The Banking Code specifies that if a bank customer becomes a victim of fraud then they should be refunded any money that they have lost as a result of fraud, so long as the bank is fully satisfied that the reason for the fraud was not the result of the victim’s negligence. Negligence in this [...]

The Financial Services Authority (FSA) has revealed that mortgage brokers are offering loans that they know are unaffordable and willingly letting customers get away with giving false information about exactly how much they are actually earning. It has been three years since the FSA took over regulation of the mortgage market and it is now [...]

It has been announced that cyber-fraud is costing online retailers an estimated 580 million pounds per year.  This figure is estimated to increase three-fold over the next three years.  With nearly two-thirds of online retailers being affected by Internet fraud many retailers are becoming concerned over the prospect of being hit by fraud. Figures suggest [...]

A TIMES report recently shed light on consumer’s ability to make their rights heard by banks, and reclaim thousands of pounds in unwarranted and often illegal bank charges. The report claims that a bank customer, Declan Purcell, whose bank refused to refund thousands of pounds in charges, sent the bailiffs. Debt collectors, hired by Declan [...]

Experian has published its Victims of Fraud Dossier. The study analysed the experiences of  4,000 fraud victims. The victims of fraud were split equally between male and female, with more than half of all victims falling into the 30 to 50 age group. Experian’s research shows that the wealthiest and most successful homeowners are among [...]

At the start of Identity Fraud Prevention Week, Smile has published ten tips to help people prevent identity fraud. That crime is on the rise, with one in four adults either having been a victim or knowing someone that has. The tips are: Check bank statements to see if there is anything strange and contact [...]

From the end of September 2006, people who make cheques out only to a bank or building society may have their cheques declined. Banks and building societies now suggest that the name of the beneficiary and their account details should also be included. This is part of a series of measures to combat fraud. Including [...]