Recognized as being among the most lethal and difficult pieces of malware ever to hit the market Zeus, if not contained, will empty the back accounts of innocent people who leave themselves susceptible to this powerful yet seemingly easy-to-operate piece of software. The Zeus Trojan horse, if it succeeds in a computer, will rapidly find its way to the most sensitive of personal information, such as online bank account details, passwords and credit card numbers, and will cause havoc with the information accessed.

News of the Zeus malware first came to the authority’s attentions in the UK a few weeks ago, through information that the malware’s operators were searching for victims through the social networking sites. The Zeus Trojan horse operates in such a fashion that if it invades a computer it will cause it to forward sensitive and personal data to servers which are under the control of the hackers. Zeus has reared its ugly head in a number of forms already, with the most damaging to date being a false Facebook page that encouraged users to download a tainted software update. Two young hackers who were behind that particular scam were arrested on the 3rd of November in Manchester, and are currently being held under the 1990 Computer Misuse Act and the 2006 Fraud Act pending charges, with details of the arrests only just being released.

Zeus is what is known as a banking Trojan. While it is a measure of the determination as well as the levels of sophistication that hackers are achieving to create fraud on a massive scale, this is one of the first times that an actual web page on a social networking site has been seen to be used to infiltrate the unsuspecting computer surfer’s hard disc.

Trojans are usually distributed as attachments in email messages, yet increasingly more as software downloads masquerading as legitimate programs. Zeus has been set up to utilize a variety of different methods to steal details, including logging key stokes as a user-entered password.

The total number of computers that have attacked at some time or another by a trojan horse is almost impossible to ascertain, but thought to run to several million. The truth is that it is almost impossible to detect the Zeus Trojan software, as it can change its identity during the time that it is in operation.

Zeus often changed in order to avoid detection by anti-virus software.

Zeus is apparently being sold and distributed among the hacker fraternity, and is in great demand due to its low cost, ease of use and sophistication. Hackers buy it in a tool kit form, which can be manipulated to form a unique variant. Once the Zeus hacker succeeds in accessing either a Facebook or MySpace password, they can use the invaded account as a springboard for sending out more attacks to their friends and family. It can spread like wildfire through the entire framework, and there is evidence that it has already succeeded in doing so on several occasions.

Tags: 1990 Computer Misuse Act, 2006 Fraud Act, Anti Virus, anti-virus software, Banking, banking Trojan, Malware, Mcafee, Phishing Scams, Trojan horse, Trojan Horses, Viruses, Zeus, Zeus malware, Zeus Trojan horse

People who use online banking are under threat from a new Trojan virus, known as the Clampi, which is currently sweeping both the US and UK.

The Clampi virus is a piece of computer code that has already affected over 1,000 computers in the UK, and thousands more in the US.

It works by secretly infiltrating a computer – commonly infecting the machine as an attachment via an email, or website download – and then staying quiet until the operator’s access their financial website, whether they are checking their bank accounts, looking at mortgage statements, or examining savings accounts. The Clampi Trojan then activates, monitoring the information that the user is using to enter their financial site.

Once it gathers this highly personal and confidential information, it sends it back to its creator, computer hackers controlled by gangs of cyber criminals. This they then use to commit online fraud.

With this level of personal information, they can access all number of financial sites and reek havoc, creating spurious accounts, making withdrawals via bank transfers, changing account details and addresses, and even taking complete control over accounts so that even the account holders and account administrators are unaware of the problem.

And the Clampi virus is said to be monitoring at least 5,000 individual financial sites, including most of the UK’s high-street banks, hoping to harvest their cull of personal details with a load of ill-gotten gains. It also targets email provider websites, shopping sites and sites operated by the casinos.

Such is the problem in the US that accounts have already been drained of thousands of dollars. A large number of schools and businesses have already been affected by the Clampi virus.

Computer security experts fear that the Clampi virus represents a major threat and one that could potentially leave people high and dry as accounts are raided and other personal information stolen. Attacks come in waves, as the cyber criminals manipulate their raids on key financial institutions.

Those running Microsoft operating systems appear to be particularly vulnerable to an attach from the Clampi virus.

Warnings are being issued for people not to open unknown email attachments, or download material from websites that they cannot regard as safe. Trojan viruses, such as the Clampi, tend to be delivered embedded in email links, or attachments, or in downloads from spurious websites.

People are being urged to keep their anti-virus software up-to-date at all times.

For more information on viruses and virus protection visit http://www.mcafee-downloads.co.uk/

Tags: Anti Virus, Bank Accounts, Clampi, Clampi Virus, Computer Crime, high-street banks, mortgage statements, Online Banking, Virus

It gives me great pleasure to announce that Alliance & Leicester have won the Business Moneyfacts Award for Best Overall Business Bank and Best Business Current Account provider, yet again.

Moneyfacts – who are they?

Moneyfacts is the leading independent financial information provider in the UK. Since 1988, we’ve been providing impartial information to financial services professionals which has helped thousands of customers get the best deal on their mortgages, savings accounts, credit cards, loans and other personal finance products.

Moneyfacts.co.uk Limited is authorised and regulated by the Financial Services Authority (FSA). Our FSA permissions allow us to introduce you to other regulated firms, but not to sell products direct or to give advice. The products we deal with which are regulated by FSA are investments, mortgages and insurance products. Our other products (personal loans, credit cards and domestic utilities) are not regulated by FSA.

What Moneyfacts Do

Every day, Moneyfacts’ dedicated team of researchers monitor thousands of personal finance products available in the UK. Whether it’s a launch of a new product, a change in its terms or conditions or a withdrawal, our team is on the front line and are in the best place to truly know what’s going on in the financial services world.

Our data is trusted throughout the financial industry. Every major bank and building society in the UK subscribes to our data service for accurate and comprehensive market analysis, and even the Bank of England uses our data too.

We also supply the majority of the national and regional press and many well known financial and consumer websites with Best Buy charts – and our experts are regularly called upon by the likes of the BBC and national press to provide professional comment and opinion.

Tags: Alliance and Leicester, Bank, Bank Accounts, Banking, Moneyfacts

Pity the person who has come of financial maturity of some sort over the last couple of years. Maybe they have just entered the job market, have left home to attend University or just to live with some friends, or are buying a property and looking for a mortgage, started up their own business and looking to open a business account. The list is endless.

With the negative publicity the UK banking system has picked up since the start of the economic turn down (some of which may even be justified) it might be easy to understand why these newcomers to the world of banking might have their doubts and fears. What they need to calm their trepidations is two things:

1. Being a bank account holder is not something that you should ever have misgivings about. The British banking system has been around for hundreds of years, and is as solid now as it has been for all of these years.
2. Relatively recent, yet highly significant developments in the communications field has changed the way that we live our lives in many ways, and the world of banking has benefitted immeasurably as a result of these developments.

Anyone considering open a bank account for the first time, or even switching accounts should know that there is a wealth of information available online on every aspect of banking that they will require understanding how the system operates. If you can learn the difference between a savings account and a current account, how to reduce your bank charges to a minimum, how to cope with an overdraft or without one.

There are many possibilities and you don’t even have to leave your home to discover them. Simply start your online search at http://www.bank–accounts.co.uk/, the UK’s leading web site for all aspects of banking information.

This excellent web site is a goldmine for information of what’s going on in the UK banking scene. You can discover all the current deposit interest rates and other relevant information from the major mortgage banks, among them Abbey National, Alliance and Leicester, Halifax International, HSBC and the Nationwide Building Society. At http://www.bank–accounts.co.uk/, you will be pleased to discover that banks are friendly people who are pleased to be at your service.

Tags: Abbey National, Alliance and Leicester, Bank, Bank Accounts, Halifax International, HSBC, Nationwide Building Society

The last two years have been tough times for business owners in the UK, and unfortunately not all of them have survived it. With the public drawing in the their belts at an unprecedented rate, and the banks, themselves under a period of restructure, have either been unwilling or unable to provide the levels of credit that they were able to before the slump began.

Businesses that are still around despite the difficult times deserve a round of applause. They have proved a very important point to themselves as well as to the UK business community in general. That they have a right to be there, and are set to reap the benefits as time invariably will get better. Difficult though it may be to believe, quite a number of new businesses have been established during probably the toughest period for the Great British economy since before the Second World War. These businesses are obviously headed by people with spirit, vision and tenacity who had recognized a niche for themselves or a gap in the market that they felt that they could fill, and have succeeded in doing so. And all this without the full support of a bank, who were possibly too tied up with their own problems.

Well the good news for business owners, large and small, is that the banks are coming back. Thanks to the tremendous efforts of the UK government to create an atmosphere where banks would be freed of the burdens of their previous mistakes, they are now free to work hand in hand with the UK business community to further their growth. A growth that will get Britain back in business and save and create jobs.

Businesses need banks, and banks need business, not just a source of finance but also for objective advice and guidance on a variety of subjects.

If you run your own business and are looking for some banking information interest rates, credit and credit limits, bank charges, interest rates for your business account, you will find all you need and more on http://www.bank–accounts.co.uk/.

Through this excellent web site you can discover all the current deposit interest rates and other relevant information from the major UK banks among them Abbey National, Alliance and Leicester, Halifax International, HSBC and the Nationwide Building Society among others.

Tags: Abbey National, Alliance and Leicester, Bank Accounts, Banking, Banks, Halifax International, HSBC, Nationwide Building Society

Let’s face it. All of us in the UK have had a really difficult time over the last 18 months or so. Unlike most of the recessions, depressions and hard times that this country has experienced in its history, no one has better reported, forecasted and predicted as well as this one has. Yet when it burst on the scene, it came as a bolt of lightning on a clear and sunny day. After the initial panic, financial analysts seem to be popping up everywhere predicting how the financial crisis is going to pan out, and to be fair, they have been mostly correct. We appear now to be just more than half way through the recession and into a period where people have mostly regrouped and preparing themselves to dig in for the final push.

Most people have had time to take a good look at how they managed their banking pre-recession and hopefully have learned from any mistakes that they made. To be honest, the face of banking has changed so much as a result of the crisis, and the banks that you will find today, bear only a passing resemblance to the banks that you knew in 2007. For a start, credit will be much more difficult to attain, and only on specific circumstances and in less flexible terms than before.

We are back to the good old days of mutual fiscal responsibility, In other words, you have to be much more involved in how you manage your financial affairs and don’t expect the banks to subsidise a lifestyle that you cannot afford. Because they won’t.

Instead you will be expected to manage your bank account without the “safety net” of overdrafts or excessive borrowing through credit cards. You will need to live on your income, and manage your current account and hopefully savings account more prudently than you may have done in the past.

If you haven’t already done so, now is the time to consolidate or reorganize your banking. Take a look around the internet , study and compare interest rates both for saving accounts and overdrafts. Every penny counts in the battle to see out this economic turndown.
It will be well worth your while to start your online search at on http://www.bank–accounts.co.uk/, the UKs leading website for banking information. Providing rates and other information on such major banks as
Abbey National, Alliance and Leicester, Halifax International, HSBC, Nationwide and the Post Office, you are liable to gain a lot from the experience.

Tags: Abbey National, Alliance and Leicester, Bank Accounts, Halifax International, HSBC, Nationwide, post office

An elderly lady actually wrote this letter to her bank. The bank manager
Thought it amusing enough to have it published in The Times and this
Newspaper thanks him most sincerely.

Dear Sir,

I am writing to thank you for bouncing my cheque with which I
Endeavoured to pay my plumber last month. By my calculations, three
‘nanoseconds’ must have elapsed between his presenting the cheque and
The arrival in my account of the funds needed to honour it.

I refer, of course, to the automatic monthly deposit of my Pension, an
Arrangement which, I admit, has been in place for only eight years.

You are to be commended for seizing that brief window of opportunity, and
Also for debiting my account £30 by way of penalty for the inconvenience
Caused to your bank.

My thankfulness springs from the manner in which this incident has
Caused me to rethink my errant financial ways.

I noticed that whereas I personally attend to your telephone calls and
Letters, when I try to contact you, I am confronted by the impersonal,
Overcharging, re-recorded, faceless entity which your bank has become.

From now on, I, like you, choose only to deal with a flesh-and-blood
Person. My mortgage and loan payments will therefore and hereafter no
Longer be automatic, but will arrive at your bank by cheque, addressed
Personally and confidentially to an employee at your bank whom you must
Nominate.

Be aware that it is an offence under the Postal Act for any other person
To open such an envelope.

Please find attached an Application Contact Status which I require your
Chosen employee to complete. I am sorry it runs to eight pages, but in
Order that I know as much about him or her as your bank knows about me,
There is no alternative. Please note that all copies of his or her
Medical history must be countersigned by a Solicitor, and the mandatory
Details of his/her financial situation (income, debts, assets and
Liabilities) must be accompanied by documented proof.

In due course, I will issue your employee with a PIN number which he/she
Must quote in dealings with me. I regret that it cannot be shorter than
28 digits but, again, I have modelled it on the number of button presses
Required of me to access my account balance on your phone bank service.
As they say, imitation is the sincerest form of flattery.

Let me level the playing field even further. When you call me, press
Buttons as follows:

1– To make an appointment to see me.
2– To query a missing payment.
3– To transfer the call to my living room in case I am there.
4– To transfer the call to my bedroom in case I am sleeping.
5– To transfer the call to my toilet in case I am attending to nature.
6– To transfer the call to my mobile phone if I am not at home.
7– To leave a message on my computer (a password to access my computer
Is required. A password will be communicated to you at a later date to
The Authorized Contact.)
8– To return to the main menu and to listen to options 1 through 8
9– To make a general complaint or inquiry, the contact will then be put
On hold, pending the attention of my automated answering service. While
This may, on occasion, involve a lengthy wait, uplifting music will play
For the duration of the call.

Regrettably, but again following your example, I must also levy an
Establishment fee to cover the setting up of this new arrangement.

May I wish you a happy, if ever so slightly less prosperous, New Year.

Your Humble Client

***************************
Addendum from The Editor:

IMPORTANT to REMEMBER that this letter was written by a lady who is a 98
Year old woman; DOESN’T SHE MAKE YOU PROUD!!!?

Tags: Automated calls, Bank, Bank Charges, Funny

Sourced from http://www.bank–accounts.co.uk/

The Bank of England has tried to help mortgage borrowers, and prevent a further decline in the economy from a repeated fall in house prices by reducing interest rates earlier this year. Interest rates currently remain unchanged for the time being and stand at 5 per cent…

What does the Credit Crunch mean for Mortgage Borrowers?

Unfortunately, many mortgage lenders have been unable to pass these savings onto home-owners because of the uncertainties in UK economic growth and in some cases (such as the difficulties experienced by Northern Rock in August last year) because the cash has quite literally run out to fund their current housing stock at the same lower interest rates. What is potentially more worrying for home-owners is that interest rates are unlikely to reduce any further in the near future because of rising inflation which currently stands 1 per cent above the UK Government’s target of 2 per cent – there is even the possibility that they may rise again. All this means that there exists an economic stalemate for the time being, with market predictions bringing little joy to home-owners, businesses and employees over the next few months, and possibly well into 2009.

What the Credit Crunch means for mortgage borrowers is uncertain. Banks other than Northern Rock have also felt the ‘credit crunch’. Such a case is that of Bradford and Bingley, the latest bank that has found itself being unable to fund its Buy-to-Let business as the cash it requires is simply not available from their traditional avenues of finance. As a result, Bradford and Bingley has recently suffered massive falls in its stock share price because of a profits warning for 2008 – more and more of their mortgage customers are increasingly missing their monthly repayments on property that is potentially decreasing in value as average house prices continue to fall month on month. These figures also echo a steep rise in repossession figures for the first quarter of 2008…

Credit Crunch Budgeting and Financial Planning for Everyone
For many, one way to cut a path through these difficult times, when cheap re-mortgaging and low fixed rate deals are harder to come by, is to revise how they manage the money that’s already in their pockets, ensuring that they make the most of every pound by making savings and reductions wherever possible. Ensuring that sensible financial budgeting is at the forefront of everybody’s minds is very important, as well as keeping both eyes open for the best deals on mortgages rates, the banks’ current account deals and where it is possible to save money, on the highest interest savings accounts.

Most banks want you to deposit money regularly with them due to their shortage of cash liquidity, so high interest rate accounts are being offered to tempt you to give them your business.

• Alliance & Leicester
• Bank of Scotland
• Barclays
• Capital One
• Child Trust Fund
• First Direct
• HSBC
• Post Office
• Tesco Savings

Tags: Bank Accounts, Bank of England, Banking, Bradford and Bingley, Credit Crunch, Economic Growth, Financial Planning, House Prices, Mortgage, Mortgage Lenders, Northern Rock

Sourced from http://www.bank–accounts.co.uk/

If you are looking for ways to improve your chances of receiving a loan, the best option is to build your collateral in order to show the lender that you have a strong financial history and are a dedicated to repaying the loan.

In banking terms, collateral is used to indicate assets that secure a debt obligation. In the case of a house mortgage, for example, the house serves as the collateral for the mortgage loan. This way, the bank is completely secured against the risk of the borrower not being able to meet the interest payments – if you cannot make the payments, the bank will seize your home.

There are two different types of collateral that banks will consider. The first type of collateral is secured lending, otherwise known as asset-based lending. The other type of collateral refers to more ‘liquid’ assets such as cash or securities, often known as ‘margin’.

Depending on the needs of your lender, having a strong amount of collateral will likely help you secure a loan more easily, and may even allow you to negotiate lower interest rates.

One of the best ways to improve your collateral is to start making smart investments. These don’t have to be large; you can start small and build yourself up over time. In fact, most people build their collateral using the loan system – they use small loans to make smart investments and eventually they have a large amount of collateral to their name.

Easy Ways to Improve Your Image without Collateral

You don’t have to buy a home to improve your image in the eyes of a lender. Here are some simple ways to improve your financial image:

• Make bill payments on-time: avoid trying to wait until the last possible minute to pay your bills. Get on-top of the bill payment situation – and pay your bill as soon as it arrives in the mail
• Avoid maxing out your credit card: interest rates and payments can become very difficult to manage and can become easily out of control. Try to make more than the minimum payments each month
• You don’t have to carry a credit card balance: one of the many myths of building collateral is that you need a credit card balance. In fact, many credit scores don’t distinguish the fact if you carry a credit card or not
• Open a checking or savings account: although not critical, many lenders will look at your credit history and look favourably on the fact that you represent stability
• Obtain a secured credit card: these cards allow you to make a deposit with a lender – and the amount usually becomes your credit limit. The issuer takes on very little risk because if you don’t pay on time, it can go into your account to cover the bill
• Use a co-signer if possible: If it is feasible to obtain a co-signer for your first few credit accounts. In these circumstances the credit rating of the co-signer will be added to your own
• Make smart financial decisions: Make sure your credit is in place before you make large purchases

Building collateral is one of the most important things you can do in order to obtain a healthy financial situation. Start today, as the process does take time. However, the rewards for having good credit will far outweigh the problems associated with having no collateral.

• Alliance & Leicester
• Bank of Scotland
• Barclays
• Capital One
• Child Trust Fund
• First Direct
• HSBC
• Post Office
• Tesco Savings

Tags: Bank Accounts, Banking, Collateral, Credit Crunch, Credit Score, Financial Planning, Interest Payments, Loans, Payments

Sourced from http://www.bank–accounts.co.uk/

The age that we live in is one of instant access to information and highly competitive market places. As consumers, we are starting to take the conditions of our economy for granted, but we need only look at the history of banking to understand that things were very different, not too long ago.

Access to Credit

Banks were not always the primary source of credit, but now it is difficult to find people who do not have a bank mortgage, line of credit, or credit card. In fact, an entire range of smaller institutions have even been established to provide credit services to people who would otherwise be rejected by larger establishments.

Before this change, many families lived with very few credit options. Although it may seem appealing to yearn for a time with less debt, we cannot forget the conveniences that come with such a sophisticated credit system.

For example, credit cards allow us to pay for and reserve items remotely, without actually visiting a place in person. This has been one of the primary driving sources in the online sales revolution, which has taken convenience shopping to the next level. In addition, a time without credit was also a time when many people were forced to do without until they could save enough or find a family member from whom to borrow. Now, people have the ability to control their own finances.

Centralizing Banking Activity

Three decades ago, there were many more bank accounts in the UK than there are today. In a very short time most of these smaller institutions were acquired by larger ones, meaning that now there are scarcely more than a dozen global companies that handle most of our daily banking.

Not only does a more centralized system provide a greater level of convenience for customers, it has also allowed for improved security and a greater innovation in banking products.

Automated Banking and Banking Online

Instant information has changed the face of banking. Gone are the days when visiting the bank was a weekly chore that included making any necessary deposits, collecting the week’s household cash fund, and paying some bills. Now, people are carrying cash less frequently and relying more on debit cards and cash machines, thus eliminating the necessity of a special trip to the bank.

Online banking has further reduced the number of people who visit their local bank branch. Now, instead of paying bills in person people pay them any time of the day from the comfort of their home.

Educated Customers

Whether it is access to information online or just a new awareness of our money, we are fast becoming active participants in our financial decisions. In the past, many families trusted their local bank manager’s recommendations and trusted them to handle many financial decisions. Now, customers are becoming more sophisticated and are demanding more from their banks.

This, combined with an increasing competitive environment in the banking industry, has created a new level of customer service from banks; instead of taking their customers for granted, banks are starting to take a more proactive role in caring for individuals and their needs.

• Alliance & Leicester
• Bank of Scotland
• Barclays
• Capital One
• Child Trust Fund
• First Direct
• HSBC
• Post Office
• Tesco Savings

Tags: Bank Accounts, Banking, Banking and Insurance, Credit, Credit Cards