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The Independent
6 days ago
- Business
- The Independent
£66m returned to APP scam victims in first six months of rules going live
Some £66 million was returned to victims of authorised push payment (APP) scams in the first six months of a new reimbursement scheme going live, according to a regulator's figures. Rules requiring banks to reimburse people who have been tricked into transferring money to a fraudster were launched in October last year. Under the shake-up, banks must reimburse APP fraud victims, unless the customer has been grossly negligent. Figures released by the Payment Systems Regulator (PSR) showed that in the first six months of the new rules, 87% of money lost to APP scams in scope of the policy was returned to victims, equating to £66 million. Consumers reported around 109,000 claims, with 77,000 in scope for reimbursement. Nearly nine in 10 (86%) claims were closed within five business days. In the update on its website, the PSR said: 'The data shows positive outcomes for consumers in the first six months of our policy. 'Reimbursement rates were high, firms responded to claims promptly, and there was no indication of people being significantly less cautious.' Some £27.6 million was reimbursed in the first three months of the new rules, rising to £38.4 million in the following three-month period. A reimbursement limit of £85,000 applies under the rules, although banks can choose to go further than this and repay higher amounts. The new protections apply when a transfer is made to and from a UK bank account. They cover transactions made from October 7 2024 onwards and do not apply retrospectively. Previously, many bank customers relied on a voluntary code to get their money back. Concerns were raised that consumers faced a refund 'lottery'. Criminals will often pose as trusted institutions such as banks, companies or Government departments to persuade people to part with their cash, with scams becoming increasingly sophisticated. They may also use artificial intelligence (AI) and deepfake videos to make scams seem even more plausible. There are various reasons why an APP scam claim is not reimbursable under the policy, for example if it is a civil dispute, the PSR said. Around 3% of claims in the first six months of the new rules were rejected due to the consumer being deemed not to have taken enough caution. This equated to around 1,100 rejections in the first three months of the new rules being launched and 1,700 claims turned down in the following three months.
The Guardian
7 days ago
- Automotive
- The Guardian
What to do if your driving licence is either lost or stolen
Mislaying your driving licence, or having it stolen, can be a real hassle and leave you vulnerable to fraud, so it is important to act quickly to protect your personal information. Contact your local police station or call 101 to report a stolen full or provisional licence. They will then give you a crime reference number. This can be important if your licence is used for fraudulent activity later on. If you've misplaced it, this isn't a necessary step, but can be a good idea if you think there's a chance it might have been stolen. Apply for a replacement licence through the Driver and Vehicle Licensing Agency (DVLA) website if you are in England, Scotland and Wales (or the DVA in Northern Ireland), or by phone and post. If you are applying by post, you will need to complete and send the D1 application for a driving licence form, which is available from most post offices. You can also apply by phone, but only if you have a photocard driving licence and none of your details have changed. A new licence costs £20. Keep an eye on your bank accounts for any suspicious activity, just in case your licence is being used for identity theft. It is a good idea to notify your bank, too, so they can flag any suspicious activity. Consider getting identity theft protection if you are worried about fraud. These services monitor your credit for any unusual activity. You can apply for protective registration with Cifas, the UK's fraud prevention service – this costs £30 for two years. Experian's Identity Plus offers a similar service – it's free for 30 days and £10.99 a month after. In the UK you are allowed to drive while you wait for a new licence to arrive. Once you have reported the theft or loss, and completed an application for a replacement licence, you should receive a new one within a week. Here are some steps you can take to protect yourself in future: Make a record of your new driving licence number – it's the unique 16-character code that can be found underneath the licence's expiry date. Keep it in a secure place, to avoid losing it, or having it stolen again. If the police pull you over while driving, you're allowed up to a week to take your licence into your local police station, so you don't need to carry it on you at all times. Set up alerts for your bank accounts to stay ahead of any large or unusual transactions, and be extra cautious with your personal details in the future. If you find your old licence after you've applied for, or received, a new one, you need to return it to the DVLA with a note explaining what has happened. You can find the address on the website.
Phone Arena
14-07-2025
- Business
- Phone Arena
T-Mobile users should update settings if they don't want sensitive info to be shared with other firms
T-Mobile has added two privacy toggles to settings and they may rub some users the wrong way. T-Mobile 's "Privacy Center" now features new toggles that are turned on by default, per The Mobile Report . The first is called "Fraud and identity theft protection," and it uses your information to prevent fraud. The company explains that it uses your data, such as account information and activity, communication patterns, and interactions with sketchy URLs, to identify fraudulent activity and shares indicators of fraud with other companies you have an account with to stop unauthorised transactions from going through. T-Mobile now creates indicators of financial fraud and shares them with other companies. | Image Credit - The Mobile Report One example given by T-Mobile is when your bank might inquire about any changes to your contact information to help it flag fraudulent transactions. It's hard to come up with other use cases for this toggle beyond anything involving payments, but all things considered, it doesn't look like having this toggle enabled will put you at risk. The other toggle is a bit worrying, though. It's called "Sharing certain financial information," and if it's turned on, it will permit T-Mobile to share any financial data it has on you, including payment history and account balance, with other companies for marketing and business purposes. T-Mobile will also share your financial information with other companies. | Image Credit - The Mobile Report Financial information is some of the most sensitive information, and it can be misused to profile you or impersonate you, among other things. That's why, most people will not want T-Mobile to share this information with other companiesIf you want to turn these toggles off, launch the T-Life app, navigate to the Manage tab, tap the gear icon at the top right, and select "Privacy & policies". After that, go to "Privacy dashboard". You can alternatively visit the Privacy Center on T-Mobile 's website. You'll have to select the brand you use and sign in if you haven't already. You will then be directed to the main dashboard, which will have most of the opt-out toggles. You will have to turn off each of the toggles separately, and that too for each line. While you are tinkering with these settings, you might also want to check out the "Manage Do Not Sell or Share" and "Update marketing preferences" buttons to make sure everything is to your liking. While T-Mobile might have introduced the new settings to improve the user experience, they should have been opt-in by default, instead of the other way around. Even though it's commendable that the process to disable the toggles is pretty straightforward, T-Mobile should let users decide if they want to enable them. Secure your connection now at a bargain price! We may earn a commission if you make a purchase Check Out The Offer
Android Authority
14-07-2025
- Business
- Android Authority
T-Mobile has two new toggles that could affect your privacy, should you turn them off?
Edgar Cervantes / Android Authority TL;DR T-Mobile has added two new privacy toggles: one for sharing certain financial information and another for fraud/identity theft protection. The first toggle allows T-Mobile to share your financial data with affiliates and marketers, while the second is meant to help detect fraud. You can disable both toggles in the T-Life app, and for most people, turning off the first is strongly recommended. T-Mobile and the other big carriers have a certain reputation when it comes to handling your personal data — and frankly, it's not good. It's no secret that your data can be used for targeted ads, sold to third parties for marketing purposes, and more. Not to mention, all the big carriers have had their fair share of major data breaches as well. Out of all three, T-Mobile probably offers the most robust privacy controls at least, covering a wider range of specific privacy-related situations. You can disable many of these settings directly in the Privacy Center, but you'll need to stay on top of any changes, as most of these options are enabled by default. In fact, as first pointed out by The Mobile Report, there are now two new toggles that have been recently added to the mix. While one of these new privacy toggles might legitimately be worth keeping on, let's start with the one I'm most iffy about. Should you disable all the toggles in Privacy Center? 0 votes Yes, absolutely! NaN % Most of them, but the new Fraud option might be worth it. NaN % No, I don't bother with disabling them. NaN % Other (tell us in comments) NaN % While T-Mobile collects a lot of data, it's limited in what it can do with personal information associated with device financing or postpaid service. That said, if the 'Sharing certain financial information' toggle is on, T-Mobile will be able to collect and share your data with financial companies for joint marketing, affiliates for everyday business purposes related to creditworthiness, affiliates for their marketing purposes, and non-affiliates for their marketing purposes. Next, there's the 'Fraud and identity theft protection' toggle. This one certainly sounds less sketchy. According to T-Mobile's website, it uses your data to 'create indicators of potential fraud' to better protect you. For example, your bank might request to know if your contact information on your account has changed recently, or if there has been any unusual calling activity, which could indicate attempted fraud. Should you turn these two toggles off, or leave them on? Joe Maring / Android Authority I'd suggest disabling the first toggle immediately. As for the second one? In theory, it could be useful. That said, it's unclear exactly what kind of information T-Mobile would share with other companies or what security is in place to prevent abuse, leaks, or mismanagement. Honestly, at this point, I find it hard to trust any company's data privacy policies, and when given an option to share less, I typically do it. Personally, I'd rather set up third-party identity protection services or just monitor my transactions carefully, rather than blindly trust that a big corporation is taking all the necessary precautions to protect my data. T-Mobile will, of course, tell you that these changes are helpful and good. There might even be some truth to it from time to time, but it's not something I would personally take my chances on. Ultimately, though, the decision is up to you for both toggles, though the benefits are more obvious with the second one. The first option is really something everyone would probably disable if they knew it existed, but most average (read: non-techie) folks never dig deep enough to realize they can turn this stuff off in the first place. To disable the toggles, here's what you'll need to do: Open the T-Life app and go to the Manage tab. and go to the tab. Hit the Gear icon at the top right, and scroll down to Privacy and Policies . Tap it. at the top right, and scroll down to . Tap it. Next, tap on 'get started,' and then you'll be taken to a main dashboard with the toggles. Simply scroll to the new toggles and any others you'd like to disable, and switch them off. It's important to note that this also must be done on a per-line basis. Disabling toggles on your main account/line won't automatically disable them for the rest of your devices. Got a tip? Talk to us! Email our staff at Email our staff at news@ . You can stay anonymous or get credit for the info, it's your choice.
Yahoo
30-06-2025
- Business
- Yahoo
Paysafe Limited (PSFE) Announces Expanded Its Partnership with Fiserv (FI)
Paysafe Limited (NYSE:PSFE) is one of the 10 Best 52-Week Low Tech Stocks To Buy According to Analysts. On May 9, Paysafe Limited (NYSE:PSFE) announced expanding its partnership with Fiserv (NYSE:FI) to support small and medium-sized businesses. The collaboration is focused on improving three main areas including access to capital, enhanced fraud protection, and a new digital wallet solution. The company will integrate Fiserv's Clover Capital solution, allowing it to provide SMBs with faster and easier access to funding, helping them scale and grow with less paperwork and fewer delays. Paysafe Limited (NYSE:PSFE) will also use Fiserv's Data-as-a-Service technology to strengthen risk management and fraud detection, making payments more secure for merchants and customers. An executive in a suit presenting a digital commerce platform to a group of financial advisors. In addition, as part of the partnership both the companies will launch a digital wallet for merchants using Fiserv's Clover platform, which will enable near-instant settlements allowing businesses to receive funds quickly after a sale. Paysafe Limited (NYSE:PSFE) is a UK-based payments platform that offers a range of services including credit and debit card processing, digital wallets, eCash, and real-time banking. While we acknowledge the potential of PSFE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
