Barclays: Beware of 'e-scams' by Finance News Bulletin

Published: 04/01/08

As a figure of fee and rate increases hits the credit card market, it is "more important than ever" that populace shop around for a good deal, according to WhichInternet shoppers have been advised to use their credit cards for online purchases by shopsafeco

ukBarclays, the high-street store, has advised its customers to be "extra vigilant" next reports of a new type of e-mail fraudincorrectly purporting to be from a committee linked with the London Olympics in 2012, e-mails have been sent to many recipients, stating that they have won a lottery prizeIt then asks them to create a payment online which will "release" the winnings - but this is in its place stolen by the fraudsters by the credit card details supplied by the account holder

The attacks, which Barclays claim have been targeted at "thousands of recipients", are alike to phishing, where customers are sent a fake e-mail which asks them to corroborate security details such as their credit card number or explanation passwordsOf the new attacks, Barnaby Davis, electronic banking director at Barclays, remarked: "Fraudsters are becoming increasingly complicated and many scam e-mails can look very convincing with the employ of familiar branding"He added: "The bottom row for customers is that if they have even the slightest doubt about an e-mail, to ignore and delete it"According to WetStone Tech, the word "phishing" was coined as internet frauds employ "e-mail bait to

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Barclays Personal Loans reveals drivers are fed up - Published:17/11/07

Rising fuel prices and traffic jams were exposed as the major complaints of British motorists polled by Barclays Personal LoansThe study asked 2,317 adults about their main irritations when driving and found that fuel costs, traffic, parking limits, road works, fines and other drivers were some of the culpritsGary Duggan, managing director for Barclays Personal Loans, said that "although we can't do anything about the price of fuel, traffic jams or congestion charging", a Barclays personal loan could assist facilitate the buy of a vehicle"Purchasing a car has become easier, as we have recently reduced our rates on our loans to as low as 68 per cent - and to help a little small piece more we will give £50 to clientele who switch their current loan to us," he remarkedRecent research from puzzledcom reveals that convictions for running red lights.

Payment protection comes under FSA spotlight - Published:27/11/06

All era are London time Search News in the FTcom siteSearchSearch speech marks in the FTcom sitespeech marksYOUR MONEY Your insuranceBreadcrumb trail navigation:FT Home > Your money > Your insuranceEDITOR’S CHOICEWatchdogs to launch new buying guideCarved-up consumers urged to structure aroundProviders resist applying minimum standardsBarclays offers surprise PPI refunds OFT to examine selling of payment defence insuranceLATEST YOUR MONEY STORIESCustomers can click on recommendation beyond compareHow landlords can avoid that 3am callRetailers now give clientele a worse deal Insurers adopt a more sympathetic bedside mannerNU hopes to end price war with hike in car premiumsUnwary motorists could be caught in far above the ground claims trap Make sure your wrap prepares for the worstAvoid going bust on the beach Families’ fees frightening is likely to be very long-termAdvisers fall short on long-term mind calculationsSome companies offering sum protection insurance, which covers mortgage or loan resums when individuals are unable to work following illness or unemployment, could have their rights to put up for sale this cover revoked next month when the monetary Services Authority issues its update on the PPI marketAs well as barring some providers from trade this cover, the regulator could also call for much better information revelation to consumers The FSA, which is concluding a further study into sales practices of PPI, is however understood to be happy with some improvements in the advice and sales process of this cover, particularly in the mortgage marketThis week the FSA fined Regency Mortgage Corporation, which specialises in the correct to buy” market, £56,000 for failures relating to the sale of mortgage-related payment defence insurance It represents the first well by the FSA against a firm for selling PPI since it took on regulation of this manufactured goods in January 2005The FSA argued that failings in Regency’s systems meant that its customers were being exposed to “an unacceptable danger of being sold PPI policies which were not appropriate for their needs”In its last inform on PPI in November, the FSA said about not whole of all firms conducting non-advised sales did not have adequate systems to stop their employees giving advice In other luggage, it argued that information being given to individuals was equal to adviceThe FSA also highlighted the structure and amounts of inducements at some firms, raising concerns that this could encourage missellingNext month’s findings from the watchdog will head the conclusions of an Office of Fair Trading Report into the payment protection insurance marketplace The OFT’s findings have been delayed and are now expected to be released not on time in November or in early DecemberThe OFT’s remit is to measure whether the market is delivering good value for consumers The OFT can create recommendations to the government or the FSA, to begin investigations or enforcement action against companies suspected of breaching consumer or competition rule or refer them to the Competition CommissionPPI has become a big earner for UK monetary institutions Datamonitor estimates the market to be worth £54bn annuallyThis insurance cover is sold next to mortgages and is also frequently added to individual loans and credit card repaymentsHowever claims ratios on this cover – claims as a total share of premium income – are near to the ground, indicating that this business is extremely profitable Claims ratios on PPI are estimated to be between 15 and 20 per cent, compared with 55 per cent for household insurance and 74 per cent for motor insuranceSome banks and monetary institutions have been making refunds to clientele following internal reviewsBarclays, for example, has made refunds to some customers who waged lump sum premiums for PPI cover attached to loans but who waged the loan off near the beginning, meaning they were entitled to refunds for the unused era of the insuranceRSS news feeds = requires subscription to FTcom* Minimum delay 15 minutesAll times are London timeFT HomeSite mapContact usHelpAdvertise with the FTPress enquiriesStudent offersFT ConferencesFT Research CentreCorporate subscriptionsFT collection Copyright The Financial Times Ltd 2006 "FT" and "Financial era" are trademarks of The Financial era Ltd.

Britons wasting millions by not switching home insurance, study shows - Published:14/11/06

UK residents are wasting £1445 million every month by not switching their home insurance provider, according to investigateBritons are overpaying their home cover by £17 billion a year, which equates to £11295 per month, according to the learn conducted by BarclaysThe company states that although switching has become popular with energy providers and credit card companies, fewer UK people are willing to change their home insurance supplierMark Till, marketing director at Barclays insurance, comments: "It is amazing to see that people are ignorant how easily they can switch their home cover to a better deal"And more importantly that it is not just an option when it is time for their annual renewal quotation"We actively encourage people to shop around to find the most excellent deal to ensure they get the most excellent worth home insurance" Meanwhile, recent research from Halifax indicated that millions of UK residents could be putting themselves at danger by leaving doors unlocked, which could cancel their home insurance.

Barclays: Beware of 'e-scams' by Finance News Bulletin

Published: 04/01/08

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Payment protection comes under FSA spotlight - Published:27/11/06

Britons wasting millions by not switching home insurance, study shows - Published:14/11/06