18, 2021 12:52:37 GMT
"Locking a few of the miscreants up in jail as a deterrent is not sufficient..........." You write good postings brightspark, but it would be VERY sufficient if it was more than "a few." White collar crime goes virtually unpunished in this country and perpetrators know it, so they carry on practically enjoying "immunity". Start locking up loads of them with heavy custodial sentences AND confiscating their wealth and it would have an enormous deterrent effect. (Read "Freakonomics.") I totally agree about Action Fraud, a very grim and ineffective joke. Just like the FCA eh??? |
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Post by brightspark on Jan 18, 2021 14:09:23 GMT
Our prison population in proportion to GB overall population is already high. More fraudsters could be incarcerated but other criminals would have to be released earlier or granted suspended sentences. Building more prisons is questionable with the arguments well rehearsed. I feel the financial services sector needs to do more so that victims of fraud have more opportunity of recovery and fraudsters find it more difficult to instigate fraudulent operations There are no easy answers but technological solutions must provide a significant part of the mix. Currently if you visit your local police station with evidence of fraud the police seem ill-equipped and un-inclined to investigate the matter even when millions are involved.
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duck
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Post by duck on Jan 18, 2021 16:25:24 GMT
We are all totally fed up and disgusted with the FCA pussyfooting and fornicating around, for years now. ....... And remember, the FCA, there to Protect Consumers Interests! (And take responsibility.) Exactly but the problem is the FCA. This was highlighted in the Gloster report into LC&F. It should be noted that Andrew Bailey tried very hard to have his name (and that of other members of the Executive) removed from the report. "Investigations of this type are generally directed at identifying 'lessons learned' following a high-profile financial failure, it is normal for such investigations to focus on identifying institutional rather than individual failures." Gloster also notes that the FCAs main concern was 'reputational risk'. That said I note an interesting section where the FCA want the LC&F bondholders to prove a 'causal link' between FCA failures and actual losses. This is how the FCA work (and has concerned me for some time wrt Col) but we have pulled together enough evidence to be able to pin losses directly to FCA actions/inactions. Gloster's retort to the FCA was "The FCA's failures may be relevant to arguments that the FCA in some real sense 'caused' bondholders losses." So she recognises what the FCA are up to as well.
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