In Reference Appointments & Updates
FICO has released its annual interactive European Fraud Map, which shows that the UK’s card fraud losses hit a record £671m in 2018. The data from Euromonitor International and UK Finance compares these losses against previous years and 18 other European countries. The UK’s card-fraud losses were the
biggest in Europe, and account for nearly half of the €1,616m (about £1,400m) lost to fraud across the 19 countries in the map. This development comes just a year after the UK managed to cut fraud losses by 8%. “The threat of fraud in the UK has been
persistent and growing extensively over the past seven years,” said Matt Cox, vice president for fraud management solutions in Europe at FICO. “The sheer volume of attempted fraud has meant that, although more fraud is being prevented now than ever before, and that it is being caught earlier in the attack cycle, the total value lost is still on the rise. The primary cause of these record-breaking losses is an epidemic of high-profile data breaches.”
Last month, Market Finance revealed that small and medium-sized businesses are waiting twice as long to be paid in 2019, with firms having to wait an average of 23
Target Group has announced the implementation of a new mandate for the Development Bank of Wales to provide a hosted loan administration system for Help to Buy Wales. The Help to Buy Wales scheme,
aimed at first time buyers in Wales, offers financial support for people to get onto the property ladder when buying new build homes up to £300,000. The implementation of the Help to Buy Wales mandate coincides with
Helen Adams and Richard South
two new public-sector appointments. Richard South has joined as business development director, and Helen Adams as bid manager. Stuart Anderson, chief commercial officer at Target Group said: “The
decision by the Development Bank of Wales to appoint Target Group is testament to the fantastic work our team has done in recent years to support our public-sector clients. I am sure both Richard and Helen will play an important part in continuing the Target Group success story as we celebrate our fourtieth year in business.”
days to receive their money, up from 12 days in 2018. Interestingly, fewer invoices were paid late in 2019 but worryingly, those that were late took twice as long. Tim Vine, European head of finance &
risk solutions, Dun & Bradstreet, said: “Late payments put immense pressure on cash flow and the financial stability of a business, especially SMEs. Although there has been
Peter Wallwork, chief executive of the Credit Services Association (CSA) has decided he will be stepping down in June 2020 after more than 10 years at the helm. He was appointed to the newly-created role of chief
executive following the retirement of CSA executive director Kurt Obermaier in 2010. In that time, he has guided the association through a period of significant change, including the transfer of regulatory powers to the Financial Conduct Authority and supporting members through the authorisation process. He said: “I have been committed to the success of the association and
Peter Wallwork
supporting our members for ten years, and feel the time is right to move on. I am incredibly proud of what we have achieved in that time and believe we have made great strides in influencing key stakeholders, supporting our economy and in driving standards by developing the CSA into a nationally recognised apprenticeship provider.” John Ricketts, chair of the CSA, added: “Peter has been a devoted supporter
of the industry since before taking over as chief executive and his achievements are a matter of record and should be a tremendous source of pride. The board fully understands and respects Peter’s desire to move on to other challenges, and formally thanks him for the significant contribution he has made in making the CSA what it is today – one of the foremost trade associations in the UK.”
January 2020
www.CCRMagazine.com
discussion on tackling late payments – with progress such as the government’s promise to pay its own suppliers in a timely way and the introduction of a 30-day payment deadline – it is still a very real problem for many SMEs. Late payments affect the health of a business; UK companies spend 56.4 million hours looking for overdue payments and our survey found that nearly half of SME respondents felt that overdue payments put their business at risk of failure.”
Critiqom has been acquired by Opus Trust Communications. The transaction was completed on 17 December 2019 for an undisclosed sum. Chief executive officer of Critiqom, Charles
Sweeney, said: “We are very pleased to announce the acquisition of Critiqom by Opus Trust Communications. This was not just about shared skills and capabilities, but more importantly about shared values. We wanted to identify a business that would enhance our offering and put our customers’ needs first.” Chief executive officer for Opus Trust
Communications, Tony Strong, added: “We are delighted to welcome Critiqom to the Opus family, the acquisition represents a key step in the delivery of our strategic plan, expanding the offerings both firms provide to clients and securing our position as partner of choice within the public sector.”
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