News EdBoCkSToCk / ShuTTErSToCk MP urges change in law for OAP scams Businesses and consumers urged to take five r.nAGY / ShuTTErSToCk Financial fraud occurred every 15 seconds in the UK between January and June 2016 a 53 per cent increase compared to the same period last year according to the Financial Fraud Action UK (FFA). Now the FFA, all major banks and key financial services providers across the UK have come together for the first time to launch a national campaign to combat financial fraud. The campaign Take Five aims to put consumers and businesses back in control with straightforward advice to help prevent financial fraud that directly targets customers, such as email deception (known as phishing) and phone and textbased scams (sometimes known as vishing and smishing). It is designed to remind people that it pays to stop and think. Scams targeting the elderly should be re-categorised as an aggravated crime, MPs were told during a parliamentary debate on the impact of fraud on vulnerable people. The call by East Sussex Conservative MP Nusrat Ghani came as figures released by Financial Fraud Action revealed that a scam was committed every 15 seconds during the first half of 2016. This equates to a staggering 53 per cent increase on 2015. According to CTSI, the current rate of scams nets 52bn a year. Ghani said that while banks and post offices had a duty of care, particularly for elderly people with conditions such as Alzheimers, areview of sentencing by the Ministry of Justice should put in place astronger deterrent to fraudsters by re-categorising the offence of fraud on elderly people. She said: We already treat child abuse as a separate crime, and while I obviously recognise the real differences between physical child abuse and scams against the elderly, both are especially repugnant because they target those least able to defend and protect themselves. Solihull MP Julian Knight spoke of a rising tide of scams that are becoming more sophisticated and how damaging they were to the overall economy. He said: Numbers can get thrown around, but to put [the yearly figure] into context, 52bn is more than we spend on defence or education. If we were to cut that figure by just 10 per cent, we would reinject 5bn into peoples savings and the wider economy itself. The impact on victims mental health should also be given greater prominence, said Mr Knight. He said: We must not fall into the trap of considering only financial costs; the social and human damage caused by fraud can be just as severe. For starters, 29 per cent of victims suffer a major depressive episode in the 20 months after a crime, compared with just two per cent of non-victims. He added: Horrifyingly, people who have been defrauded are two-and-a-half times more likely than non-victims to be in care or dead within two years of the event. Scammers take so much more than cash. Consumer group Which? has also found six in 10 people reported being targeted by online scammers in the 12 months up to May this year, with the figure feared to be higher because many victims fail to report incidents. Financial complaints up 3% in first half of 2016, ombudsman reveals The number of complaints to the Financial Ombudsman Service (FOS) rose by three per cent in the first half of 2016. Figures show that the FOS took on a total of 169,132 new cases during the first half of the year an increase of three per cent on the previous six-month period. Of the total number referred to the FOS, payment protection insurance (PPI) made up 54 per cent of new complaints with 91,381 new cases (92,667 in the previous period). Issues involving services other than PPI increased by eight per cent, to 77,751. This includes a doubling in the number of payday lending complaints, compared with the last six months of 2015. Chief ombudsman Caroline Wayman said: The data we have published over the last decade or so helps to illustrate a period thats been challenging and volatile for many financial businesses. But the current signs are that complaints are now broadly levelling off and moving onto a more even keel. High street banks were the top three most complained about businesses: Lloyds received 22,241 complaints, of which 70 per cent were upheld; Bank of Scotland, 22,090, of which 34 per cent were upheld; and Barclays, 18,603, with 47 per cent upheld. Financial adviser network Sesame was the most complained about advice firm between January and June. Almost a quarter of 160 complaints against it were upheld. The firm also saw an increase in the number of complaints over the previous six-month period, when 116 were filed against the company and 23 per cent were upheld. ofgem proposal to cap further charges for customers with debt Energy regulator Ofgem has announced plans to cap charges by energy suppliers for customers who have fallen into debt. Currently, if a consumer drops so far behind with payments, they are forced, by a court warrant, to have a prepayment meter installed. The cost of installation is then added to their bill, increasing the debt further. The Ofgem proposal has been welcomed by Citizens Advice, whose Fair Play for Prepay campaign seeks a better deal for utility customers. Gillian Guy, Citizens Advice chief executive, said: Warrant charges can make it harder for people struggling with gas and electricity debts. Not only do they have to face the extra costs of having a meter installed which can be hundreds of pounds prepayment meters are often more expensive than standard tariffs. This means people struggling with energy debt are then faced with higher gas and electricity bills. Responses should be sent to prepayment@ofgem.gov.uk by 9 November 2016. Read the consultation in full here. " , "9":"On any given day, 2 billion people use protecting the trust our consumers Unilever products to look good, feel have in our brands, their performance, good and get more out of life. With seven value and quality. This, together with out of every ten households around the ensuring the safety of our consumers, world possessing at least one Unilever is why we are committed to product, we have a unique opportunity proactively identifying and combatting to make a positive difference to the lives counterfeiting and the illegal trade of our consumers and build a brighter of our products. 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