The Financial Ombudsman Service (FOS) has warned that scammers and con-men have ripped off £6 million from UK consumers in just three months. The total bill for the last 12 months was £775 million.
Overdraft charges from some of Britain’s top banks are more than 12.5 times higher than the interest on a payday loan claims a special report. The figures have outraged MPs with Tory MP Andrew Tyrie, chairman of the influential Treasury Select Committee, writing to the chief executives of 13 banks to ask how the fees …
Cybercrime, fraud and misuse of computers is on the rise according to new figures just released. Police have recorded an 8% increase in figures over the year to September, with 3.6 million cases of fraud and another 2 million cases of computer misuse.
Thousands of Britons are being hit hard by unauthorised overdraft fees of up to £225 a year. Research from the Competition and Markets Authority (CMA) says UK banks made more than £1.2 billion a year from such fees.
A shock report by the UK financial regulator says thousands of people have had claims for mis-selling packaged bank accounts wrongly rejected or received too little compensation from their bank. The report follows a thematic review on packaged bank accounts by the Financial Conduct Authority (FCA) which found 56% of those who complained received ‘an …
One of Britain’s top insurers has warned that an FCA probe into annuity sales from 2008 ‘could become like PPI for the life companies.’ Scottish Widows believe a review of annuity sales ordered by the Financial Conduct Authority (FCA) could produce a similar number of mis-selling claims to those received by the banks for PPI.
A report claims Britain’s high street banks are failing to deliver fair and transparent services to their customers. British customers responding to a survey by FIS Global said banks were ‘underperforming expectations’ in things like being able to trust the advice offered, the transparency of pricing across products and accounts, plus overall reliability.
Britain’s pensioners are being scammed out of millions of pounds by callous conmen who are deliberately targeting the frail and elderly, including those who have recently cashed in their pension pots and are looking for something to invest in. The fraudsters are posing as policemen and bank officials to persuade vulnerable people to hand out …
Packaged bank accounts have become the most complained about financial product in the UK after PPI. Latest available figures from the Financial Ombudsman Service (FOS) show 44,244 people complained they had been mis-sold their packaged account in the year to March 2016 – a 107% increase.
The Pensions Regulator (TPR) has warned thousands of people are at risk of losing their savings after being encouraged by the government to take out pension plans. The fear is that dozens of companies providing auto-enrolment pensions under the new scheme are ‘too small to survive.’