A report by Action Fraud, the national fraud reporting centre, has revealed more than 15,000 people have been the victims of fraud during the first six months of the year.
The majority of the cases were online shopping and auction frauds and advance fee frauds – where services were not delivered.
However, “romance” frauds (where fraudsters gained [...]
The financial world was in shock over the weekend following the decision of the US Securities and Exchange Commission (SEC) to charge Goldman Sachs and one of its vice presidents with fraud.
The Wall Street bank allegedly sold investors down the river by “misstating and omitting key facts” about a financial product tied to US sub-prime [...]
The UK Cards Association has today revealed a fall in credit and debit card fraud – partly due to the introduction of chip-and-pin.
According to the Association, fraud losses on UK credit and debit cards totalled £440.3 million in 2009 – a fall of 28% compared with 2008 and the first annual decline since 2006.
While it [...]
The National Fraud Authority (NFA) has revealed the extent to which fraud is having on the UK economy.
According to the NFA’s figures, fraud (including scams, online theft, insurance cheats and tax fraud) is costing the economy £30 billion a year – the equivalent of £621 per adult in the UK.
The figures have resulted in [...]
An investigation is underway at Kaupthing – the Icelandic bank which collapsed last autumn.
Kaupthing, which was once Iceland’s largest bank, collapsed along with Glitnir and Landsbanki at the height of the banking crisis last year and all three banks had to be nationalised.
This led the Iceland Government to seek billions of dollars worth of aid [...]
Mortgage application fraud is increasing in response to today’s tight lending criteria.
The Council of Mortgage Lenders (CML) has reported a rise in the number of application forms containing false information, with income levels the commonest area for falsehood.
Applicants are also failing to disclose all existing financial commitments, such as credit card debt and personal loans.
According [...]