Press releases

16th Oct 2014 Back to top
  • CII and BBA announce partnership

    Joint initiative aims to secure trust and confidence in banking

    The  BBA and the Chartered Insurance Institute (CII) today announced the launch of a new working partnership to promote and develop standards and skills in retail banking.

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15th Oct 2014 Back to top
13th Oct 2014 Back to top
  • Poll finds millions leave themselves open to scams as banks launch campaign

    The BBA is launching a fraud awareness campaign as YouGov polling reveals that millions of people in Great Britain are unwittingly leaving themselves vulnerable to scams perpetrated by fraudsters posing as their bank.

    The poll assessed customers’ responses to some of the common tactics used by criminals, over the phone, via email or via text. Based on the answers, the BBA calculates that people all over the country could fall foul of the most prevalent frauds around:

    • 8 million vulnerable to “vishing” or voice phishing
    • 4 million might transfer money into another supposed “safe” account if instructed
    • 3 million could be willing to carry out “test transactions” online
    • 1.7 million would pass their bank card over to a courier on their doorstep if they carried some form of ID card
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7th Oct 2014 Back to top
  • August 2014 – Credit Card Market

    Richard Woolhouse, Chief Economist at the BBA, said:

    “Credit card borrowing is now rising faster than at any time since the height of the financial crisis. That suggests consumers are feeling more optimistic about their economic circumstances and the strength of the recovery.

    “It’s also striking that more than 42% of all borrowing on cards incurs no interest at all – a proportion that has risen from 34% just two years ago.

    “This shows how many of us are using credit cards to give us more control over how we manage our finances without being charged for doing so.”

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2nd Oct 2014 Back to top
  • A wealth of opportunities: Private banking and wealth management attracts investment, creates jobs and boosts growth

    A new major study into Britain’s private banking and wealth management (PBWM) industry today reveals that the sector now oversees £524 billion and contributes £5.5 billion a year to the economy – equivalent to a city the size of Brighton and Hove.

    The BBA’s Wealth of Opportunities report, which is supported by the Wealth Management Association (WMA), reveals that investors rate the UK higher than other financial centres for these services, and that the sector last year paid taxes of £1.2 billion – equivalent to £19 for each individual living in the UK.

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29th Sep 2014 Back to top
  • Lending Appeals Process working for small businesses

    Responding to the  Q1 2014 Appeals Process report by the Independent External Reviewer, Professor Russel Griggs, BBA Executive Director of Business Finance, Irene Graham, said:

    “Thousands of businesses have successfully used the Appeals Process to unlock the finance they need to grow, innovate and take on new staff.

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25th Sep 2014 Back to top
  • BBA: those who manipulate benchmarks should be properly punished

    Commenting on the HM Treasury consultation launched today on extending legislation of financial benchmarks, a spokesman for the BBA said:

    “We welcome these moves to introduce clear, robust regulation of benchmarks with tough criminal sanctions. This did form part of the announcement of the Fair and Efficient Market Review and will only enhance London’s reputation as a safe place to do business.

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  • BBA: “encouraging” signs on complaints – but there can be no complacency

    Commenting on FCA statistics showing a 5% fall in complaints to banks and other financial services firms, a spokesman for the BBA said:

    “Banks are trying hard to lower the number of complaints and have been working closely with the Financial Conduct Authority to achieve this.

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23rd Sep 2014 Back to top
  • Banks team up with government to combat cyber criminals and fraudsters

    A pioneering financial crime alert system will see 12 government and law enforcement agencies warn banks of the latest threats in a bid to safeguard the accounts of millions of customers.

    The BBA, working with preferred technology partner BAE Systems Applied Intelligence, will launch the Financial Crime Alerts Service (FCAS) as part of a new approach to combat a wide range of financial crime threats. The new alert service will allow the sector to react more swiftly than ever to major incidents and allow industry financial crime professionals to spot emerging problems and threatening criminal trends.

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