Over a quarter (26%) of consumers have been unable to pay a household bill, as the statement amount was higher than expected, according to a new report. This figure has jumped by 10% since similar research was completed in 2016. Ongoing price hikes across a range of sectors – including gas, electricity and broadband – in…

Yahoo! UK Services Limited has been fined £250,000 by the Information Commissioner’s Office (ICO) following a cyber-attack in November 2014. The incident was publicly disclosed in September 2016, almost two years after it had taken place. Because of when the breach happened, the ICO’s investigation was carried out under the Data Protection Act 1998. The ICO said…

Dixons Carphone has announced that it has launched an investigation into unauthorised data access breach, The company says that as part of a review of our systems and data, it has determined that there has been unauthorised access to certain data held by the company. A promptly launched investigation has engaged leading cyber security experts and added extra…

Here is an overview of The Money Charity’s latest statistics for June 2018: Personal debt in the UK People in the UK owed £1.539 trillion at the end of April 2018. This is up from £1.535 trillion at the end of April 2017– an extra £949.30 per UK adult. Per adult in the UK that’s an average debt of…

New research from Scottish Widows has revealed that more than half (58%) of men in the UK with dependent children have no life insurance, meaning that just over 4.5 million dads are leaving their families in a precarious situation if the unforeseen were to happen.  Worryingly, this has increased by five percentage points compared with 2017,…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in April grew by 22%, compared with the same month last year. Credit card and personal loan new business together grew by 21% compared with April 2017, while retail store and online credit new business increased by 11%. Second…

Mobile current account provider Monese has announced that it has become an official member of CIFAS – the UK’S largest cross-sector fraud sharing organisation.  Alongside this partnership, Monese are building an in-house team of data scientists to develop sophisticated machine learning that can will catch financial crime absent of human intervention. Banks of all ages…

The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the full programme for this year’s UK Credit and Collections Conference (UKCCC), including a keynote address by Romana Pearson, Head of Consumer Credit at the Financial Conduct Authority (FCA). The conference is divided into morning and afternoon…

The Financial Conduct Authority (FCA) has fined Canara Bank £896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days. Financial services firms are required to maintain robust anti-money laundering (AML) systems and controls since they are at risk from those seeking to launder the proceeds of crime or…

Fico and Equifax have announced that they have launched a new risk and affordability decision Suite, which uses advanced predictive analytics to assess a consumer’s repayment risk as well as their ability to afford new credit. The partnership was announced at the Money20/20 Europe conference in Amsterdam. The Risk and Affordability Decision Suite is designed…

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