13th October 2022 - Credit Connect

Report reveals huge money-laundering loophole

13th October 2022 Consumer Lending | #anti-money laundering

Anti-money laundering specialist SmartSearch is backing calls for reform of the UK’s company registration system after a report revealed that thousands of UK-registered Limited Liability Partnerships (LLPs) bear the hallmarks of shell companies for serious financial crime. An investigation by anti-corruption organisation Transparency International UK found that more than 20,000 Limited Liability Partnerships almost one in…

Administrations leap 50% as economic headwinds start to take their toll

13th October 2022 Business | #Insolvency Administrations

The number of companies filing for administration jumped 50% in the third quarter of 2022, as economic headwinds continued to buffet businesses the length and breadth of Britain according to analysis by Interpath Advisory The research found that August (traditionally the quietest month for insolvency. appointments) saw the highest monthly number of administrations since March…

The Student Loans Company appoints new CEO

13th October 2022 Appointments | #appointment

The Student Loans Company (SLC) has appointed Chris Larmer as its new Chief Executive (CEO). Currently Executive Director, Operations, he will replace Paula Sussex, who leaves the organisation at the end of the year. Larmer has spent more than 30 years in the financial services sector. He joined SLC from the Co-operative Bank where he…

Winding Up Petitions figures dramatically increase

13th October 2022 Business | #insolvency

New analysis of insolvency statistics has indicated that the HMRC is becoming increasingly aggressive when it comes to issuing Winding Up Petitions according to ReSolve. Winding Up Petitions are a tactic of last resort to claim back monies owed and could be seen as a draconian move, giving businesses a short period to repay debts…

Three quarters of consumers concerned about funds for festive shopping period

13th October 2022 Consumer Collections | #spend

Almost three-quarters of consumers are concerned about having enough funds to manage the festive shopping period, according to a new report from fintech platform Trust Payments. The survey of 2,000 residents in the UK to find out their spending habits, purchase patterns and financial concerns found that not only is the festive season a concern…

Credit card cash withdrawal figures increase

13th October 2022 Credit Cards | #credit cards

Credit card use by consumers to withdraw cash has increased steadily in the past three months according to latest analysis by FICO. The figures showed that card usage increased by 6.7% and 3.4% in July. Average total sales were £790 in June and July and £810 in August a more than 14 percent increase year…

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