Credit, Collections & Insolvency News
Consumers are being warned of fraudsters impersonating the Financial Conduct Authority (FCA), as the regulator revealed it has received almost 5,000 fake FCA scam reports in the first half of 2025. Scammers aim to steal money by getting people to hand over funds or sensitive information, such as bank account PINs and passwords. There have…
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Three connected debt collection companies, which kept more than £50,000 in client funds they collected on their behalf, have been shut down. Sunderland-based EDC Group NE Ltd, UK EDC Ltd and UK TCF Limited falsely presented themselves as professional agencies with decades of experience while taking money from both clients and their debtors. The companies…
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New data from Lloyds has shown that thousands of football fans have been scammed, with football fans are being urged to guard to against fraud when buying match tickets for the upcoming Premier League season . The data reveals that an estimated £2.5 million has been lost to football ticket fraud over the past two…
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A student from Northwest London has been sentenced at Southwark Crown Court to seven years in prison for the creation and selling of phishing kits, designed to help fraudsters steal money from victims. The sentencing follows investigation and arrest by specialist banking industry sponsored police unit, the Dedicated Card and Payment Crime Unit (DCPCU) who received…
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The Insolvency Service has announced ambitious and transformational plans to play a more prominent role in the fight against economic crime and be recognised as the UK’s leading authority in enforcing corporate and insolvency standards. The strategy commits the agency to broadening its remit, taking robust action against criminals who defraud businesses and taxpayers, and…
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A criminal has been sentenced at Inner London Crown Court to over a year in prison for operating a SMS Blaster to conduct a mass smishing campaign against victims with the intent to harvest their personal details to be used in fraud. The sentencing follows an investigation and arrest by the Dedicated Card and Payment…
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One in two (50%) consumers have reported a fraud attempt had been made against them in the last three months, with many even reporting to falling victim according to new research by TransUnion. The survey found that 14% of UK respondents reported they had lost money to fraud in the last year alone, through various…
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The founder of a football betting investment firm has been banned as a director after his company went into administration owing investors more than £10 million. Former television presenter Alan Bentley allowed his Bentley Global (UK) Limited company to obtain more than £1.5 million from investors during late 2019 and the first half of 2020,…
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The Civil Enforcement Association (CIVEA) has identified a 300% increase in reports of people impersonating enforcement agents and using aggressive tactics to scare victims into paying fictitious debts. CIVEA was notified of 26 ‘fake bailiff’ reports in the first quarter of the year (January – March 2025), almost equal to the amount received during the…
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Britain’s financial sector reported 3.31 million fraud cases in 2024, marking a 12% increase from the previous year, according to latest UK Finance data. The surge resulted in £1.17 billion being stolen, unchanged from 2023. Fraud accounts for 41% of all reported crime in the country. Banks prevented £1.45 billion of unauthorised fraud through advanced…
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Global business and technology leaders are already seeing benefits from the use of AI and automation, with over three-quarters (78%) reporting measurable improvements in the ability to detect fraud and manage risk after their organisation’s integration of the technology, according to research by FIS in collaboration with Oxford Economics. To combat this disharmony, businesses across…
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A car dealer from Kent who now lives in Spain has been banned from being a company director for 12 years after his company received a second £45,000 Covid Bounce Back loan it was not entitled to. Joseph Harrison was the director of South East Commercials Ltd, a used car sales dealership in Kent before…
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The Government has issued new powers to the Department of Work and Pensions (DWP), which will allow the DWP to recover money directly from the bank accounts of fraudsters who can repay but are wilfully gaming the system in order not to, passed an important stage in the House of Commons as it had its…
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