Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has fined Santander UK £107,793,300 after it found serious and persistent gaps in its anti-money laundering (AML) controls, affecting its Business Banking customers. An investigation found that between 31st December 2012 and 18th October 2017, Santander failed to properly oversee and manage its AML systems, which significantly impacted the account…
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Over three million low-income households have said they have not been able to keep their home warm because they aren’t able to afford it as dangerously cold weather sets in according to new research by the Joseph Rowntree Foundation (JRF). JRF says plummeting temperatures terrify the hundreds of thousands of low-income households who can’t afford…
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Research by HSBC has found that the rising cost of living isn’t just hurting small firms’ bottom lines but is leading to a decline in wellbeing for business owners. One in four (26%) small business owners are reporting that cost of living pressures are causing a decline in their wellbeing. Businesses reported rising inflation was…
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The Consumer Council for Water (CCW) has urged that water companies must not add to the worries of households through poor service. CCW has responded to Ofwat’s annual water company performance report which sets out a number of areas where water companies are falling short of the standards customers expect. It highlights a fall in customer satisfaction,…
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New research by payment merchant, Cashflows has found that 20% of UK small and medium businesses (SMBs) are considering making redundancies to help contend with rising inflation. A further fifth (19%) have already cut staff. As the UK sinks further into recession, payment decision makers said they are considering a range of options to counteract…
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Half of all first-time buyers in the UK, and over a quarter of home movers who took out a mortgage in the third quarter of this year opted for a term of more than 30 years, according to UK Finance’s latest Household Finance Review. This compares with around a quarter of first-time buyers and fewer…
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The Payment Systems Regulator (PSR) has outlined the technical process that banks and building societies will have to follow as part of its new reporting requirement for authorised push payment (APP) scams. APP scams are a major problem in the UK. In the first half of this year, there were over 95,000 incidents of APP scams, with…
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Experian has today been recognised for its verification technology and solutions, achieving certification through the Government’s Digital Identity and Attributes Trust Framework (DIATF) The framework outlines the Government’s vision and rules for the future use of digital identities, with the ambition to make it easier and simpler for individuals to prove who they are using…
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