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.
ID theft costs £2.7 billion a year
In a startling revelation it has been revealed that the cost of cleaning up ID theft in UK has soured to around £2.7 billion a year with some issues taking up to 200 hours to unwind. It has also been revealed that the average ID theft now nets criminals in excess of £1000 and there are real concerns this figure is set to spiral higher in the short to medium term. It seems that criminals are now...Read More
Royal Bank of Scotland set to refund overdraft fees
The Royal Bank of Scotland is the first of the main UK banks to suggest that it will proactively refund overdraft fees if the banking sector loses the latest test case. While the outcome of the test case has yet to be announced, there is speculation that the banks may well come under severe pressure to reimburse those who have been charged "illegal" overdraft fees. This is a situation which has no...Read More
Contactless card limit increases to £30
01/09/2015 The contactless card limit was increased to £30 over the weekend, meaning shoppers will now be able to spend up to £30 on their card without using their pin number. The contactless limit has been increased from £20 after the UK saw a rise in the number of people paying for purchases with contactless. Transactions for the first half of this year totalled £2.5billion, compared...Read More
Co-operative Bank launches talking ATMs
The Co-operative bank has followed in the footsteps of Barclays, by installing talking cash machines on the streets of the UK. The machines will be aimed at helping blind and partially sighted consumers operate the ATMs, by providing an automated service as well as clearer, high resolution screens. 400 of the units have initially been installed by The Co-operative, while a further 2000 are expe...Read More
Online bank accounts recommended for savers
Savers looking to secure a high rate of interest for their cash should consider an online savings account, according to Halifax. Figures from payments company Apacs show that the number of adults using online banking increased by 174 per cent between 2001 and 2006, bringing the number of users from 6.2 million to 17 million. The appeal of the accounts is in part down to their convenience, but they...Read More