Credit, Collections & Insolvency News
UK fraud prevention service, Cifas has released a new report identifying and detailing the fraud trends from over 300,000 cases of fraudulent conduct recorded in 2017. The data, from 306 organisations, including many major UK brands, is one of the most comprehensive pictures of fraud and fraudulent attempts in the UK. Although there has been…
Read more
Mortgage lending for first-time buyers, home movers and remortgages increased in February 2018 compared to the previous year according to UK Finance’s latest mortgage trends. Total homeowner purchases, which combine both home movers and first-time buyers, reached 50,000, the highest level for February since 2007. There were 25,200 first-time buyer mortgages completed in February 2018, some…
Read more
A third of millennials could be forced to rent in retirement, according to a report from the Resolution Foundation. Up to half of that generation could also be renting into their 40s, and around 40 percent are renting at the age of 30. A Resolution Foundation statement says: “Our estimates suggest that if recent conditions…
Read more
The proliferation of new payment methods, e-wallets, and blockchain cryptocurrencies has allowed cheap and rapid payments for everything from holiday cash to business to business transfers. However, this boon is part and parcel of the new ‘trust economy’ and it is not risk-free. Businesses will have to intelligently respond to the increased hazards posed by…
Read more
Millions of consumers looking to apply for a mortgage, credit, a new mobile phone contract, or even a better utility deal, risk being rejected because of false errors on their credit reports according to research by Amigo Loans. The UK’s largest guarantor lender’s latest research has found that 42% of people who check their credit…
Read more
The availability of consumer credit dropped “significantly” in the first quarter of 2018, according to a survey of credit conditions published by the Bank of England. The Credit Conditions Survey asks banks and building societies about the past three months and the next three months as part of the Bank’s role in maintaining financial stability. The Bank…
Read more
The Credit Services Association (CSA) is concerned that new guidelines for debt advisors could keep customers in debt for longer by failing to reflect their true financial position, and in the worst case push them into unnecessary and potentially damaging insolvency. The CSA believes that the revised guidelines – presented by the Money Advice Service…
Read more
Zopa has announced a governance restructure in advance of launching its next-generation bank. The re-structure will establish separate boards for the Zopa P2P business, proposed bank (subject to banking licence approval) and Group in order to facilitate the increasing scale of the business, ensure good corporate governance and protect the interests of its customers. The…
Read moreThe number of fines handed out for money laundering and terrorist financing rule breaches has fallen 20 percent in the last year as tougher enforcement delivers a wake-up call, anti-money laundering and Big Data specialist Fortytwo Data reveals today. It follows record enforcement in 2015/16 when 1,170 professionals – including lawyers, accountants and those in…
Read more
Two new appointments have been made at iVendi. Alex Park joins as a Data Engineer, have worked previously with CAPGemini as a big data consultant on a number of high profile, secure data projects. Whilst Michael Brown has been appointed as a Data Scientist, having had previous experience for the Co-op Bank in a similar role within…
Read moreCriminals are launching more online attacks on UK businesses than ever before, it has been revealed in a new report by The National Cyber Security Centre. The report details some of the biggest cyber attacks from the last year and notes that risks to UK businesses continue to grow. Emerging threats are also highlighted, such…
Read more
The Credit Services Association (CSA), has announced the first of the major sponsors for the 2018 UK Credit and Collections Conference (UKCCC), which this year moves to Crowne Plaza, Stratford Upon Avon. Conexus Recovery and Field Services, which has clients across the banking, utilities, retail and debt purchasing sectors, is returning as a sponsor and…
Read more
The Financial Conduct Authority (FCA) has published its business plan for 2018/19 which sets out the key priorities for the coming year. The FCA says the priorities in this year’s business plan reflect the high level of resource needed to dedicate to European Union (EU) withdrawal, given its impact both on our regulation and the…
Read more