Credit, Collections & Insolvency News
The first biometric fingerprint credit card issued by a UK bank has begun its three-month national trial. NatWest is piloting cutting-edge, biometric fingerprint technology with 150 customers, in partnership with Mastercard and Gemalto, a Thales Company. The bank has previously piloted biometric debit cards, but this will be the first-time credit cards have been issued.…
Read more
New research has shown that more than half (63%) of UK consumers are worried about contactless fraud. The research, published by IDEX Biotmetrics ASA, revealed that the UK is now ready to welcome more secure payment methods. These methods include biometric payment authentication such as fingerprint scanning and voice recognition. In response to these findings,…
Read more
New figures from UK Finance show bank scam victims lost £207.5m in the first six months of this year to authorised push payment fraud – more than £1.1m a day. A total of 57,549 cases were recorded by banks – a 69% rise compared with the same period in 2018. Over the same period, £408…
Read more
Financial fraud has risen by 14% this year according to new data from Experian, with criminals turning their attention to younger people who have just bought their first home. The overall rise has been driven largely by an increase in debit and credit card fraud, which has risen by 60% in the first six months…
Read more
Lloyds Bank has announced that it has developed a cutting-edge new tool – built by experts in fraud prevention, software engineering and data science – to hunt down fraudsters before they have a chance to strike. Despite increased awareness in recent years, one in 10 adults say they have been the victim of a financial…
Read more
UK’s leading fraud prevention service, Cifas has revealed that mortgage fraud has seen a 5% increase in the first six months of 2019 compared to the last six months of 2018. The figures are released as part of the Cifas ‘Faces of Fraud’ campaign, which aims to highlight the fact that what some view as…
Read more
Parents and guardians are being urged to warn their children about the dangers of becoming a money mule, with figures revealing the number of 14-18-year olds misusing their bank accounts has risen by 73 per cent in two years. As part of the Don’t Be Fooled awareness campaign, over the coming weeks a number of…
Read moreRecent 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…
Read more
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…
Read more
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…
Read more
A new report from insurance specialist Gallagher finds that a significant proportion of UK SMEs are exposing themselves to severe and lasting impacts of a crisis incident, through lack of preparation, protocols protection and review. Crisis incidents, such as cyber-attacks, extortion, industrial espionage and terrorism, are costing UK SMEs billions of pounds a year. Furthermore,…
Read more
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…
Read more
The Financial Conduct Authority (FCA) has issued a warning about a ‘clone firm’ impersonating the free debt advice service National Debtline using the name ‘National Debt Helpline’ online. The warning is part of a wider issue of commercial firms impersonating legitimate debt advice charities. Three weeks ago the regulator issued a similar warning about a…
Read more