Financial fraud losses reached £399.5m in the first half of 2016, a 25% increase on the £320.3m lost in the same period last year as a result of scams and online attacks.
Straits Financial will become the first US-based Futures Commission Merchant to accept bitcoin to fund trades and investments.
Crowd-trading platform Huddlestock has raised $1.5m in a seed round of funding. The capital comes from a number of Norwegian family offices and private investors.
French crowdlending platform for SMEs Unilend has raised a €2.5m ($2.8m) in a new round of funding. The capital comes from NewAlpha Asset Management.
Artificial intelligence-powered savings platform ABAKA has raised £520,000 in a seed funding round. Anthemis Exponential Ventures led the investment.
Point of sale consumer lending startup ZestMoney has picked up $6.5m in Series A funding. The round was led by Indian online payments firm PayU.
Square’s general counsel Dana Wagner is stepping down from his role at the end of September after five years at the payments firm.
Blockchain financial services firm Setl has secured funding from professional services giant Deloitte. The size of the investment is undisclosed.
Peer-to-peer insurance startup Lemonade has picked up $33m in a Series B round of funding according to an SEC Filing.
The World Bank estimates remittances to be a $600bn industry. Somaliland-born founder of WorldRemit, Ismail Ahmed, believes it could be worth a lot more.
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