, Columnist
The Fate of Virgin Money and the Rising Cost of Scammers
The arms race between financial cops and robbers is heating up.
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Did fraudsters take down Virgin Money Plc, the UK’s sixth-largest bank?
When the management team of Virgin Money UK Plc presented to shareholders on the merits of their agreed takeover by Nationwide Building Society last month, they laid out various reasons for recommending the offer. There was the price, of course – a 40% premium to the average market value over the prior three months. There was the scale: Together, the combined banks would become the second-largest provider of mortgages and savings in the UK.