A survey of 100 leading global credit experts* has revealed nearly eight out of ten (77%) believe Open Banking will make the market for credit more competitive, with only 6% believing the initiative would make it less competitive. The findings come from the recent Credit Scoring and Credit Control XVI Conference at University of Edinburgh…

Recent research carried out by Cifas, the UK’s leading fraud prevention service, has revealed that falsely claiming Single Person Discount is the third most prevalent type of fraudulent activity carried out by British adults. Single Person Discount is where a person claims to live in a single-person household in order to receive a Council Tax…

The Federation of Small Businesses (FSB) is calling on the Government to tackle crime against small businesses as a priority and help to plug the billions that are being lost in the economy every year as a result. Hiring new police officers will be crucial to tackling business crime in England and Wales and making…

A new OnePoll survey of 2,000 UK adults commissioned by credit experts TotallyMoney has shown that many people don’t fully understand the cover they get through their credit card. If the item you pay for is worth over £100, but less than £30,000, you are covered by Section 75 if you make any of that…

More millennials are falling victim to scams designed to trick them into handing over cash to fraudsters than any other age group, according to new data from Lloyds Bank. There has been just under a four-fold increase in the number of 18-34 year-olds being caught out by impersonation scams in the past 12 months,* who…

New data from Citizens Advice shows 49% of benefit claimants affected by the benefits freeze have struggled to meet essential costs such as rent, household bills and food while 40% have lost sleep due to money worries in the past 12 months. The findings are worse for Universal Credit claimants, with over half (55%) having…

Here is an overview of The Money Charity’s latest statistics for August 2019: Personal debt in the UK People in the UK owed £1,642 billion at the end of June 2019. This is up from £1,596 billion at the end of June 2018, an extra £887 per UK adult over the year. The average total…

People’s everyday behaviour is leaving them vulnerable to fraud, according to research from Equifax, the consumer and business insights expert. Equifax’s online survey of over 2,000 people found that nearly three quarters (74%) of consumers carry at least two debit or credit cards in their purse or wallet, and nearly one in four (38%) carry…

Spending on UK credit cards hit an all-time high in July according to new figures from the trade body for UK banking and financial services UK Finance The figures show credit card spending totalled £12 billion in July – the highest on record, an increase of 8.2% on July 2018. The findings may fuel fears…

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