Credit, Collections & Insolvency News
The government’s plans to widen the job retention scheme to include part time working could see widespread abuse and fraud, according to analysis. by Blick Rothenberg. With the widening of the Job Retention Scheme (JRS) to include part-time working, the temptation for employers to exaggerate claims, especially in times when they need cash desperately, is…
Read more
One in four business leaders unaware of anti-money laundering (AML) regulation changes according to new research by SmartSearch. More than one in four (26%) business leaders admit they have no knowledge of recent changes to money laundering regulation and what they need to do to remain compliant. The research has revealed the extent of business…
Read more
Fraud prevention service Cifas has highlighted a scam whereby criminals posing as debt collectors are targeting bereaved relatives Fraudsters are increasingly targeting people recently bereaved. These callous scammers are purporting to be debt collectors recovering debts incurred by the deceased, and pressurising their relatives to pay the debt. Fraudsters are also contacting relatives to inform…
Read more
Fraud prevention service has highlighted some of the latest coronavirus scams and warned that the public need to stay vigilant of the ever-changing tactics that scammers are using to extract money and information. Business owners have recently been targeted by emails purporting to be from the Chief Executive of HMRC. Under the heading ‘HM Revenue…
Read more
Cifas, the UK’s leading fraud prevention service, is warning people working from home to be extra vigilant of fraud following a huge surge in coronavirus scams. The warning comes as Cifas sees a huge spike in online activity around coronavirus. On March 1st 2020 there were just 3,000 internet domains containing the phrase ‘coronavirus’, and…
Read more
Accounts payable teams have the power to halt the rise in fraud during the current crisis according to FISCAL Technologies. The company says tackling financial fraud is more important now than ever – the key is the ability to maintain order and efficiency The ongoing impact of the coronavirus outbreak has seen an increase in…
Read more
The Dedicated Card and Payment Crime Unit (DCPCU) targets the organised criminal gangs responsible for fraud. It is made up of officers from the City of London Police and the Metropolitan Police Service as well as banking industry fraud investigators and support staff from UK Finance. Over the past year, the unit has worked in…
Read more
Over £100 million worth of fraud — often targeting vulnerable and elderly customers — has been prevented through the Banking Protocol, a UK-wide scheme that enables bank branch staff to spot potential fraud victims and request an immediate police response. The latest figures from UK Finance reveal that 16,462 calls have been made through the…
Read more
Half of UK workers say they wouldn’t store sensitive personal and commercial information in the cloud because of their concerns over security, according to a new report by Invu. The report says cloud security remains by far the biggest concern for businesses. Data back-up and the recovery of lost data was the second biggest concern,…
Read more
More than 100,000 UK businesses have a corporate structure so complicated it would take over half a day for them to complete anti-fraud checks, according to Experian analysis. Businesses are required to perform Know Your Customer (KYC) checks on their clients to ensure they are not involved in financial crime or fraud. Fraudsters can use…
Read more
The second Commercial Credit & Collections conference saw the themes of Brexit and technology within credit management discussed at an event hosted by Aon and CVR Global at last week’s (23rd January 2020) event held at the Leadenhall Building in London. Over 80 industry professionals from the commercial credit management sector attended the event. The…
Read moreThe value of alleged cybercrime cases reached over £1 billion in UK Courts in 2019, according to research by KPMG – showing fraudsters are becoming more persistent. Sophisticated cyber-crime combined with traditional old school frauds have pushed the value of alleged fraud cases hitting UK Courts in 2019 to over £1 billion. Fraudsters went back…
Read more
Business data, insights, analytics specialist, Graydon has won a prize for Outstanding Fraud Consultants at the inaugural Tackling Economic Crime Awards (TECAs) Graydon’s Business Intelligence Unit is responsible for investigating and detecting potentially fraudulent and suspect companies who have applied for trade credit. The unit was established over 20 years ago and is led by…
Read more