FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

Fraud and begging on the increase in the UK

As we covered in one of our earlier articles, the UK police have highlighted the fact that some beggars in the UK are bringing in around £200 a night which equates to a £73,000 a year tax free income. We have also seen a significant increase in fraudulent activity in UK with more and more people becoming more and more desperate and taking chances with their personal details and money.



The matter of insurance fraud, whereby people claim on their insurance for equipment and items which have been "stolen or damaged", or in many cases never existed is also becoming more commonplace. Despite various attempts by the insurance companies to crack down on insurance fraud it continues to be a major problem in the UK. It is well known that a large proportion of UK motor insurance premiums are made up of payments to cover fraud and the costs associated with those who drive without insurance.



Desperation in the UK has reached crisis point with many people unable to cover their monthly outgoings and literally struggling to survive. This has led to a large increase in demand for doorstep lenders, although with rates approaching 2500% (as seen at a recent court case) this is certainly not the answer.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue