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Bank charges: Rogue traders taking advantage of consumer need to save money

People across Britain may have ended up with bank charges after being taken advantage of by rogue traders that are targeting consumers who are looking to save money.

Citizens Advice Bureau has reported that there has been an "unprecedented boom" in scams that exploit people's need to save money.

Gillian Guy, chief executive of Citizens Advice, commented on the increase in these rogue traders at the Trading Standards Institute conference in Bournemouth.

She said: "Con merchants have never had it so good. The recession has provided an opening for money-making scams and sharp practices disguised as sources of help.

"Rogue traders are taking advantage of consumers desperate to find ways of saving money, earning more, getting a job or finding somewhere affordable to live."

Ms Guy called for advice, enforcement and regulation so that fraud and scams can be stamped out.

Citizens Advice claims there are a number of areas that rogue traders are targeting, including jobs and training schemes, bill saving and debt reduction.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.

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