Financial loss from cyber activity rises almost six fold
Posted by: Westcor International
Fraud Cyber crime
CASE STUDY: Protecting our lenders against fraudulent borrowers
Posted by: Westcor International
What triggered the claim? The Lender was approached by Mr M for a short term loan to be secured as a second charge against the Property he jointly owned with his mother, Mrs Y. Once the loan was complete, Mrs Y would relinquish her interest in the property and Mr M would become the sole owner. Mr M was living at the property with his wife and Mrs Y and confirmed that they would be letting the property out and produced a tenancy agreement to reflect this. 6 months later, Mr M defaulted on the loan. The lender discovered that not only was Mr M still living at the property, but Mrs Y alleged that she had no idea why the property was no longer in her name, that she didn't know the solicitors who had acted on her behalf and that she did not understand the documents Mr M had asked her to sign.
Bank rate rise: duck for cover?
Posted by: Westcor International
The recent rise in the Bank of England?s base rate from 0.25% to 0.5% had been widely predicted. Some lenders had already raised their rates before the announcement, and others swiftly followed suit.
Growth in a time of cuts
Posted by: Westcor International
With everyone's eyes focused on Brexit and its complexities, along with US President Donald Trump's decision to withdraw from the Paris Agreement, it is easy to overlook the fact that the renewables sector is booming.
Paper trails
Posted by: Westcor International
A recent case at the High Court in Glasgow considered property fraud on an extraordinary scale. Perhaps most striking about the case was that it was the longest criminal trial in UK legal history, lasting over 320 days.
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