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.
Banks to appeal overdraft charges decision
Banks are today expected to formally challenge the recent High Court ruling which cleared the way for the Office of Fair Trading (OFT) to investigate overdraft charges. The High Court has ruled that the OFT can scrutinise the charges levied by bank accounts providers when their customers go overdrawn or when their cheques bounce. However, at a case management meeting between the two parties today,...Read More
Brits shunning financial advice
Over half the population of the UK have never taken advantage of the financial advice on offer to them with products such as current accounts.Research conducted by Zurich has found that as many as 84 per cent of 18 to 24-year-olds have never sought financial advice, while 48 per cent of those married or bringing up children also confessed to going it alone with money issues.Regionally, it was foun...Read More
Are we seeing the emergence of a new guard in the UK banking sector?
As many of the old guard continue to be forced out of office by various banking shareholder groups a number of analysts believe that we are on the verge of a new dawn for the UK banking sector. However, with such figures as Sir Victor Blank and Sir Fred Goodwin to name but two now forcefully ejected from their office there is a concern that the vast array of experience and knowledge gathered by th...Read More
Could Lloyds bank withstand a 1980s style recession?
As the UK government looks ready to give the green light for a rescue package for Lloyds Bank many people are wondering whether the company is strong enough to withstand a 1980s style recession. Commonly known as the "U" shaped recession this is the worst type of economic slowdown which bottoms out and bounces along the bottom for some time before recovering. Businesses struggle, unemployment goes...Read More
Young people more likely to be victims of fraud
05/01/2014 The British Bankers Association (BBA) has claimed that people under the age of 25 are more vulnerable to money transfer scams than any other age group. BBA, a banking trade body, conducted research which showed that one in six people aged 18 to 25 years would transfer money into a “safe account” if instructed to. Banks would never suggest a transaction of this kind, and woul...Read More