Tag Archives: NatWest

NatWest sounds alarm about rampant cryptocurrency scam

NatWest sounds alarm about rampant cryptocurrency scam
The scam typically involves criminals posting adverts online carrying a bogus celebrity endorsement on a fake website with an article promoting cryptocurrency. Investors are asked to complete a contact form and the criminal uses these details to follow up with a telephone call. During the call the fraudster, a “cryptocurrency trader”, helps the victim open a wallet with a cryptocurrency trading platform and in the process persuades the victim to install remote access software onto their computer.
Millions of pounds from being sent to crypto-criminals who are exploiting the high levels of interest in the currency. However, consumers should always be alert, especially to the use of fake websites and bogus celebrity endorsements.” 

NatWest encourages customers to beware of fake websites advertising get-rich-quick cryptocurrency schemes and urges anyone who is trading in cryptocurrency to verify that no one else can access their cryptocurrency wallet. If suspicious, investors should immediately stop making payments and contact their bank and the cryptocurrency wallet provider.

The Financial Conduct Authority website https://www.fca.org.uk/scamsmart/warning-list offers a search tool to check if a cryptocurrency wallet provider is registered with the UK authorities.  

Top tips to avoid becoming a cryptoscam victim

  • If you’ve been contacted by a ‘trader’ promising large profits and offering to help you invest in cryptocurrency, this is a likely to be a scam. 
  • Always have control of your cryptocurrency wallet. If you didn’t set the wallet up yourself or a cryptocurrency trader persuaded you to download remote access software onto your computer, this is a scam. You should stop making payments immediately.
  • Follow FCA advice and check the cryptocurrency firm you are dealing with has been approved by them. 

NatWest is also offering customers free Malwarebytes software to help with added online protection and recently introduced a Manage My Limits feature online which enables customers to configure their own security settings by restricting the amount of money that can be transferred out of their account.

More information on how to avoid scams is available from www.natwest.com or by clicking here.

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This post originally appeared on Daily Express :: Finance Feed

Brexit Britain’s platinum age! City champion rejects Remainer NatWest chief’s pessimism

Brexit Britain’s platinum age! City champion rejects Remainer NatWest chief’s pessimism

Professor Daniel Hodson, chairman of the City campaign group the CityUnited Project, was speaking hours after Howard Davies, the bank’s chairman, suggested the “golden age” of London being Europe’s financial capital was coming to an end in the wake of quitting the bloc. Mr Davies was commenting after banks including Morgan Stanley and JP Morgan confirmed they had relocated jobs to the continent – albeit in significantly lower numbers than initially predicted by doommongers after the 2016 referendum.

However, Prof Hodson moved swiftly to dismiss his concerns for the future.

The leader of the new Aurora Initiative for a Central Bank Digital Currency – nicknamed Britcoin by among others Chancellor Rishi Sunak – told Express.co.uk: “The golden age for the City will be surpassed by the new platinum age that is now coming.

“The important decision making and the value added part of transactions remain firmly rooted in London.”

Prof Hudson added: “The business moved to the Continent was predictable and expected.

“The City now has the independence and momentum to build on its global regulatory and FinTech leadership, its deep and diverse multi-currency markets and its Common Law heritage.

“The CUP’s Aurora Central Bank Digital Currency initiative could be an early glittering prize to be seized.”

JUST IN: Boris’s Brexit deal repeals key law which binds UK together

The City has been largely cut off from the EU since Britain’s full departure on December 31, 2020, with bankers and City officials not expecting any direct access to the bloc anytime soon.

In a column for Project Syndicate on Tuesday, Mr Davies said: “Almost five years after the Brexit referendum, and five months after Britain’s exit from the European Union, the future of London as a global financial centre seems secure.

“But although the City will remain Europe’s largest financial marketplace, its Golden Age as Europe’s financial capital is over.”

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The debate about the future of the City so far has remained a “dialogue of the deaf” as backers of Brexit say the hit would be minimal, while opponents of leaving the EU forecast “gloom and doom”, said Mr Davies, a former Deputy Governor of the Bank of England and Chairman of the UK Financial Services Authority.

COVID-19 has confused the picture, making it harder for staff to relocate from London to the EU, he said.

Trading in euro shares and swaps shifted from London to the continent, but it will take time for any putative rival in the EU to develop a plausible matching offer, he explained.

Bankers want Britain to focus on making the City more attractive for global investors and Brussels is scrutinising Britain to see how far it will go in diverging from EU rules.

David Frost, the UK minister in charge with ties with the EU, said yesterday it was important for Britain to use its freedom from the bloc to de-regulate in the most productive way possible.

He told MPs: “We are looking at financial services regulations and seeing what we can do now we are able to move on from EU arrangements in financial services.”

The Minister for European Affairs is setting up a new unit to start a “journey that will bring huge benefits”, he said.

NatWest has slashed back its overseas operations since its balance sheet ballooned to bigger than the size of the UK economy before requiring a government bailout in 2008 during the financial crisis.

However, its minnow investment bank NatWest Markets retains a presence in the eurozone in Amsterdam, which the bank bulked up ahead of Brexit.

Earlier this month, EY’s Brexit tracker estimated roughly 7,500 jobs and £1.2trillion in assets have left the City since the UK voted to quit the EU in 2016.

However, the figure is significantly lower than wild projections in the aftermath of the referendum result, including by Xavier Rolet, former chief executive of the London Stock Exchange, who claimed more than 230,000 jobs could be lost.

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This post originally appeared on Daily Express :: Finance Feed

London’s ‘Golden Age’ as Europe’s financial capital is over, says NatWest chair

London's 'Golden Age' as Europe's financial capital is over, says NatWest chair© Reuters. FILE PHOTO: A branch of NatWest Bank is seen in the City of London February 8, 2011. Britain slapped an extra 800 million pound ($ 1.3 billion) tax on banks this year, taking a harder line on the sector as it negotiates a deal to curb bonuses and free up b 2/2

LONDON (Reuters) – The City of London’s ‘Golden Age’ as Europe’s financial capital is over following Brexit, but it will remain a major and profitable centre, NatWest bank chairman Howard Davies said on Tuesday.

The City has been largely cut off from the EU since Britain’s full departure on Dec. 31, 2020, with bankers and City officials not expecting any direct access to the bloc anytime soon.

“Almost five years after the Brexit referendum, and five months after Britain’s exit from the European Union, the future of London as a global financial center seems secure,” Davies said in a column for Project Syndicate on Tuesday.

“But although the City will remain Europe’s largest financial marketplace, its Golden Age as Europe’s financial capital is over,” said Davies, a former Deputy Governor of the Bank of England and Chairman of the UK Financial Services Authority.

The debate about the future of the City so far has remained a “dialogue of the deaf” as backers of Brexit say the hit would be minimal, while opponents of leaving the EU forecast “gloom and doom”, said Davies.

COVID-19 has confused the picture, making it harder for staff to relocate from London to the EU, he said.

Trading in euro shares and swaps shifted from London to the continent, but it will take time for any putative rival in the EU to develop a plausible matching offer, Davies said.

Bankers want Britain to focus on making the City more attractive for global investors and Brussels is scrutinising Britain to see how far it will go in diverging from EU rules.

David Frost, the UK minister in charge with ties with the EU, said on Monday it was important for Britain to use its freedom from the bloc to de-regulate in the most productive way possible.

“We are looking at financial services regulations and seeing what we can do now we are able to move on from EU arrangements in financial services,” Frost told lawmakers. He is setting up a new unit to start a “journey that will bring huge benefits”.

NatWest, formerly Royal Bank of Scotland (NYSE:), has slashed back its overseas operations since its balance sheet ballooned to bigger than the size of the UK economy before requiring a government bailout in 2008 during the financial crisis.

But its minnow investment bank NatWest Markets retains a presence in the eurozone in Amsterdam, which the bank bulked up ahead of Brexit.

Therefore doesn`t .

By Huw Jones

Author: Reuters
This post originally appeared on Stock Market News