The government has admitted for the first time that problems with Universal Credit could be part of the reason for a massive surge in the use of food banks across the country. The government’s controversial flagship benefits reform has been continually criticised for delays in paying benefits to claimants in a timely manner since it …
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Cyber criminals are robbing UK consumers of an average £190,000 a day claims the country’s top fraud busting team. Action Fraud – headed by the City Of London Police – said the rate of crime has soared by 24% in just six months. Hacked Victims lost £34.6 million in the six months from April and …
A system designed to make payments safer could be delayed by up to 18 months because more time is needed for banks to upgrade their IT systems. Confirmation of Payee has been designed to stop millions of pounds of fraud by simply making the correct name of the person you are paying a requirement for …
A new government task force has been set up to fight economic crime which is costing the UK £14 billion a year. Jointly headed by Home Secretary Sajid Javid and Chancellor Of The Exchequer Philip Hammond, the new unit will include a new economic crime strategic board made up of the chief executives of Britain’s …
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An influential MP has branded Lloyds’ decision to raise its overdraft charges ahead of a clampdown later this year as ’unacceptable’.
Roll-out of the controversial Universal Credit to three million people has been postponed by Work and Pensions Secretary Amber Rudd. MPs were due to take a vote on extending the benefit to three million recipients in the next few weeks, but that vote has been pushed back and now they will only be asked to …
Britain’s unsecured debt mountain has reached a new record of £428 billion, according to research done by the TUC. The investigation showed that non-mortgage debt rose by an average of £886 per household to £15,385. Highest ever The TUC arrived at its figure by adding up all forms of unsecured lending including credit cards, store …
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The energy price cap which came into force on New Year’s Day is expected to save millions of people across the UK £76 a year on their energy bills. But consumer groups claim householders could save even more money by switching their supplier. Typical Regulator Ofgem says the new cap means that a dual fuel …
Experts say Britain is in the grip of a debt crisis with millions of people struggling to pay their day to day bills. Europe’s largest debt collector Intrum says more than a quarter of Britons don’t have their finances under control with parents struggling to make ends meet. Falling into debt Debt charity StepChange reported …
Plans unveiled by energy regulator Ofgem could cut £45 a year from energy bills across the country. The strategy involves capping the amount of money suppliers can pay their investors, reducing borrowing costs and a range of measures already announced to reform the way the network charges are passed on to consumers. Rate of returns …
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