Identity Fraud-Are you aware of it?

As recession swiped the entire nation, UK saw a big leap in identity fraud. Fraudsters target the common man as well as business firms. In UK, The Anonymous Attacker and CIFAS are some of the fraud prevention bodies that are fighting this odd. There was a special National Identity Fraud Week in UK in 2009 for warding off this evil.

Identity fraud can attack anyone. This happens when someone is trying to use your identity by fraudulently accessing your accounts. The credit crunch has given impetus to these frauds and as CIFAS reports; the percentage of victims has risen by 36% compared to previous years.

Frauds can be of various types. Current address fraud happens when a victim’s post is intercepted or redirected for accessing his accounts. Even ‘forwarding address fraud’ another facet of frauds in UK. Here the scammer tries to prove that the victim has already shifted his address. Fraudsters even attack those who are dead and forge their identities. This is called ‘deceased identity fraud”.

Experian survey reveals that fraudsters are now turning away from rich people to those who are thriving on lower income or rent homes in UK. Here they have a reason. Fraudsters can easily reach out to people with small income as their identity can be stolen with much ease. For instance people in UK who live in rented houses use hallways or mailboxes regularly. So if you are anticipating anything of this sort, it is better to more cautious.

If you are into social networking, make sure you do not let out much of your personal information. Don’t forget to activate tough privacy settings. If you are web savvy, make sure you access sites that start with “http” and a closed padlock symbol on your computer. Ensure firewall installation in your computers as well as anti-virus. Beware of phishing mails that come from fake websites asking you to verify or change your account details. Throw away unused or expired bank statements as well as unused credit cards. Keep your PIN and passwords safe. For more assistance and help you can visit: http://www.cifas.org.uk/.

A war within!

UK's British Banker's Association chief executive, Angela Knight hissed at the sector's critics for blaming banks for the nation's economic crisis.

She said, "they have few - if any - friends. They understand they are held responsible for the whole problem - even when this is manifestly not the case,". She condemned all the major UK authorities such as FSA, Bank Of England and backfired at them saying that "they had rushed ahead with "irresponsible" reforms on remuneration and capital requirements that go beyond what others have done."

She supported her views with the fact that a lot of British jobs related or linked to banking bring in billions of opounds in tax income. The banking system in UK has build up its framework this year by joininh hands with several leading institutions reporting large profits in recent months. But nevertheless the common man is raged at U.K. government injecting tens of billions of pounds worth of taxpayer money into major banks, like Royal Bank of Scotland and Lloyds Banking Group and offer hundreds of billions of pounds worth of debt guarantees, loss insurance and liquidity support.

Using a 0% credit card

Credit cards are perhaps one of the most lucrative means of getting quick money. But did you know that you will also be charged a fee by the banks? Yes, of course you know that but most of us forget this fact. This leads us to debts. The interest rates on these credit cards arew like a monster. They make your financial dealing a highly expensove affair. Just think like this. You buy a beautiful watch for £150 with a credi card. Now the credit card company wil charge you £39 to buy it and you will have to pay it back within a year. Don't you think this gets too expensive?
There is one more option for you now. You can use a 0% credit card. But you will be wondering what is so different with this 0% credit card. Right? There isa different story out here. With a 0% credit card you can trasfer your debts from an expensive credit card or store cards to have a few interest free months. Just amke sure that you pay back the minimum amount to stop banks pursuing you. Now there is another turn here. Just prior to the ending of the 0% period that is usually 6 months, open another 0% credut card witha different company and switch your debts there.
Remember a 0% credit card works wonders for those witha very good credit score and for those who have enough time to switch over from neto another. There are many companies that charge a transfer fee but this can stil help to recover your arrerars.

A look at redundancy and debt in UK

The levels of redundancy in UK has been growing day in and out. Whether divorce or personal debt woes, redundancy has been a big reason. The economic turmoil has even added to these woes.


When we talk about redundancy, we refer to the impact of the terms of a company. There are a lot of flaws regarding the implementation of entitlement. One gets very little entitlement if the company goes into receivership. This can be dangerous if you do not have assets to pay them. In that case you will again make way for debts.


Redundancy payment is not the last word. You must get entitlements such as legitimate expenses and others. If you leave your company and then discover that you owe more to the company than what you will receive, it will be tough for you to get the money. If you are a victim of redundancy, you will surely get a warning. So without delay, let your creditors know about your current state.


To save yourself from redundancy problems, you can also resort to redundancy insurance. his type of cover is known as 'accident, sickness and unemployment' cover (ASU). It covers all most 50% to 75% of your monthly income and your payouts wil continue for an year.


Permanent health insurance (PHI) policies with unemployment cover added is another option. These policies pay an income intended to safeguard your living standards if you suffer long-term sickness or injury. Amidst all these what is important is assessing your situation and finding out a way. You can always seek legal advice from national helpline services in UK for free.

Want to run a financial health checker? Read this:

Are you going lunatic because of your expenses? Thinking about controlling them? But do you know how? Well, FSA or the Financial Services Authority in UK has a financial health checking service that will give you short and handy tips for a better financial status.

You can be rest assured about this entire service. This comes straight from FSA-an initiative set up by the UK government to control financial services and protect your rights. The financial health checker is not time consuming. You will just have to answer a few simple questions and the health checker will give you suggestions accordingly. All the information you provide is kept confidential. This health checker does not advertise any firm or any product or information. It will show you a way to a better future by helping you to take right financial decisions.

For more assistance and more money saving tools, visit FSA.