View more on these topics

PMS launches financial crime prevention hub for advisers

PMS Mortgage Club has launched a financial crime and mortgage fraud prevention hub to keep mortgage advisers updated on the latest emerging threats and provide practical guidance to help combat potential fraudulent mortgage activity.

The hub provides information and guidance on issues including: the different types of fraud that advisers need to be aware of, assistance with mortgage fraud prevention, good practice for working with introducers, guidance for buy-to-let business and working with portfolio landlords.

It also has links to organisations such as the National Crime Agency and Action Fraud for reporting suspicious activity.

PMS has also teamed-up with its sister-company Bankhall to provide access to additional tailored support for firms that want to review their current processes and safeguards, with a view to strengthening their systems and controls.

PMS Mortgage Club director of mortgages Jane Benjamin (pictured) says: “PMS is committed to helping directly authorised firms to write quality business and manage their risks. Mortgage fraud is an area of deep concern for advisers, and tackling financial crime has also been highlighted as a priority area by the FCA, including in their recently published business plan for 2019/20. These issues and risks are continually evolving, so our message to advisers is to be vigilant and stay safe.”

“We’re working closely with our members and lender partners to share information, best practice and practical guidance on how to deal with this threat. Our new hub will keep advisers informed and updated on the latest developments, with new PMS and lender content added on a regular basis as new threats emerge. In the event that advisers have suspicions on a case then we’re also making it easier for them to take the appropriate action.”

Private Finance director Shaun Church says: “As PMS members it’s important for us to work together in order to ensure that potential fraudsters do not have free rein within the broker community to dupe unsuspecting firms and their customers.

“That’s why this latest initiative from PMS Mortgage Club is to be welcomed, by providing a focal point and easy mechanism for reporting such enquiries, so well done to PMS for listening and implementing this.”


Conveyancers warned of new cyber fraud threats in updated guidelines

The Conveyancing Association has updated its Cyberfraud and Fraud Protocol to warn members firms of new threats. The new additions to the guidelines aim to help prevent member firms and their clients from falling victim to fraud and cybercrime. The updated protocol covers new threats in the areas of vishing, malware, phishing, smishing, cheque fraud, […]


Million-pound mortgage fraudster jailed after blaming broker

A nightclub owner and yacht designer has been jailed for mortgage fraud after first trying to blame his broker. Arthur Wilder was sentenced to three years in prison at Hull Crown Court this week for falsifying his income on mortgage applications despite having claimed that his brokers had done so without his knowledge. The Hull […]


Financial firms blocked £1.4bn of fraud in 2017

Banks and card firms blocked £1.4bn of unauthorised fraud last year, according to UK Finance. The trade body says this equates to two-thirds of all such fraud being stopped. Combined total unauthorised fraud losses from remote banking, cheques and payment cards fell 5 per cent in 2017 to £731.8m. However, 2017 saw a 3 per […]


Ami takes aim at new government documents

Embedded links in new government documents are being challenged by the Association of Mortgage Intermediaries. The new Help to Buy and Help to Sell guides, released by the MHCLG on 8 May, contain links that lead to what Ami describes as “a membership-based consumer charity” – ostensibly the Which? Website. This, says the association, is […]

UK policy: Kate Moss and short-termism

“Nothing tastes as good as skinny feels,” said supermodel Kate Moss, who is not often credited for her insights into policy making. Perhaps she should be. In politics, as in matters of diet, the course of action that is the best over the long term is often not the most desirable course of action in the short term. Add the instant gratification of the democratic electoral cycle and, instead of good policy making, you sometimes get the equivalent to a midnight binge in front of the fridge.

Read more

Important information

Investment risks

The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.


News and expert analysis straight to your inbox

Sign up