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.
People with overdrafts can switch bank accounts
22/05/2015 Many people with an overdraft on their current account believe they are unable to switch their account to a different provider, The UKs competition authority has found. Customers with an overdraft don’t think to look around for a better deal, as they mistakenly believe they are locked out of switching their current account. Many high street banks are happy to accept new custome...Read More
Savings providers fined for misleading marketing
17/06/2014 Credit Suisse and the Yorkshire Building Society have been fined by the Financial Conduct Authority (FCA) for the use of “misleading” marketing when promoting an investment product. Credit Suisse was fined £2.4m, whilst Yorkshire Building Society received a smaller fine of £1.5m. The financial services institutions, which both accepted the fines, were found to have promot...Read More
Bank charge case re-opens
Hundreds of thousands of bank customers will come closer to finding out whether or not they will be paid back their penalty fees this week.The High Court case looking into the charges, which are levied by banks for offences such as exceeding overdraft limits, is to hold a new three day hearing, starting today.Presiding judge, Mr Justice Andrew Smith, will then decide whether or not charges dating...Read More
Is it sensible to split the UK banking sector?
For many years the strength of the UK financial sector has been the very small number of large banking institutions which had very strong balance sheets and access to massive amounts of capital from the money markets. However, the UK government and the Bank of England would now appear to be looking towards a break-up of the likes of Lloyds bank, Royal Bank of Scotland and Northern Rock in order to...Read More
Who would benefit from a shakeup of the UK banking industry?
The Independent Commission on Banking is looking at ways to reduce the risk from banking to the overall UK economy and also to improve services. However, if the Independent Commission on Banking does take the controversial decision to split up investment banking and retail banking operations who would benefit? It is difficult to see how the consumer on the streets and businesses in the UK wou...Read More