A fine example of how not to carry out debt collection appeared in Singapore newspapers this week after three men were jailed for their part in a farcical incident.

Andra Chew Keng Leng, 40, Lim Boon Tiong, 43, and David Tan, 37, all employees of a debt recovery firm called Double Ace Associates, were sent with three colleagues to collect a debt from a food stall owner at Singapore’s Funan Digitalife Mall.

Small and medium sized businesses need to be aware of a rising wave of frauds affecting companies big and small. The current most frequently used type of fraud is often called “Fake CEO Fraud” and we would urge all UK businesses to stay vigilant or potentially stand to lose significant sums.

Published in Credit Control

Four scammers from East Lancashire have been jailed for fraud and money laundering offences after using a string of fake debt collection companies to fraudulently obtain thousands of pounds from SME’s to pay fictitious debts.

Thomas Moffett, Elliot Reed, Nancy Shaw and Gary Oliphant were imprisoned at Preston Crown Court on July the 5th 2016.

The group was part of a total of 18 people sentenced for their role in the scam, for offences including conspiring to commit fraud by false representation and money laundering.

Published in Debt Collection

The phrase 'no win, no fee' is screamed at you from a hundred adverts a day, usually in relation to personal injury claims, PPI mis-selling and so on, but it is also used in the context of no win, no fee debt collection - meaning you only pay commission to the b2b debt collection company if they are successful in recovering what you are owed.

It's worded all sorts of different ways, so you might also see 'no collection = no commission' on some ads, but it boils down to the same thing - if you don't win back your money from the debtor, then you have nothing to pay.

Published in Debt Collection

Two directors of Lancashire-based Worldwide Sports Investments Limited have been disqaulified following an investigation by the Official Receiver’s Public Interest Unit.  The directors operated a high pressure sales scam purporting to offer investments in a golf course and hotel development in Portugal.

44 year old director Mr Christopher Smullen received a disqualification order on the 26th May 2015 banning him from managing, promoting or being a director of a limited company for 13 years from the 16th of June 2015.

Published in Credit Control

Recently we featured an article on an individual called Phillip Buffett and his "Uber Intelligence" group of companies. This individual came to our attention when we were tasked by two freelancers to pursue unpaid invoices totalling over £10k.

It soon became apparent to us that the individual in question was a known fraudster, with a history of criminality and a penchant for defrauding individuals, businesses and even professional athletes.  He was also already serving a seven year ban as a director for his previous frauds.

Published in Credit Control

Company impersonation fraud is big business these days as scammers, fraudsters and criminals increasingly realize the advantages this type of fraud has over the more "traditional" types of fraud that target individuals.

We regularly deal with businesses that have fallen victim to this type of fraud and do what we can to help, but it is rare that a customer scammer will attempt to draw us into this kind of activity.  But that is exactly what happened to us and our debt collection affiliates in Germany recently.

Published in Credit Control

Back in March of 2013 we ran an article called "Dodgy Debt Collection Agencies Liquidated" that featured the story of how the Insolvency Service had liquidated two companies run by a Mr Stuart Paul Cooper of Topping Street, Blackpool.

Then it all went quiet and we heard no mention of the name Stuart Paul Cooper until an eagle eyed reader contacted us this week.  They informed us that the infamous Mr Stuart Paul Cooper is now serving a three year jail sentence for fraud. So what happened?

Published in Debt Collection

Have you heard the one about the Croydon conman who paid for his shopping in Harrods with a £245,000 dud cheque?

It's no joke - 49-year-old Philip Buffett of Fairfield Road faces a jail term for fraud after paying with a cheque from a closed account for goods including a £183,000 Hublot watch.

Published in Debt Collection

A former West Yorkshire Police Detective Sergeant has been convicted of money laundering after standing accused of operating or being involved in the operation of fraudulent debt elimination companies and escort agencies.

DS Christopher Taylor ran Wakefield-based First Debt Recovery, established in 2008 and supposedly drawing on his experience with the CID and Fraud Squad.

However, it was later alleged that First Debt Recovery had been laundering money for several businesses operated by Anthony Muldoon, including five bogus debt elimination firms and a total of 28 escort agencies.

Published in Debt Collection

Hitting the Headlines: Safe Collections in the Guardian

in About Safe Collections by Adam Home
If you're a Guardian reader, you may have seen Safe Collections' collections and partnerships manager Adam Home quoted in a Guardian Professional article on May 12th. Tim Aldred's piece looked at the case for credit control teams as a way for businesses to…

Hitting The Headlines: The Independent on Sunday

in About Safe Collections by Adam Home
In 2009 our founder and Managing Director was interviewed for a piece in The Independent On Sunday, this article is reproduced below with their kind permission. in 2009 we still went by our original name of Creditsafe Ltd, whilst our name may have changed our…