Contactless cards: how to avoid paying twice

Credit cards that you simply wave at a reader save time and are a boon for visitors to London. But they can also raid your bank account invisibly.

The value of the average contactless card transaction is relatively small at £6.65, meaning they are easy to miss on bank statements. Regularly checking your statements is a good idea if you have a contactless card as the sooner you spot a double payment, the easier it will be to rectify.

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Welcome to Sweden – the most cash-free society on the planet

Four out of five purchases are now made electronically in Sweden, according to associate professor of industrial dynamics at Sweden’s Royal Institute of Technology, Niklas Arvidsson – and going totally cash-free is the next step. “Banks and merchants invested heavily in card payment systems in the 1990s and these days consumers are used to it,” says Arvidsson.


‘Surge in ‘number spoofing’ fraud: Fraudsters trick bank customers into handing over cash with new phone trick

Fraudsters are using a new simple telephone scam to trick people into believing they are speaking to a trusted organisation – usually a bank – by making a legitimate number appear on their caller ID display.

In what has been branded ‘number spoofing’, fraudsters clone the telephone number of an organisation they wish to impersonate and make it appear on the caller ID display seen by their intended victim.

The scammer gains trust by drawing attention to the number on the display and uses this as proof of identity in order to disguise the fraud.

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Small businesses underestimating cybercrime threat to profits, cashflow and reputation

Ed Vaizey, Minister for culture and the digital economy, said at an event last week to help firms combat cybercrime: ‘Small businesses are driving economic growth in the UK but remain particularly vulnerable to cyber-security breaches that can result in hundreds of thousands of pounds worth of damage.’

Recent research by PwC on behalf of the Department for Business, Innovation and Skills, has found that 60 per cent of small businesses have suffered a malicious breach in the past year – and half of them had a serious incident.

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Feeling ripped-off? Here’s how to get your money back if you are hit with scams and disputes

New figures from the National Fraud Intelligence Bureau show that more than £670 million has been lost to online fraud in just a year. 

But hundreds of thousands of people also lose serious money every year as a result of scams and disputes with individuals and companies. 

Here, we look at how you can fight to get your money back.

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Revealed: The top ten online scams – and how one victim lost his money to fraudsters who conned all his Facebook friends too…

The ten biggest online scams lost victims across the country £670million over the last year – and this figure is likely to be far higher due to unreported cases, National Fraud Intelligence Bureau data reveals.

The case of a victim known only as Chris, who had thousands stolen by fraudsters who simply rang his bank to gain details and also conned his Facebook friends into sending money too, is highlighted by Get Safe Online Week, which started yesterday.

It comes as a study found half of those who have been a victim of cyber fraud – which includes ID theft, economic losses, hacking and viruses – said they felt either ‘very’ or ‘extremely violated’ by their ordeal.

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Small firms warned of surge in invoice fraud – with one Norfolk-based manufacturer scammed out of £350k

Small businesses have been warned to stay vigilant after a surge in invoice fraud in which conmen try to dupe firms into handing over hundreds of thousands of pounds.

Financial Fraud Action UK has reported a rise in the scam with hundreds falling victim in the last year. The fraudsters send in fake requests for payment which look legitimate, often via e-mail or letter, with new payment details.

Because the fraud is not always detected immediately, stolen funds are often quickly transferred outside of Britain making it nearly impossible to get the money back. In a shocking example of the scam, the FFA UK has highlighted the recent case of a manufacturer based in Norfolk.

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‘We lost £1,000 on a fake holiday booking’: From holiday villas to cut price cars – the tempting internet bargains that simply don’t exist

  • Between £8million and £20million a year is lost to so-called clone websites
  • Laura Parks lost out on £1,000 when she and her husband arrived at a lodge near Loch Ness and learned their booking didn’t exist

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Every two minutes someone in Britain loses their savings to a new breed of conman… Are you the next victim?

Every two minutes of every day, someone in the UK is ripped off by a fraudster or loses money to an online crime.

Households are falling prey to investment conmen, cold callers who petrify their victims into thinking they’ve been robbed, fake websites, pension crooks and online bandits who dupe people into giving away their personal details.

And these are just the crimes that are reported. Staggeringly, only 5 per cent of the 19,000 frauds reported every month are being solved. At some point, every one of us is likely to become a victim of this modern-day crimewave.

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Beware the crooks who want to get their hands on your pension pot

One in eight employees aged 50 or over has been the target of fraudsters promising to release their pension savings.

Workers in their 50s are being warned that they are the primary target for scamsters who are using dramatic changes in the pensions system to try to part them from their retirement pot.

Changes from April 2015 mean that retirees can, for the first time, use the money as they wish instead of having to buy an annuity. The first 25% of this will be tax-free. They will be able to use the money to pay down debts, for example, invest outside the pension, or simply enjoy life – even blowing the lot on a sports car, according to the pensions minister.

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