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Foreign News: Argentina's central bank chief resigns, scammers make it big in UK

26 September 2018 5:01PM
Luis Caputo, the head of Argentina's central bank, has resigned in the middle of negotiations with the International Monetary Fund, reports AP. The surprise resignation was announced in a bank statement that said Caputo was leaving for personal reasons. Argentina has asked the IMF for an early release of funds from a US$50 billion deal agreed earlier this year to ease concerns that Argentina will not be able to meet its debt obligations next year, after it was hit by one of the world's highest inflation rates and a sharp depreciation of its currency. The peso has lost more than half its value against the dollar so far this year. Caputo, who had only been in the job since June, will be replaced by former economic policy secretary Guido Sandleris. A new report from bank trade group UK Finance says cyber criminals made off with more than £500 million from UK bank account holders in the first six months of this year, reports Finextra. It says £145 million of the losses were from authorised push pay scams, where people are tricked into sending money to the wrong account. The rest was in fraudulent transactions. However, banks managed to prevent a further £700 million of losses through their fraud prevention schemes.

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