There are a lot of means by which criminals can help themselves to the hard earned cash in your bank account. Too often, the first we know about this kind of fraud or identity theft is when it affects our credit rating and impacts on our own ability to secure credit, or we get stuck with a massive bill. Either way, it’s something we all have to be mindful of. Harrington Brooks are one of the longest established and most highly respected financial institutions in the UK and they have provided this list of the top ten techniques for fighting the fraudsters so you’re better equipped to keep yourself and your savings safe.

1. Keep a grip on your bank account.
Account takeover is where fraudsters impersonate you by gathering your personal information and then contacting your bank. This is essentially identity theft and while posing as you, they can transfer funds out of the account or change the address on your account and request replacement cards to be sent to the new address. So, shred any sensitive material and make a note of when your statements are due. If they’re delayed, it could mean they have been intercepted.

2. Be safe with pin numbers and passwords.
Don’t write down your Pin as you run the risk of fraud and if the worst were to happen, your bank could refuse to refund you will be thought of as negligent. Never share your Pin with anyone and try to use different passwords for all your accounts.

3. Bring down your credit limits.
This is essentially an act of damage limitation. Reducing your limits can cap any potential losses if your cards are stolen. Keep an eye on lenders increasing your limit without your consent too. New laws will give you the power to opt out of these unwanted credit increases.

4. Cancel any cards you don’t use.
With 66 million credit cards in the UK and only 49 million adults, it stands to reason that people have more than one. Check what cards you don’t use anymore and cancel them. The fewer cards you have, the less likely you’ll be a victim of fraud.

5. Don’t get caught out by phishing.
“Phishing” is when an email is sent to you by fraudsters, claiming to be your bank. Chances are, it’ll have your bank’s logo and give a return email that looks genuine. Normally, you’ll be warned about a breach of your account and to log in. Then you’ll be sent to a fake site that collects your details for the fraudsters. Your bank will not email you if your account has been breached, they’ll phone you.

6. Stay close to your bank.
Not physically, but give them your mobile number so they can contact you swiftly, if anything does happen. If you’re going to do a lot of shopping, it makes sense to inform your bank. Tell them before making a big purchase you’re going overseas. Make sure you have your bank’s phone number on you too, just in case.

7. Consider a pre-paid card.
You can just top up the card and use it like a credit or debit card, it has Chip and Pin so can be used securely in shops and you can use it to draw money from cash machines. It isn’t linked to a current account or credit card though, so you can’t over extend it. You’ll normally pay a fee to take out a prepaid card though.

8. Keep an eye on your statements.
Get into the habit of going through your bank and card statements, rather than just tossing them aside. Your statement tells you exactly when and where the card has been used, so if it wasn’t you or there are any suspicious transactions, let the bank or card company know straight away.

9. Guard against viruses.
Many banks offer free security software to protect your computer from attack. A virus will normally wait until you log in to your online banking and insert a dummy page. If you enter your personal data it will be sent via the virus to the fraudsters.

10. Keep a grip on your card.
Criminals can get hold of your card details by skimming the card through a special machine that stores the data. They then transfer the info to a fake card and use it in countries that don’t have Chip and Pin readers. Chip and Pin readers are hand-held so you can see what’s happening. They shouldn’t need to take your card anywhere.

Harrington Brooks are here to help you with a host of financial queries. If you’re worried about fraud, debt or other financial issues, stop by www.harringtonbrooks.co.uk and get in touch with one of our dedicated, impartial financial advisors.

Well, we’ve made it through the recession; the next challenge will be surviving the recovery. Families must face up to the fact that their finances suffer more this year than they did last year, during the recession. The reason for this disheartening news is that the recovery stands to bring about inflation, increased interest rates, higher taxes and more expensive household bills. So, the message from financial analysts and debt advisors is clear; we’re not out of the woods yet.

Here are Harrington Brooks’s top ten tips on surviving the recovery.

1. Protect yourself against losing your job.
You should consider taking out some kind of redundancy protection. Unemployment has fallen a little but it’s smart to take out insurance against losing your job while you still have one.

2. Be prepared for a pay freeze.
Pay freezes are set to become more common and it’s likely to be down to firms controlling costs by freezing your pay. For a lot of people, the recovery is going to feel just like the recession.

3. Try to fix your mortgages while rates are low.
Avoid the rising interest rates by entering into a fixed rate deal in the next few months. However, the good news is that the number of mortgage deals will continue to increase.

4. Keep a close eye on your credit card limit.
Credit card companies are beginning to authorise higher credit limits, without actually asking their customers first. Although this may seem a great deal for if you’re struggling to pay bills, you’re just saving up the debt for later.

5. You shouldn’t bank on a rise in house prices.
Strangely, house prices ended up higher at the end of 2009 than at the start. However, the average house price in the UK is £169,000 and according to Halifax, it’s unlikely to climb much higher. Rising mortgage rates and growing unemployment will make it hard for many to move home.

6. Get advice about tax.
Tax can only go up. Some suggest that VAT could rise to 20 per cent after the election. Protect yourself by getting a good tax advisor.

7. Avoid tying your savings up for too long.
People who are heavily dependent on their savings should be careful about tying up their money for too long. What seems a great deal now, may not look so good in a few years.

8. Pay the maximum amount into your pension.
Since inflation eats into your savings, a set some of money will get you less at the end of the year than it did at the start. However, pensions tend track inflation because they invest in Government bonds.

9. Be sure to budget for an increase in household bills.
A fixed deal from your energy company might look more expensive now but will prove good value if tariffs climb. Wholesale energy markets will rise in line with an increased demand. So, your utility bills are likely to climb too.

10. Clear your existing debts now.

Freeing yourself from the burden of bad debt as quickly as possible will hopefully allow you to avoid rocketing rates of interest. Talk to a dedicated debt advisor about the best debt solution to suit your circumstances. Visit www.harringtonbrooks.co.uk and take the free, no obligation debt test to find out your best option.