The Metropolitan Police Service and money transfer provider Western Union have joined forces to launch an initiative to crack down on high volume fraud.The initiative, which is supported by the Association of Chief Police Officers, aims to cut down on the 1bn lost every year through fraud. Operating under the umbrella of Operation Sterling, the MPS’ economic and specialist crime directorate has identified a growing threat to the British public. High volume fraud is the generic term used for all the speculative low level frauds directly targeted at members of the public. Brokers were recently warned by fraud prevention specialist Haymarket Management Services to bolster their systems or risk being the victim of organised crime. Detailed exclusively in Mortgage Strategy recently, top of Haymarket’s risk list are those companies failing to properly dispose of confidential papers, which are often screwed up and thrown in the bin. With criminals regularly targeting firms and trawling through their garbage, such lax disposal methods leave advisers open not only to breaching the Data Protection Act but also to reputational risk from subsequent actions against their clients.
HBOS is planning a major charm offensive over the next 12 months that will see BM Solutions pay advisers for further advances, TMB attack the packaging market through new products and better proc fees and Bank of Scotland concentrate on the high net worth lending market.These plans were revealed by Nigel Stockton, director of HBOS […]
Investing in residential property through a self invested personal pension will only be of interest to few people, Landlord Mortgages claims. Managing director Lee Grandin says: “It is too costly for most people so I don’t think SIPPs will have the monumental effect on the property market some are predicting.”
During the last few weeks, a number of building societies have drastically reduced the minimum opening balance required to open some of their accounts.Rachel Thrussell, head of savings at Moneyfacts.co.uk, says: The savings market has become increasingly competitive over the last couple of years, and even more so recently with some of the high street […]
Gross mortgage lending increased by 4.3% to an estimated 28.1bn in September, up from 26.9bn in August, according to the latest data from the Council of Mortgage Lenders. This figure is one of the highest monthly lending figures on record, and 11% more than the 25.3bn of lending in September 2004.CML say that since the […]
Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]
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