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Latest Finance and Business News

Government saves £300m in two years by preventing fraud and error.

The government’s national Fraud Initiative (NFI) has saved over £300 million in taxpayers money, in a two year period. Chloe Smith, Minister for the Constitution, has announced over £300 million in savings, made from clamping down on fraud and error. “We are determined to build a fairer society and stopping a small group of unscrupulous people, who break the law, will help us achieve this”.

Over the last two years, NFI has saved over £300 million in taxpayers money, the equivalent of the annual salary for 7,843 full time … Read more

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Another Successful Claim

Here at Praetorian Legal, we have the pleasure of helping many clients end their nightmare timeshare experiences and helping them reclaim money for contracts that were mis-sold to them. It is extremely rewarding to be able to help so many clients, who more often than not have been through years of financial hardship, worry and stress.

Today, we have the pleasure of sharing with you, yet another successful claim for compensation for one of our lovely clients, who has received a settlement of £5,949.99.

Our client originally purchased their timeshare in the 90’s with Club Infiniti and for many years … Read more

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Another Successful Claim

Praetorian Legal have the pleasure of helping over 6,500 clients terminate their timeshare burdens, which often have caused years of financial hardship and stress. It is extremely rewarding to be able to help so many people, who more often than not have been through some thoroughly harrowing experiences.

Being able to provide these clients with a resolution and a successful claim is why we strive so hard to help owners navigate their way out of the Timeshare trap.

We have the pleasure of sharing with you yet another successful claim for compensation for one of our clients who has received … Read more

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Financial Ombudsman Service Tells Banks To ‘Stop Blaming Victims’ !

In their latest newsletter, the Financial Ombudsman Service (FOS) has warned banks to treat victims of financial fraud more fairly, instead of assuming the victim was grossly negligent and to blame.

FOS see thousands of complaints from customers, who have had money stolen from their accounts, and assesses cases where the bank and customer both say they are not responsible for the loss.

Often victims have had their life savings stolen in sophisticated scams and to make matters worse, the banks often refuse to reimburse their customers when this happens. As state-of-art scams become more prevalent and more convincing, the … Read more

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Scams We Should All Be On The Lookout For

Here are just some of the scams we should be on the lookout for.

Police are warning people over doorstep scammers who pose as ex-offenders. The scam involves people posing as ex-offenders going door to door selling items and Greater Manchester Police force are so concerned they have issued a warning. Bogus sellers are posing as reformed criminals and targeting homes in and around Greater Manchester.

Scammers have been visiting homes and telling residents that they are working as part of a probation service scheme, officers say there is no such scheme and have warned residents not to answer the … Read more

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Crackdown on Fraud must target new generation of online scams.

As people are becoming more and more aware of the types of scams out there, scammers are having to create new ones, to replace the old ones. We are all aware of Phising but have you heard about Vishing, Spoofing, Twishing and Smishing ?

Neither had we, but these are just some of the digital-age scams financial investigations unit’s all over the country are looking at. Here are some of the scams to look out for.

First there was Phishing, where fraudsters send out spoof emails in an attempt to steal personal information, such as passwords and banks … Read more

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The latest headlines from the timeshare industry.

Marriott and Starwood Merge for a colossal rebrand.
The merger, which was completed on 1 August, has created the largest portfolio, with 110 Million members and over 6,500 hotels, in 127 countries and 29 brands. They are taking all of these members and brands and combining them into one. This single brand is yet to be named. The company announced their loyalty program will begin in August and will remain in place until 2019 when they change the name. Members have been advised that nothing will change immediately but everyone will be kept informed. A spokesperson for the group said … Read more

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Holidaymakers be warned, timeshare scams haven’t gone away !

Trading Standards are warning holidaymakers to be on alert whilst traveling abroad, for salespeople pressuring people into buying timeshares and holiday products, which could lead to people being parted with thousands of pounds of their hard earned cash.

Trading standards have seen a growing number of complaints from holidaymakers, regarding timeshare sales, holiday clubs, timeshare resale and timeshare exit companies. The watchdog is warning consumers not to let their guard down.  Warwickshire County Councillor, Andy Crump said: “Trading Standards are concerned that holidaymakers are still being approached whilst abroad and enticed by offers of further holiday accommodation opportunities, to … Read more

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Rise In Lenders Devaluing Homes.

Down valuation is on the rise and involves lenders valuing your future home at a significantly lower price, when in actuality it is worth thousands more. It counts for 1 in 5 property sales compared to 2 years ago, when this was just 1 in 20. It leaves buyers having to find thousands of pounds or face losing their property.

This rise is the highest it has been since the UK’s financial crash in 2008. Emoov’s chief exec, Russell Quirk said he believed the problem is due to surveyors underestimating the value to “cover their backs” when dealing with the … Read more

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American Timeshare Fraudster Arrested In The Philippines

An American telemarketer wanted in the US for allegedly committing $6 Million worth of fraud, has been caught, after 6 years on the run.

 

Osvaldo Gonzales was initially arrested by authorities in the Philippines on suspicion of domestic violence. As Gonzales was not a permanent resident in the Philippines, authorities checked records held by the National Bureau Of Investigations. This showed he was wanted in the US for wire fraud.

Wire fraud is a crime in which a person concocts a scheme to defraud or obtain money based on false representation or promises. This criminal act is committed using … Read more

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