Am I at risk from identity theft?
Over the last few years the threat of ID theft in the UK and around the world has increased dramatically with more and more people now on the radar of the fraudsters and scammers. However, the vast majority of people who may be at risk from identity theft are still unaware of problems which may await them in the future. So are you at risk of identity theft?
There is no doubt that the introduction of the Internet to many homes and businesses around the world has increased the potential market for identity theft. Each of us is just a click away from a potentially fraudulent e-mail or fraudulent contact via a website. We all need to be aware of the risks, retain control of our confidential information and ensure that we do not give information to unknown third parties.
Many of the scams appearing at the moment are financial offers and financial advice which are literally too good to be true. If you have not requested any financial advice or neither inquired about a financial product then why would you entertain anybody who cold calls you? There is no doubt that the fraudsters have taken advantage of the economic situation to maximise their potential victim base.
Has the Dunfermline Building Society been sold short?
Despite revelations that the Dunfermline Building Society is about to report a £20 million plus loss for the current year there would appear to be severe anger within the company's halls of power. While there is no doubt, if the financial information in the public domain is correct, that the building society has come under severe financial pressure of late, there are concerns about the actions of...Read More
Simple mistakes which are handing money to the banking industry
In these times of economic concerns it is vital that the UK public review their banking arrangements on a regular basis and ensure they are getting value for money and services which they actually require. While there are a number of common errors which increase the overall cost of UK banking services, we would like to highlight the following issues: -
Royal Bank of Scotland to be scaled down
This week will see plans unveiled for the substantial scaling down of the Royal Bank of Scotland banking operations. Over the next 3 to 5 years it is expected that 25% of the balance sheet will disappear as the group returns to basics for future stability. The banking operation will also see up to £300 billion of potentially toxic investments moved into its separate operation which will be wound...Read More
FCA could probe ‘teaser’ rates
The Financial Conduct Authority (FCA) has hinted that it could launch an investigation into ‘teaser’ rates which could lead to action being taken against companies who mislead consumers. Teaser rates are those that lure customers to a product, such as a cash Isa, with higher initial interest rates. However these are only introductory rates, sometimes containing a first year bonus, and will...Read More
Should there be a commercial bank owned by the government in the longer term?
As the UK government continues to hold significant stakes in the likes of Lloyds TSB and Royal Bank of Scotland there is a growing debate as to whether the UK authorities should operate a majority controlled bank in the UK commercial sector. The ability to potentially lead from the front has attracted the attention of many MPs and regulators although there are a number of issues such as conflicts...Read More