The Department for Work and Pensions’ (DWP) ‘bank spying bill’ has come into force and gives government agents new capabilities to tackle benefits fraud. The Public Authorities (Fraud, Error, and Debt) Bill grants DWP agents the authority to get data from benefit claimants’ bank accounts and, under some conditions, to retrieve payments directly. The Eligibility Verification MeasureContinue reading “DWP Can Now Take Money From Bank Accounts”
Tag Archives: Banks
Post Office Closures Will Hit Rural Areas Hardest
Labour has acknowledged that proposals to cut the number of post offices in half will disproportionately affect the elderly in rural regions. It says ‘nearly half’ of all those nationwide are no longer profitable and subsidies are unsustainable, meaning almost 6,000 of the 11,500 risk being scrapped. Part-time ones, which open a few days aContinue reading “Post Office Closures Will Hit Rural Areas Hardest”
Cash Is No Longer King?
Nigel Farage last night promised to lead a ‘crypto revolution’ in Britain that would see the Bank of England build up a Bitcoin reserve’. The Reform leader, who is facing accusations of having ‘fantasy’ economic plans, used an appearance at a digital currency conference in Las Vegas to vow to ‘bring our country properly into the 21st century’. He used hisContinue reading “Cash Is No Longer King? “
Trial Of Bank Account Monitoring Reveals 63,000 Benefit Claimants Breaking Rules
Tens of thousands of claimants were found to be in violation of benefit regulations during the Department for Work and Pensions (DWP) trial of its new bank monitoring capabilities. The DWP is currently working on tackling fraud, debt, and error in the benefit system. One of the new plans will give the DWP the power to check the claimant’s bank accounts.Continue reading “Trial Of Bank Account Monitoring Reveals 63,000 Benefit Claimants Breaking Rules”
January 2024: Boots Store Closures
After Boots closed multiple locations in 2023, there will be more closures in the New Year. A year ago, Boots closed locations on King William Street in London and Salford Shopping Centre in Greater Manchester. The beloved health and beauty chain is shying away from the British high streets in a move to consolidate theContinue reading “January 2024: Boots Store Closures”
An Aussie Pub’s Ban On Cash Backfires
A new brewpub which opened this week in Western Australia generated a stir on social media after it said it wouldn’t take cash and only accepted card payments. Froth Craft Brewery, across the road from North Beach in Perth’s north, celebrated its opening in preparation for the weekend crowds, with the brewery’s two other pubsContinue reading “An Aussie Pub’s Ban On Cash Backfires”
In Three Years’ Time, Australia May Be Cashless
A finance expert has warned Australia could become a cashless society in as little as three years with thousands of people to be left worse off because of it. Among those who could suffer in a cashless society are people in regional areas, those caught in emergencies, indigenous Australians, new immigrants, sex workers, the elderlyContinue reading “In Three Years’ Time, Australia May Be Cashless”
British Banks’ Privacy Policies Provide Them With The Ability To Monitor Customers’ Social Media Activities
The UK’s largest banks were compared to ‘communist China’ after it emerged their privacy policies permit them to monitor customers’ social media. The four biggest high street lenders, NatWest, Lloyds Banking Group, HSBC and Barclays have all declined to deny that they keep track of users’ activity. The disclosure came days after leading Brexiteer NigelContinue reading “British Banks’ Privacy Policies Provide Them With The Ability To Monitor Customers’ Social Media Activities”
Elon Musk Says He’s Open To Buying Crisis-Hit Silicon Valley Bank And Turning Twitter Into A Digital Bank
Twitter and Tesla CEO Elon Musk said in a tweet that he’s open to saving the crisis-hit Silicon Valley Bank and even using Twitter as a digital bank. The sudden collapse of Silicon Valley Bank has set financial markets into a frenzy, as experts warn it may not be a one-off and brace for theContinue reading “Elon Musk Says He’s Open To Buying Crisis-Hit Silicon Valley Bank And Turning Twitter Into A Digital Bank”
British Banks Are Disappearing From The High Street
Another 40 bank branches are to be lost from the UK’s high street, as Lloyds and Halifax announce more closures. Lloyds Banking Group, which owns both high street banks, is to close 18 Halifax sites and 22 Lloyds branches, all but one of which are in England, between April and June this year. The groupContinue reading “British Banks Are Disappearing From The High Street”
THE MONTHLY MOSQUITO 