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Tag: money

A money launderer who was caught trying to smuggle almost £2 million out of the UK in her suitcases has been jailed for almost three years. The National Crime Agency’s investigation into Tara Hanlon, age 30 and from Leeds, began in October 2020 after she was stopped from boarding a...
27.07.2021
Tesco Bank has said it will close all of its current accounts because most customers are no longer using them. The bank has estimated only 12% of its current accounts are being used by customers as their primary account. It said most had “limited activity” and others were being used...
26.07.2021
Christmas shoppers flooded England’s high streets for the first weekend since lockdown was lifted and non-essential stores were allowed to reopen. Despite the difficulties of the pandemic, retail experts predicted £1.5bn would be spent in shops nationwide on Saturday. Taking advantage of the first non-working day to do their Christmas...
05.12.2020
Transport for London’s current funding arrangement with the Government has been extended two weeks as talks between the two continue. Ministers are demanding that London’s congestion charge zone is extended and fares are raised in return for a £1 billion bailout package, Sky News reported. A TfL spokeswoman confirmed that...
16.10.2020
Over 80,000 UK firms have voluntarily returned more than £215m to the government in furlough scheme payments they did not need or took in error. According to HMRC figures, some 80,433 employers have returned cash they were given to help cover workers’ salaries. The money is a small part of...
21.09.2020
Officers from the Met’s Operation Venice Scorpion and Venice Investigation Team (VIT) have arrested a man and seized what is believed to be almost £1 million in cash. Detective Chief Inspector Shaun White, who leads the Operation Venice Command, said: “Whilst we are in the process of counting all of...
29.05.2020
A Bank of England scenario sees UK GDP falling 14% this year, its worst annual slump for more than 300 years, and the jobless rate hitting 8% as the coronavirus crisis ravages the economy. The Bank released its first work on the potential impact of the lockdown measures to limit...
07.05.2020
INSPIRED by Colonel Tom Moore, a 100-year-old Muslim man has raised more than £70,000 for coronavirus victims. Dabirul Islam Choudhury is fundraising for those affected by the Covid-19 pandemic in both the UK and Bangladesh by walking laps of his community garden while fasting for the religious festival of Ramadan. Following in the footsteps of national treasure Colonel...
07.05.2020
THE government is now paying the wages for nearly a quarter of UK jobs under a programme aimed at helping people put on leave due to the virus pandemic. About 2.5 million people registered last week for the scheme, bringing the total claims to 6.3 million – 23% of the...
05.05.2020
Banks have reported high volumes of interest in the scheme, which offers loans of between £2,000 to £50,000 that are 100% guaranteed by the government. The money is interest and payment free for the first year – with rates of 2.5% per annum after the first 12 months. Ministers say...
04.05.2020
Government-backed loans worth £330bn and a three-month mortgage holiday have been announced by the chancellor as part of “unprecedented” measures to help businesses and families. Rishi Sunak unveiled the package of support at a Downing Street news conference on Tuesday as he said the UK faced an “economic emergency” in...
17.03.2020
THE pound has fallen back to where it was before the UK general election amid fresh concerns over a no-deal Brexit. The government has said it wants to rule out any extension to the Brexit transition period beyond the end of next year. Sterling fell 1% against the dollar, to...
17.12.2019
THE Treasury has confirmed that thousands of commemorative Brexit coins will be “recycled” after the EU granted a three-month extension. Hours after Boris Johnson accepted the EU’s offer of a Brexit delay, a spokesman for the Treasury confirmed to the Standard that the coins would be recycled. It follows reports that the specially...
31.10.2019
Sterling surged on Friday (11 Oct) to a three-month high amid investor optimism about a last-minute Brexit deal between Britain and the European Union. Against the dollar the pound rose 2% to $1.2685, and against the euro was up 1.4% at 87.2p. The currency has rallied more than 3% since...
11.10.2019
A UK ticket-holder has won the full £170m Euromillions jackpot, making them Britain’s richest ever lottery winner. National Lottery operator Camelot said the £170,221,000.00 jackpot was won by a single ticket-holder on Tuesday. The ticket-holder is yet to be named and it is unknown if it is a single person,...
09.10.2019
A new system designed to tackle fraud in online shopping has been delayed for 18 months. Banks and retailers had been expected to introduce a new layer of security from mid-September. This would normally see a passcode sent to a customer’s mobile phone at the point of checkout for online...
15.08.2019
The Crown Prosecution Service will receive an extra £85m over the next two years, to help deal with a rise in violent crime in England and Wales. It comes as Boris Johnson launches a review of the sentencing of some dangerous and prolific offenders. He said dangerous criminals must be...
12.08.2019
Second World War codebreaker Alan Turing will be the next person to feature on the £50 note, the Bank of England has confirmed today. The mathematician, known as the ‘father of computer science’ for his innovative methods, was revealed as the new face of the currency at a conference at...
15.07.2019