Tackling Mobile Fraud and Savings Tax

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 17 August 2024

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

New tactics to fight mobile phone fraud are being rolled out across England and Wales. It's when mobile phones are stolen not for the value of the physical handset but for criminals to access the banking and financial apps and steal money from victims. Paul Lewis speaks to the national lead on robbery, Commander Richard Smith, about how new intelligence and techniques to pursue suspects have led to arrests and prosecutions going to court.

More and more of us are paying tax on our savings. Recent figures suggest that in April over 6 million savings accounts were set to earn enough interest to have to pay tax. That is more than double the number of accounts the year before, according to analysis by the lender Shawbrook. In November, HMRC told us that for the majority of customers this tax on savings interest is automatically collected using their tax code, but many listeners get in touch concerned they will have to pay tax and wondering how to do it. What should they do?

Listeners and lawyers who are court appointed deputies say banks won't let them act properly for the person they protect. We’ll speak to the Association of Lifetime Lawyers about what they're seeing. UK Finance, which represents banks, says it knows there's more to be done and that it's working with members and government bodies to look at how greater consistency can be achieved across the industry.

And, what's a children’s pension and how do they work?

Presenter: Paul Lewis Reporters: Dan Whitworth and Catherine Lund Researcher: Jo Krasner Editor: Jess Quayle

(First broadcast 12pm Saturday 20th July 2024)

Transcript

Click on a timestamp to play from that location

0:00.0	You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one.
0:06.5	I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds.
0:11.2	I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects,
0:16.0	relationships, identity, comedy, even one that mixes poetry, music and inner city life.
0:22.4	So one day I'll be helping host develop their ideas, the next fact-checking, a feature,
0:28.3	and the next looking at how a podcast connects with its audience, and maybe that's you.
0:33.6	So if you like this podcast, check out some others on BBC Sounds.
0:39.5	BBC Sounds, music, radio podcasts.
0:43.1	Hello, welcome to this Moneybox podcast.
0:46.2	Millions of people will pay tax on their savings interest this year as rates remain high,
0:51.0	but tax thresholds are frozen.
0:53.4	How do you pay it? Court-appointed deputies say banks
0:57.0	won't let them act properly for the person they protect, and prepare your baby for
1:01.7	retirement, with a 25% boost from the government. But first, the top police officer in charge of
1:09.3	combating robbery in England and Wales has told Moneybox he's rolling out new tactics to all forces to tackle a big rise in theft using mobile phones.
1:19.2	It begins with a robbery, stealing your unlocked phone and ends with the thieves using your banking apps to steal hundreds, thousands, sometimes tens of thousands
1:29.1	of pounds. I talked to Commander Richard Smith earlier this week, but before hearing from him,
1:34.3	here's a reminder that Moneybox first reported on this problem two and a half years ago. Since then,
1:39.8	we've spoken to many victims, people like Ed, Jacopo, and first here, Ben, whose drink was spiked
1:46.9	on a night out before criminals took his phone and used it to steal £18,000.
1:53.5	Well, I felt terrible.
1:55.8	I felt absolutely terrible. And then over the next few days, I just couldn't stop thinking
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.