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Key Takeaways
New Protections for APP Scam Victims: A reimbursement limit of £85,000 is being implemented, covering 99.8% of all authorized push payment (APP) scam cases.
Increase in Customer Complaints: Water companies in England and Wales reported a 29% increase in unresolved customer complaints, primarily concerning billing issues.
Starling Bank Fine: A significant fine of nearly £30 million has been imposed on Starling Bank for inadequate financial crime controls and reliance on a limited automated screening system for compliance.
Cabot Financial Ireland: The company is currently navigating the repercussions of a suspected cyber attack affecting credit union operations.
Reforms in Council Tax Collection: A report from StepChange highlights the need for major reforms in the UK Council tax collection system, which is perceived as aggressive and inconsistent.
AI Adoption in Financial Services: Rapid AI adoption is occurring, with 58% of finance...
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