Credit, Collections & Insolvency News
The Security Minister convened a meeting of the Joint Fraud Taskforce to discuss measures to tackle fraud including an online fraud charter. Representatives from across the private sector met at 10 Downing Street to update government on progress made to tackle fraud and protect the public from scams. The Security Minister, Tom Tugendhat, convened a…
Read more
Global digital identity specialist, GBG is warning that fraud in the UK is rapidly becoming industrialised, with 40% of businesses reporting known or suspected fraud attempts in the last 12 months. Globally, almost half (49%) of the businesses that reported fraud attempts say it has increased in the last year. At the same time, over…
Read more
Holiday fraudsters conned UK consumers out of more than £15 million in 2022, twice as much as the year before according to new research by Action Fraud Action Fraud said there had been a surge in the number of people being conned into paying for fake flights and accommodation bookings as more people sought cheaper…
Read more
The Civil Enforcement Association (CIVEA) has warned of a spate of scams using information from the Ministry of Justice to dupe people into paying money to fake enforcement firms. CIVEA, which represents civil enforcement agencies, has received 16 complaints this year from people who have paid fake fines to fraudsters posing as enforcement agents. This…
Read more
People in the UK lost £1.2bn to fraud in 2022, the equivalent of £2,300 every minute according to bank industry group UK Finance. UK Finance said around three million scams took place – slightly less than the previous year – with frauds involving payment cards being the most common. UK Finance said losses were not always…
Read more
The Government is to launch a new National Fraud Squad and expand a 2019 ban on pensions cold-calling to all financial products. As part of the crackdown, Britain’s intelligence agencies will work with new regional squads of police officers to find and stop scammers targeting Britons from abroad while the technology enabling criminals to mass…
Read more
New data published by TransUnion, shows that consumer over four in ten (43%) UK consumers who said they have been targeted by fraud were targeted by phishing in the period between September and December 2022. The data also showed that smashing, fraudulent text messages meant to trick you into revealing data (40%) and vishing fraudulent…
Read more
New UK Finance data has indicated that there were 45,367 cases of impersonation scams last year, costing £177.6 million. The research also found that only 51 per cent of people always check if a request for money or personal information is legitimate before responding. Impersonation scams take place when a criminal contacts you pretending to…
Read more
Latest research from fraud prevention service Cifas has revealed that identity fraud is now one of the biggest fraud threats to the public, with cases soaring by nearly a quarter over the last year. This alarming statistic is revealed in the latest publication of Fraudscape, which identifies and analyses the latest fraud trends based on…
Read more
The Government has announced a new crackdown to prevent illegal migrants from accessing bank accounts. The change will make it more difficult for unlawful migrants to access financial services is an important tool to help deter illegal migration by preventing people from working illegally and profiting from services they are not entitled to. Having access…
Read more
Around £21 billion has been lost by the Government due to fraud since the start of the pandemic, according to latest National Audit Office (NAO) data. The research also found that most public bodies do not know how much fraud they face and cannot demonstrate that they have the correct level of counter fraud resources.…
Read more
Fraud prevention service, Cifas has welcomed the launch of the new Economic Crime Plan and its commitment to reduce fraud and money laundering, but warns that excluding SMEs from the ‘failure to prevent’ fraud offence may leave them vulnerable to fraud. The plan places a greater focus on fraud, which includes greater prosecution and disruption of offenders.…
Read more
More than half of people in he UK say that they have been victims of a financial scam, with wealthier people most likely to have been targeted, according to the new research from Saltus. The latest Saltus Wealth Index Report surveyed more than 2,000 people in the UK and discovered that 51% had been victim to a financial…
Read more