Investment fraud victims are suffering £373m of repeat fraud a year and can lose even more than they lost the first time they were conned, according to police data.

The Financial Conduct Authority (FCA) has commenced criminal proceedings against NatWest in respect to offences under money laundering regulations.

The FCA has imposed restrictions on wealth firm Dolfin Financial (UK) Ltd which stop it from carrying out any regulated activities due to concerns about the way it conducts its business.

Representative LIBOR rates will mostly be axed by the end of the year.