Are fraudsters getting away too easily?
Money Box
BBC
4.2 • 825 Ratings
🗓️ 6 April 2019
⏱️ 26 minutes
🧾️ Download transcript
Summary
The inconsistent manner in which police forces in England and Wales investigate reports of fraud is leaving victims 'confused and disillusioned.' That's one of the findings in a report by the watchdog Her Majesty’s Inspectorate of Constabulary and Fire and Rescue Services. Money Box listener Emma lost her £25,000 new home deposit after criminals hacked emails between her and her solicitor in order to divert and steal the money. She feels let down by the police and her bank. Guest HM Inspector of Constabulary Matt Parr.
What needs to happen for you to achieve the life you desire? How much money is enough money? Just a few of the questions likely to be asked by a lifestyle financial planner as they cashflow model your future. Julie Lord, Chief Executive of Magenta Financial Planning, explains what it involves. A report from Gingerbread, the charity for single-parent families, highlights concerns over the operation of one of the Child Maintenance Support payment methods called Direct Pay where parents manage payments between themselves. Guest: Sumi Rabindrakumar who wrote the report for Gingerbread.
This week the Financial Conduct Authority issued a warning for people considering putting their cash into Innovative Finance ISAs (IFISAs). It says mini-bonds or peer-2-peer investments "may not be protected by the Financial Services Compensation Scheme so customers may lose the money invested or find it hard to get back." It follows the collapse of London Capital & Finance. More than 11,000 people invested £236m with the failed mini-bond provider.
Reporter: Dan Whitworth Presenter: Paul Lewis Producer: Charmaine Cozier Editor: Richard Vadon
Transcript
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| 0:00.0 | You're about to listen to a BBC podcast, but this is about something else you might enjoy. |
| 0:05.4 | My name's Katie Lecky and I'm an assistant commissioner for on demand music on BBC Sounds. |
| 0:10.8 | The BBC has an incredible musical heritage and culture and as a music lover, I love being part of that. |
| 0:17.5 | With music on sounds, we offer collections and mixes for everything, from workouts to |
| 0:22.4 | helping you nod off, boogie in your kitchen, or even just a moment of calm. And they're all put |
| 0:28.3 | together by people who know their stuff. So if you want some expertly curated music in your life, |
| 0:35.0 | check out BBC Sounds. |
| 0:41.3 | BBC Sounds, music, radio, podcasts. Hello, in today's program, a damning report says the police are overwhelmed with the quantity and complexity of frauds. |
| 0:48.3 | Few are even investigated. |
| 0:50.3 | Should financial advisors become more like coaches, helping us achieve our lifestyle goals rather than flogging as stuff? |
| 0:58.2 | Single parents say they should not be expected to enforce their own maintenance payments |
| 1:02.6 | after an acrimonious breakup |
| 1:04.3 | and beware innovative financeisers that are not covered by the official compensation scheme. |
| 1:11.1 | But first, that damning report into how police forces in England and Wales tackle fraud, |
| 1:16.3 | done by Her Majesty's Inspectorate of Constabulary, no less, |
| 1:20.1 | it found that fraud is rarely seen as the priority. |
| 1:22.6 | It found one force just filed around 19 out of 20 of the cases passed to it, |
| 1:28.6 | even though some of those reports identified suspects. |
| 1:31.8 | Some forces could not even tell the inspectors how many frauds had been recorded |
| 1:36.1 | or what they'd done about them. |
| 1:38.2 | Moneybox reporter Dan Whitworth's been going through it. |
| 1:40.2 | Dan, what did you find in this report? |
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