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Banks agree to compensate victims of sophisticated fraud

Some of the UK’s biggest banks have agreed to pay compensation to victims of bank transfer scams.

Until this new compensation scheme was announced this week, banks have refused to pay compensation if neither they nor the customer were to blame.

Victims of bank transfer scams have been left with nowhere to turn, when banks have refused their requests for refunds. And figures released in 2018, showed that consumers lost £92.9 million because of this type of fraud.

But now a group of bank’s including Barclays, HSBC. Lloyds and RBS, has agreed to contribute to a fund to ensure victims … Read more

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This half term don’t get tricked into buying fraudulent flights

Action Fraud, the national fraud and cyber reporting centre, is warning half term holiday makers to avoid fraudulent flight ticket sellers.

The reporting service has received 110 reports from victims whose total losses amount to £98,043. Action Fraud say victims are being enticed by offers of cheap flights and getaways this half term.

A new scam

Victims are being cold called by fraudsters claiming to work for travel companies. Action Fraud say the fraudsters are using new tactics to gain the trust of victims. Intelligence suggests they appear to know that the victim has recently searched for flights online. This … Read more

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Action fraud Warn About Pension Scammers

Action Fraud have released a statement saying that organised criminal groups led by married couples and families are scamming pension holders to the tune of millions of pounds.

Action Fraud say criminal investigations involving regulators, government agencies and police forces are currently ongoing into a number of these gangs. In some cases, the fraudsters have hired fraudulent financial experts with pension experience to run large-scale scams. The fraudsters would not be able to run these scams without the insider knowledge of fraudulent experts.

Victims report receiving cold-calls, offers of free pension reviews and promises of high returns. However a ban … Read more

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12 Years In Jail For Timeshare Fraudster

Kristopher Chavez has been convicted by jury, of one count of violating the Colorado Organised Crime Control Act, one count of theft of an at-risk elder, and 19 counts of felony theft.

According to the initial indictment from December 2016, Chavez operated a timeshare fraud scheme from 2014 to 2016. He would contact timeshare owners from across the U.S, most of whom were elderly and vulnerable. He would invite them to a local hotel and would offer to transfer their timeshare ownerships over for a onetime fee. Once payment was made, Chavez would transfer the title out of their name … Read more

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Hilton Grand Vacations Plan New Resort In Maui

Hilton Grand Vacations is planning a new Resort on the island of Hawaii and is expected to be completed in 2021, according to Hilton News Release.

Maui Bay Villas will be set on 27 acres and consist of 388 timeshare units which includes, one, two and three bedroom suites. Amenities will include a clubhouse and restaurant, fitness centre, food market and large pool with beachfront views.

Sales are expected to begin at the beginning of 2020. President and CEO of Hilton Grand Vacations said: “Our customers consistently rank Maui as one of their requests for expanding our portfolio of resorts, … Read more

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Ex–Barclays bosses charged with fraud

Four former Barclays Bank senior bosses have been accused of disguising and hiding £322 million payment during 2008 financial crisis. The Serious Fraud Office have charged John Varley and Roger Jenkins with conspiracy to commit fraud. The other executives charged are Thomas Kalaris and Richard Boath and all four appeared in Southwark Crown Court in London after an investigation into the bank finding financial alternatives to a government bailout following the financial global crisis in 2008.

Edward Brown QC for the prosecution told the jury that by the summer of 2008, Barclays were under extreme pressure to raise capital and … Read more

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Fake holiday scammers stole £600 rent money

A young woman from Cambridge had £600 stolen from her bank account after she entered her details on a fake holiday booking site. Alex Roberts found a cheap packaged deal for a trip to the Maldives for just £700, which included flights. The deal seemed like an opportunity she could not miss and began to fill in her personal information, but her suspicion was aroused as the deal seemed too good to be true. Instead of confirming the payment, Alex closed the browser, however, days later noticed £600 had been taken from her bank account.

Alex spoke to the Sun … Read more

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Retailers advertising real fur as Faux Fur

Clothes shops have been selling real fur, but advertising it as fake. After an investigation by the Advertising Standards Authority discovered this practice was widespread, they have ordered retailers to stop immediately. The agency has given retailers a deadline of 11 February to change their ways or face punishment.

Why would a retailer advertise fur as fake?

Often a retailer has been mis-led somewhere in their supply chain, but the Advertising Standards Authority, say this is not an excuse. They say the companies need to take charge of this and make sure they are not mis-leading their consumers.

Miles Lockwood, … Read more

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Scammers Threatening victims With Jail

Police in Derbyshire are warning residents that scammers are operating in the area again, this time posing as HMRC officials. The police have taken the step to warn residents after numerous reports were made and one victim reported having lost nearly £2,000.

The fraudsters have been telling victims they could be arrested or prosecuted at court, because of unpaid taxes they didn’t know they owed. They then go on to tell their victims that they can avoid being prosecuted if they pay the balance via a bank transfer or by handing over gift cards.

Some of the victims have reported … Read more

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Scammers Target Netflix Accounts

Netflix are warning customers to be vigilant after millions of users are targeted by scammers. The problem has become so bad the US government has issued an official warning about the highly convincing emails asking them to update their payment details, and a version of this scam is seeing users in the UK being also targeted.

Subscribers to the video streaming service have been warned that although the emails appear convincing, not to click on any of the internal links asking them to update their payment information. If users do click on the links, they are likely to have valuable … Read more

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