More than half of consumers (57%) would be happy to ditch all of their passwords and pins and replace them with biometric verification, according to new research from Equifax. The research also showed there is still widespread criticism towards current verification practices, with half of responders (50%) having given up on an online registration process…

Around 7,000 people across the UK are expected to be victims of credit card fraud this Cyber Monday, with about £6 million of transactions estimated to be vulnerable to fraud, according to comparethemarket.com. comparethemarket.com’s estimates are based on data from its Credit Card Fraud Index and assumptions around the uplift of online transactions on Cyber…

Millions of people have fallen victim to credit card fraudsters over the last year, according to new research by comparethemarket.com. Over a fifth (21%) of consumers have had to replace or cancel their credit card as a result of attempted fraud, equating to 11 million people nationwide. comparethemarket.com’s Credit Card Fraud Index found that in…

New analysis by Which? has found that banks are locking customers out of their accounts five times a week because of IT meltdowns. In the last year, the UK’s biggest banks were hit with a total of 265 systems failures. The consumer group, which looked at Financial Conduct Authority (FCA) figures from October 2018 to…

Comparison website, GoCompare has joined Cifas, as an official member. The membership builds on GoCompare’s existing efforts to tackle fraud, having joined as members of the Insurance Fraud Bureau (IFB) in May. The agreement will mean that GoCompare can check suspicious activity against data at point of quote and quickly receive an indication of whether…

The board of TSB has published an independent review of the bank’s 2018 migration to a new IT platform, which it commissioned from the law firm, Slaughter and May. The report has identified the issues behind an IT meltdown at TSB which left 1.9 million customers unable to access their accounts and cost the bank…

One in four (25%) online consumers have fallen victim to fraud on Black Friday or Cyber Monday, according to new research from secure payments solution Shieldpay. For those who have been victims of fraud on Black Friday or Cyber Monday with emails with lures of fake deals which tempt most people to fraudulent sites when…

A proposal to set up a fund to compensate victims of bank scams has been rejected by payments group Pay.UK. Pay UK says that there has been no industry consensus to finance a central fund. A voluntary code requiring banks to reimburse affected customers is funded to the end of December so from January it…

New research from TSB shows that a quarter (24%) of UK consumers who have shopped on Black Friday or Cyber Monday say they have experienced attempts at fraud during the weekend sales in the past. TSB’s research shows that only one in ten (14%) think about whether a website appears fraudulent when shopping in these…

Consumers are keen to use biometric verification in a wide range of circumstances from online shopping and banking to confirming their age at a pub and even voting in elections, according to new research from Equifax, the business and consumer insights expert. Almost three quarters (71%) would be happy to completely replace traditional security methods…

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