Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for October 2016: Personal debt in the UK People in the UK owed £1.499 trillion at the end of August 2016. This is up from £1.445 trillion at the end of August 2015 – an extra £995.43 per UK adult. The average total debt per household…
Read moreLendinvest has appointed Willem Wellinghoff as VP of Compliance. Wellinghoff is responsible for leading the compliance function, setting and maintaining LendInvest’s compliance and risk management strategy. He also serves as a member of the LendInvest’s Governance Committee for Compliance and Risk. Wellinghoff boasts extensive compliance experience having spent a decade at Cabot Credit Management, a leading credit services…
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The Financial Conduct Authority (FCA) has banned Andrew Barry Hart, the sole director, controller and ultimate owner of Wage Payment and Payday Loans Limited (WPPL), from performing any role in regulated financial services. The FCA has also cancelled WPPL’s interim permission and refused its applications for WPPL to be authorised to carry out regulated activities…
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The latest Financial Fraud Action (FFA) UK report, published today, reveals a 25% year-on-year increase in financial fraud losses for the first half of 2016 to £399.5 million. John Marsden, Head of ID and Fraud at Equifax said “Cyber and ID fraud dominate the fraud landscape, and online scams and attacks continue to rise. E-commerce…
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The Financial Conduct Authority (FCA) has fined Sonali Bank (UK) Limited (SBUK) £3,250,600 and has imposed a restriction, preventing it from accepting deposits from new customers for 168 days. It has also fined the bank’s former money laundering reporting officer (MLRO), Steven Smith, £17,900 and prohibited him from performing the MLRO or compliance oversight functions…
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