7 May, 2007
While credit card fraud has recently moved to a higher level, many consumer groups are concerned that financial institutions are putting the speed of transactions over safety - cue the introduction of Touch-and Go payment cards.
A new style of payment card, which allows you to swipe your card next to an electronic reader, is being introduced in areas of London. The card is being backed by Visa and Mastercard, and while only accepted for payments of under £10, there is speculation that this may be the thin end of the wedge (prior to being opened up to higher value transactions).
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1 May, 2007
While many of the more traditional credit card and financial companies have come under pressure from the Authorities of late, changes to store card regulations are actually being actioned now.
From today, any retailer with a store card which has an APR in excess of 25% is required to warn customers that they may receive better rates elsewhere. The warning will be printed on the customer’s statement, ensuring clear visibility of the options available.
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21 Apr, 2007
In perhaps one of the largest confirmed cases of fraud in recent times, literally thousands of motorists have reported large scale unauthorised transfers from their bank accounts. Many of the motorists who have suffered are reporting their accounts being wiped out, in what is believed to be a scam masterminded by Sri Lankan fraudsters.
How Did This Happen?
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13 Apr, 2007
In what is seen by many as another nail in the coffin of the cheque book, ASDA superstores will not be accepting personal cheques from Monday 16th April. While the move has not been widely publicised, it was expected by many after the company announced a trial of the no-cheques policy in a small number of stores earlier this year.
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9 Apr, 2007
Uswitch.com have released a very interesting research document into the real cost of holiday spending, and the extra millions of pounds in fees which fall into the coffers of the main UK banks. Next time you spend money overseas, just remember this article!
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30 Mar, 2007
It has today been confirmed that TJX, the parent company of the TK Maxx retail brand of cut price designer wear, have been the subject of a sustained period of attack by hackers. It has been announced that details of at least 45.7 million credit and debit cards have been stolen over a 16 month period from July 2005.
The stolen information includes details of transactions as far back as December 2002, which is obviously causing great concern to current and historic customers of the group.
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