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Identity fraud ad banned

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The Advertising Standards Authority has banned a Royal Mail TV ad which aimed to increase the awareness of identity fraud. The TV ad shows a bank robbery by balaclava hooded thieves brandishing baseball bats. Instead of picking up cash lying on the ground, the robbers sought personal information from terrified bank customers under threat of violent force.

The leading media agency, Saatchi, was behind the ad, which Clearcast had approved and had recommended was to be shown only after the 9pm watershed, which it duly was. Seven complaints were received by the ASA, which assessed the Royal Mail’s comprehensive arguments to justify the ad, but concluded that the "ad was likely to cause fear and distress to viewers, in particular to .....

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16 Nov 2017 by Barry Stamp Identity Theft
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Help for those affected by the Equifax data breach

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Dropping on many doormats right now are letters from Equifax advising those people in the UK who have had their personal data stolen.

This follows a recently discovered cyber-attack on Equifax in the US, which resulted in a hacker gaining access to a very limited amount of personal information (compared to the extent that might have been lost) since May 2017.

The letter gives those affected a number of free services to enable them to check their credit reports for any sign of suspicious activity since the malicious hack took place.

Anyone receiving such a letter may be alarmed initially by the possibility of identity fraud, but at least they have been directly alerted. So many data breaches in the past – notably HMR .....

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26 Oct 2017 by Barry Stamp Identity Theft
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Gig goers must get resold ticket warning says CMA

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The secondary tickets market is currently under investigation by the Competition and Markets Authority (CMA) to ensure compliance with the law.

Though it isn’t illegal to re-sell tickets, the industry have an obligation to be clear with their customers and to ensure they know what they are getting for their cash. For example the buyer should know where their allocated seat is, sitting in the back row in a venue that holds 10s of thousands of gig goers is a little different to being within spitting distance of your favourite act and there is no doubt a difference in what you would pay for each experience.

Crucially the buyer also needs to know if there is a restriction in the use of resold tickets for their particular event, i .....

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BRIGHTHOUSE HINDERED BY FCA COMPLIANCE

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BrightHouse, the controversial rent-to-own firm, has admitted that the imposition of more rigorous affordability checks is hindering its business model. Since the Financial Conduct Authority took over the regulation of the rent to own sector in 2014, BrightHouse has attempted to allay a number of concerns the FCA raised regarding affordability checks and the treatment of customers who fall behind on payments. These changes, according to its chairman Henry Staunton are “onerous and time consuming” and have, “had a material impact on the level of customer sign-ups and consequently on profit”.

BrightHouse specialises in selling household goods and furniture via weekly payment plans. Typical interest rates range from 69.9% to 99.9% dep .....

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17 Oct 2016 by Erika Bone Declined Credit
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Comparing Free Credit Scores

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TV adverts for free credit scores are lifting demand for both credit scores and credit reports as consumers are prompted to satisfy their curiosity to see how they measure up. But with quite a choice of providers, which one can you trust, and how do the scores measure up against each other? And how do the scores compare with those used by lenders when assessing your applications?

The first thing to understand is that there is no standard credit score. Credit scores are simply a measure of creditworthiness – the higher the score, the less likely you are to default on a credit facility. Credit scores replaced manual credit assessment way back in the 1970s – the men in suits were no match for a proven system that is fairer, more c .....

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10 Aug 2016 by Barry Stamp Credit Reports
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