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Found 27 results

  1. Britain's markets watchdog has fined Tesco 16.4 million pounds for failing to protect account holders at its bank from a "foreseeable" cyber attack two years ago. The Financial Conduct Authority said that in November 2016 cyber attackers exploited deficiencies in Tesco Bank's design of its debit card and in its financial crime controls. "Those deficiencies left Tesco Bank’s personal current account holders vulnerable to a largely avoidable incident that occurred over 48 hours and which netted the cyber attackers 2.26 million pounds," the FCA said in a statement on Monday. It was the watchdog's first fine for cyber failings. Ensuring lenders become more resilient to cyber attacks has also become a priority for the Bank of England. https://www.msn.com/en-gb/money/news/uk-watchdog-fines-tesco-£164-million-for-bank-cyber-failings/ar-BBNMgN7?ocid=spartandhp
  2. Banks should cap unarranged overdraft fees and warn customers before they go overdrawn, the competition watchdog has said. The Competition and Markets Authority says this and other measures could save bank customers £1bn over five years. The provisional conclusions of the 18-month study into personal and business banking suggest competition is weak in the industry. http://www.bbc.co.uk/news/business-36309396
  3. BBC1 Watchdog 29th October 7.30pm - available on BBC iPlayer https://youtu.be/ABjYCjxsW9g Xercise4Less were exposed for failing to process several customers' cancellations, leading to contact from Harlands and then CRS. Hmmm, now where have I seen that before ?? The funny thing is that X4Less have actually been behaving slightly better to their customers recently, when contacted directly. But it's Harlands that really need to be brought to account for the appalling harassment of their victims. Time to crank up our efforts to involve the CMA and Trading Standards.
  4. Directors of the City regulator will hold crunch talks later about the imposition of a deadline which would draw a line under the £25bn payment protection insurance mis-selling scandal. Sky News has learnt that the Financial Conduct Authority (FCA) will discuss the merits of a so-called time-bar exercise as part of a scheduled board meeting. The board meeting will come ‎four months after the watchdog raised the spectre of a fresh deluge of compensation claims as a consequence of a landmark legal ruling at the Supreme Court last year. Bank executives have warned that the implications of a case brought by Susan Plevin - which centred on a company's failure to disclose to her a large commission payment on her PPI policy - could be catastrophic for the industry. https://uk.news.yahoo.com/watchdog-crunch-talks-25bn-ppi-cut-off-213150769--finance.html#6cfwso4
  5. Well, I'm disapointed I must say. Anne Robinson went very easy on the fallguy from the IPC, and why weren't the companies involved named & shamed? #musttryharder
  6. I am unable to find any other articles on this and sadly this site doesn't allow you to read the full article http://www.thesundaytimes.co.uk/sto/business/Finance/article1516387.ece
  7. 4th December 2014 http://www.bbc.co.uk/programmes/articles/5HlJ1z5lDtYHqVRTRqxx4XL/npower-billing-chaos
  8. Hey guys, Just wanted to know if this was possible? Have a dispute with the retailer, and the Ombudsman is delaying and delaying with giving its response - I've got to the point where I'm happy just to go to court. Thank you
  9. Just watched Watchdog on BBC1 and they have said that they will be investigating Private Parking Tickets next week. Should be fun.
  10. Just watched Watchdog on BBC1 and they have said that they will be investigating Private Parking Tickets next week. Should be fun.
  11. Returns on May 14th. The team look at a major car manufacturer's claims regarding the safety testing of its vehicles. Plus, the high street sports retailer not playing fair with their pricing policy, and the chemical ingredient in household paint that is being linked to an allergy epidemic.
  12. http://www.bbc.co.uk/programmes/b006mg74/features/wonga-fraud-complaints-continue
  13. Citizens Advice claims in 76% of studied cases customers could complain to Financial Financial Ombudsman Service and win damages Three-quarters of payday loan customers who have turned to Citizens Advice for help may have had grounds to make an official complaint to the Financial Ombudsman Service, the charity says.Citizens Advice analysed 665 payday loan cases reported by consumers between 1 January and 30 June this year and concluded that in 76% of them borrowers could have made an official complaint and possibly won compensation. One in five of the cases were possible cases of fraud, where a person was chased for a loan they had not taken out. More than a third involved problems with continuous payment authorities, including lenders, extracting money from banks accounts that they were not authorised to take. Harassment and unfair treatment by lenders accounted for the other problems faced by borrowers that Citizens Advice said should have been reported. Payday loans have attracted strong criticism from this charity and other debt charities, who have accused lenders of failing to do proper affordability checks on borrowers and for putting people under pressure to roll over loans. High-interest loans can quickly become very expensive for consumers, and charities have reported seeing people trapped in a cycle of debt. The use of continuous payment authorities to collect debts has been particularly problematic. Borrowers have reported having their accounts drained of money before they have paid for essentials. Citizens Advice is urging borrowers to take their complaints to the ombudsman – the body which adjudicates on cases that have failed to be sorted out to consumers' satisfaction – to seek compensation and put pressure on the industry to clean up its act. If a complaint is upheld by the Financial Ombudsman the lender can be ordered to put things right and, if the consumer has lost out financially, to pay compensation. In some cases borrowers could be eligible for a refund on loan repayments or other charges they have paid. Gillian Guy, chief executive of Citizens Advice, said: "The level of debt and hardship caused by some payday loans is absolutely scandalous and people often feel completely powerless to do anything about it. But consumers can fight back. "By making your voice heard you will expose the bad behaviour of lenders and put pressure on them to clean up their act, which could help stop similar problems happening to other people." Between April and June just 160 complaints about payday lenders were made to the ombudsman, but 72% of those were upheld in favour of the borrower. Only about one in eight people who contact the ombudsman about payday loans make a complaint, against one in four across other sectors. It is thought that the stigma connected with arranging to have this type of short-term borrowing could be deterring people from making an official complaint. Link: http://www.theguardian.com/money/2013/aug/05/watchdog-rule-payday-loan-disputes
  14. Couple see red over £163,000 Orange mobile bill For the full story : - http://money.aol.co.uk/2013/05/22/orange-mobile-bill-makes-couple-see-red/ Apparently the consumer had taken one of the phones into the store where it was purchased as it appeared to be overheating. It was replaced. However,
  15. Wonga on the box tonight defending their stance on fraud management/prevention after reporting suggested that 350 people had their accounts raided despite not having any dealings with Wonga. Maybe if they received enough e-mails, the Beeb might consider a follow up on their general incompetence? http://www.bbc.co.uk/newsbeat/22357839
  16. http://uk.news.yahoo.com/uk-watchdog-sees-leap-insurance-mis-selling-cases-000836875--sector.html
  17. http://www.scotsman.com/news/uk/socially-irresponsible-loan-firm-advert-banned-1-2752623
  18. Episode 4 covers parking fines on private land will post link later when its up on iplayer
  19. For those who claim this is not happening: http://tvguide.co.uk/detail.asp?id=135640656
  20. There is a very good article about it on the BBC Watchdog website. Travelodge: Smoking or non-smoking? Travelodge is the fastest growing budget hotel chain in the UK. Seven million rooms were sold last year alone and some for as low as £19 a night. But whilst your bill may be low during your stay, afterwards you may be sent a demand for seven times that amount as a punishment for something you haven’t done. Along with restaurants and other public places, hotels have restricted the places on their premises that people can smoke. Light up and you can be fined up to £200 if convicted, plus damages if the company is granted them in court. http://www.bbc.co.uk/programmes/b006...avelodge-fines
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