OVER £2.3 MILLION STOLEN THROUGH CORONAVIRUS-RELATED SCAMS

Fraudsters have stolen more than £2.3 million from households targeted by coronavirus-related scams according to Action Fraud (Daily Mail, p43, print only). According to The Sun (online only), criminals are targeting supermarket customers with new phishing scams linked to the coronavirus. Customers are told that they are able to claim a voucher to help pay for the cost of their groceries by clicking through a link in the email. According to the Daily Express (online only), hundreds of copycat streaming websites have also emerged, asking for customers? data such as bank or credit card details.

UK Finance is urging people to follow the advice of the Take Five to Stop Fraud campaign and remain vigilant against criminals using the publicity around coronavirus to target their victims. Consumers are reminded to avoid clicking on any links contained within text messages or emails and remember that criminals are experts at impersonating people, organisations and the police.

FURLOUGH SCHEME COULD BE EXTENDED FOR SOME WORKERS

Workers in the parts of the economy worst affected by coronavirus could be furloughed for longer than others under Treasury plans to gradually remove taxpayer wage support (The Times, p2, £). The job retention scheme, where the taxpayer pays 80 per cent of the wages of furloughed staff up to £2,500 a month, has already been extended by a month but is due to end on 30 June. The emergency measures could take government borrowing to £300 billion this year, leaving public finances at their most vulnerable since 1963.

The Chartered Institute of Personnel and Development (CIPD) said the coronavirus job retention scheme needs to be made more flexible to allow furloughed staff to work reduced hours (The Guardian, online only). CIPD reported that seven in ten firms that have already furloughed staff said up to half their employees could work reduced hours if the scheme allowed.

Separately, more than 30 million workers in Europe's five biggest economies have applied to have their wages paid by the state via short-term leave schemes (Financial Times, p4, £, print only). According to data collected by the Financial Times, the number of furloughed workers in Germany, France, the UK, Italy and Spain amounts to nearly a fifth of those countries? total workforces.

NEWS IN BRIEF

Coronavirus will hasten the decline in the use of cash as people make a long-term switch to digital payments, although around £11 million of cash withdrawals are still being made each week according to (BBC).

The British Property Federation has begun talks with the Treasury to secure more support for landlords losing billions of pounds in lost or deferred rent (The Times, p33, £).

UK stocks have risen for a third straight day as investors are optimistic over a revival in business activity after several countries begin easing coronavirus lockdowns (Reuters).

The Institute of Economic Affairs (IEA) predicts the coronavirus pandemic will last for up to two years and come in a series of waves. The IEA says the pandemic could have ?massive long-term social, economic and psychological effects? (The i, p5).

COVID-19 - THE LATEST

LATEST BLOGS

Jackie Barodekar, Director of Cards and Consumer Credit at UK Finance, writes about the latest on Section 75 and chargeback rights in relation to travel.