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 must do more to prevent ID theft, says regulator
Financial services firms have been urged to tighten up their security practices after a report uncovered a lax attitude to preventing identity theft. A survey of security at 39 firms conducted by the Financial Services Authority (FSA) found that around half provided no training for staff over preventing the theft of customers' details. In response, the FSA has called for banks and building societi...Read More
'Robin Hood' banker goes to jail
A "Robin Hood" bank worker diverted £7 million of his corporate clients' money to help out other businesses who were struggling financially, it has emerged.Benedict Hancock, 39, was sentenced to 18 months in jail at Blackfriars Crown Court for his false accounting.The court also heard that the majority of clients who had money transferred away from their accounts did not notice that it was missin...Read More
Government U-turn on post offices
The government has intentionally leaked plans for the UK Post Office network to the press this week amid signs that a massive U-turn is underway. After initially looking to downsize the Post Office, sell-off the more profitable areas and withdraw from many local communities, Lord Mandelson is believed to be pushing ahead with new plans to make the UK Post Office network a "mini community bank". So...Read More
When did you last move your bank account?
The vast majority of people in the UK are unlikely to have moved their bank accounts within the last decade and indeed many have remained with the same bank for most of their lives. However, while in the past it may have been a little difficult to transfer bank accounts, direct debits, etc, the situation has now changed and many websites now offer you the chance to move banks and they will look af...Read More
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