Cifas, has released a new report detailing the fraud trends from over 325,000 fraud cases recorded in 2016. The data, from 387 organisations, including many major UK brands, is one of the most comprehensive pictures of fraud and fraudulent attempts made in the UK. Key findings from the Cifas’ annual report Fraudscape include: Over 325,000…

Research from Equifax has revealed that 60% of consumers think that fewer than three security steps, including passwords, card readers or letters from a memorable word, are insufficient to assure their bank account is secure and not accessible by other people. The online survey, conducted by YouGov, found just over a fifth of the British…

The Bank of England’s latest money and credit statistics have revealed that mortgage approvals have fallen to a six month low. The statistics also show an increase in consumer debts such as credit cards and loans. The Bank of England’s figures for March 2017 show consumer credit increased by 10.2% in the year to March, to…

Nava has announced its appointment of Equifax to support the underwriting of unsecured personal loans for its UK borrowers. Nava has integrated Equifax solutions with its existing underwriting and risk management software, to support its credit analytics, credit scoring and applicant ratings. Nava is a next generation consumer lending platform due to launch later this…

Families in Britain who are struggling financially are increasingly becoming prime targets of financial fraud, according to new research from Experian. This group, made up of more than 4 million people in the UK, have experienced the highest growth rate in fraud between 2014 and 2016. Of all the fraudulent credit applications made using an…

The Central Bank of Ireland has fined Allied Irish Banks,(‘AIB’) €2,275,000 and reprimanded it for six breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010. All six breaches have been admitted by AIB. The Central Bank identified six breaches of the CJA 2010 as a result of significant failures in AIB’s anti‐money…

Loan guarantor provider TrustTwo has announced a deal with Callcredit Information Group, to access its credit risk, affordability and ID verification solutions. TrustTwo offers consumers who find it difficult to obtain credit on their own, a competitively priced alternative to meet their financial needs. Access to Callcredit’s Callvalidate, CallReport and Affordability Report services helps to…

Is the motor finance market in 2017 heading in the same direction as the US Sub-prime mortgage market in 2007? The size of the markets are very different, but there are certainly a number of similarities, which should prompt firms to review the adequacy of their risk controls, and assess their exposure. In particular: The…

Over two thirds (69%) of organisations prioritise risk management and compliance over customer experience and operational responsiveness, according to a study from Callcredit Information Group. The research, part of Callcredit’s New Affordability report, asked UK risk and customer experience managers about their attitudes towards affordability assessments. It unearths the struggle experienced by many when it…

According to the National Crime Agency’s Strategic Cyber Industry Group, in its Cyber Crime Assessment report 2016, there is “A need for a stronger law enforcement and business partnership to fight cyber crime” In this article, Andrew Sheldon MSc, one of the UK’s leading experts in the field of digital forensics technology and application, explains how the…