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  • 3 years ago
The solicitor defrauded out of £750k of clients' money

The solicitor defrauded out of £750k of clients' money

Today the incredible story of a solicitor contacted by criminals, posing as her bank, and persuaded to transfer almost three quarters of a million pounds of her clients' money to the crooks. As a result of this crime Karen Mackie has been barred from working as a solicitor. Already facing personal financial pressures, she's now lost her livelihood and stands to lose her home after being declared bankrupt. With reports that three to four solicitors are being targeted this way every week with millions being lost, what is being done to protect our money?

Also, is a line under the costliest financial services redress scheme in history about to be drawn? With over £20bn already paid out , the Financial Conduct Authority is proposing to introduce a two year deadline for PPI complaints.

The level of protection given to deposits held by financial institutions is changing from 1st January 2016 from £85k to £75k. We hear from Money Box listeners about inconsistencies in how this change is bein