The U.K. Treasury has released a consultation paper to understand the grassroots-level impact of a blanket ban on cold calls related to financial services and products. 1909 Total views 8 Total shares Listen to article 0:00 News Join us on social networksAs the United Kingdom prepares for a ban on finance-related cold calls, His Majestys Treasury has issued a consultation paper, and it is calling for evidence to gauge the full impact on businesses and the costs associated with introducing and implementing the ban.
On May 3, the U.K. government announced an ambitious fraud strategy, which would involve adding 400 new jobs to update its approach to intelligence-led policing. As Cointelegraph previously reported, the National Crime Agency estimates that fraud costs the country approximately 7 billion pounds ($8.7 billion) annually.
The government will not tolerate this behavior, said Andrew Griffith, the economic secretary to the Treasury, while criticizing the rising cold calls for financial services and products that often target the most vulnerable members of society. The Treasurys case study on crypto cold call scam. Source:gov.uk
The Treasury highlighted numerous instances where cold calls were responsible for investors losses, out of which one involved cryptocurrencies, as shown above. While the U.K. government previously implemented various prohibitions and restrictions on cold calling, scammers often find loopholes in the system to bypass the law. The Treasury intends to impose a blanket ban on finance cold calls. Source:gov.uk
Intending to impose a blanket ban on financial cold calls, the Treasury put forth 19 questions to stakeholders to ensure maximum impact on scammers and minimum effect on businesses that often rely on cold calling prospects. The consultation closes on Sept. 27, 2023.
Related: UK Treasury plans to exclude derivatives and unbacked tokens from regulatory sandbox
The U.K. government recently rejected the appeal to consider and regulate cryptocurrencies as gambling. HM Treasury and the FCA [Financial Conduct Authority] will work with the industry to ensure crypto firms are made fully aware of the standards required for approval at the FSMA gateway. Further communications will be provided in due course to ensure standards for approval are clearly available to crypto firms operating in the UK.
The government response noted that such an approach has the potential to completely counter the globally agreed recommendations from international organizations and standard-setting bodies.
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A pilot has died after a private jet owned by Motley Crue frontman Vince Neil crashed into another plane at an airport in Arizona.
Neil was not on board at the time of the collision, which happened off the runway at Scottsdale Airport on Monday afternoon.
Neil’s girlfriend Rain Andreani and her friend suffered injuries which are not thought to be life-threatening.
They were taken to hospital with the jet’s co-pilot, who was also injured.
“While details are still emerging, our hearts go out to the families of both the pilot who lost his life and the passengers who suffered injuries,” Motley Crue said in a statement.
“Motley Crue will announce a way to help support the family of the deceased pilot – stand by for an announcement very soon”.
Rain Andreani broke five ribs in the crash and the dogs the women were travelling with survived, TMZ reports.
Donald Trump says the Gaza ceasefire should be cancelled if all remaining Israeli hostages are not returned by noon on Saturday – as he warned Hamas that “all hell is going to break out”.
The US president’s intervention came hours after Hamas has said it will delay the release of more hostages and accused Israel of violating their ceasefire deal.
While signing a series of new executive orders, Mr Trump said he feared many Israeli hostages scheduled for release are already dead.
Referring to his Saturday deadline for the release of hostages, Mr Trump said: “If they’re not here, all hell is going to break out.”
He acknowledged that a decision to end the ceasefire was up to Israel, adding: “I’m speaking for myself. Israel can override it.”
Hours earlier, Mr Trump said Palestinians would not have the right to return under his plan for US “ownership” of Gaza – contradicting officials in his administration who said they would be relocated temporarily.
Earlier on Monday, Hamas claimed ceasefire violations had included “delaying the return of the displaced to the northern Gaza Strip, and targeting them with shelling and gunfire”.
Spokesman Abu Obeida said Hamas remained committed if Israel kept to the terms, but that the 15 February handover was postponed “until the occupation commits to and compensates for the past weeks”.
Egyptian security sources told Reuters that mediators now fear the deal will break down.
They said Hamas believes Israel isn’t serious about the ceasefire – which began on 19 January.
They were among about 250 people taken during the 7 October 2023 attack, when 1,200 people were murdered.
Please use Chrome browser for a more accessible video player
1:16
Tears as Thai hostages return home
Five swaps have taken place so far, with 21 hostages and more than 730 Palestinian prisoners released.
Saturday’s exchange was due to involve three more Israelis and hundreds of Palestinians.
Defence minister Israel Katz said any delay in releasing hostages would be “a complete violation” and he had instructed troops to be on highest alert.
The Hostages and Missing Family Forum called on mediating countries to restore the deal, saying “time is of the essence” and citing “the shocking conditions of the hostages released last Saturday”.
The four-mile-long Netzarim corridor separates northern Gaza from the south, and hundreds of thousands of displaced Palestinians have now crossed back over.
However, Israel pushed back the withdrawal by a few days in protest at the chaotic release of hostages Arbel Yehud and Gadi Moses.
This may be what Hamas is referencing what it talks of “delaying the return of the displaced”.
Please use Chrome browser for a more accessible video player
1:03
Palestinians return to destroyed Netzarim
There have also been examples of Israeli troops shooting at or near Palestinians approaching Israeli forces after being warned to stay back.
So far, little progress has been made on an extension to the first six-week phase of the ceasefire.
A delegation from Israel has arrived in Qatar for further talks amid concern the deal might collapse before all remaining hostages are freed.
Israel has previously said it will not agree to a complete withdrawal from Gaza until Hamas’s military and political capabilities are eliminated.
Hamas has countered that it will not hand over the final hostages until Israel removes all its troops from Gaza.
Donald Trump says the Gaza ceasefire should be cancelled if all remaining Israeli hostages are not returned by noon on Saturday – as he warned Hamas that “all hell is going to break out”.
The US president’s intervention came hours after Hamas has said it will delay the release of more hostages and accused Israel of violating their ceasefire deal.
While signing a series of new executive orders, Mr Trump said he feared many Israeli hostages scheduled for release are already dead.
Referring to his Saturday deadline for the release of hostages, Mr Trump said: “If they’re not here, all hell is going to break out.”
He acknowledged that a decision to end the ceasefire was up to Israel, adding: “I’m speaking for myself. Israel can override it.”
Hours earlier, Mr Trump said Palestinians would not have the right to return under his plan for US “ownership” of Gaza – contradicting officials in his administration who said they would be relocated temporarily.
Earlier on Monday, Hamas claimed ceasefire violations had included “delaying the return of the displaced to the northern Gaza Strip, and targeting them with shelling and gunfire”.
Spokesman Abu Obeida said Hamas remained committed if Israel kept to the terms, but that the 15 February handover was postponed “until the occupation commits to and compensates for the past weeks”.
Egyptian security sources told Reuters that mediators now fear the deal will break down.
They said Hamas believes Israel isn’t serious about the ceasefire – which began on 19 January.
They were among about 250 people taken during the 7 October 2023 attack, when 1,200 people were murdered.
Please use Chrome browser for a more accessible video player
1:16
Tears as Thai hostages return home
Five swaps have taken place so far, with 21 hostages and more than 730 Palestinian prisoners released.
Saturday’s exchange was due to involve three more Israelis and hundreds of Palestinians.
Defence minister Israel Katz said any delay in releasing hostages would be “a complete violation” and he had instructed troops to be on highest alert.
The Hostages and Missing Family Forum called on mediating countries to restore the deal, saying “time is of the essence” and citing “the shocking conditions of the hostages released last Saturday”.
The four-mile-long Netzarim corridor separates northern Gaza from the south, and hundreds of thousands of displaced Palestinians have now crossed back over.
However, Israel pushed back the withdrawal by a few days in protest at the chaotic release of hostages Arbel Yehud and Gadi Moses.
This may be what Hamas is referencing what it talks of “delaying the return of the displaced”.
Please use Chrome browser for a more accessible video player
1:03
Palestinians return to destroyed Netzarim
There have also been examples of Israeli troops shooting at or near Palestinians approaching Israeli forces after being warned to stay back.
So far, little progress has been made on an extension to the first six-week phase of the ceasefire.
A delegation from Israel has arrived in Qatar for further talks amid concern the deal might collapse before all remaining hostages are freed.
Israel has previously said it will not agree to a complete withdrawal from Gaza until Hamas’s military and political capabilities are eliminated.
Hamas has countered that it will not hand over the final hostages until Israel removes all its troops from Gaza.