• Children Investing In CryptoCurrency
• Treasury Minister Urges Bank Review
• BT Is Discontinuing Its Line Rental Saver Scheme
A report has revealed that nearly a quarter of 13 to 16-year-olds in the UK have invested in cryptocurrency or have plans to do so in order to secure their future. Internet Matters found that approximately 8% of children have already purchased a form of digital currency, while 15% expressed their intention to invest. The primary reason cited for this interest was the desire to ensure financial stability in the future. However, the charity has expressed concern over the level of financial risk involved in crypto trading and the prevalence of scammers in the unregulated market. Simone Vibert, the head of policy and research at Internet Matters, emphasized the need for parents to discuss the risks with their children, while also calling on the government to take action.
Internet Matters has provided several tips to help protect children in this context, including educating oneself about cryptocurrencies and associated risks, advising children to search for potential risks and scams related to specific cryptocurrencies, downloading crypto mobile apps from official stores, encouraging children not to share wallet information, and staying informed about the latest scams and fraud schemes in the crypto space.
In another matter, a Treasury minister has urged a review into whether banks are closing accounts of “politically exposed” individuals. Andrew Griffith, Economic Secretary to the Treasury, emphasized the importance of elected officials and their families being able to access banking services. This comes after Nigel Farage claimed that his accounts were being closed for political reasons, although this decision has been disputed by those familiar with the matter. Financial institutions generally consider politically exposed persons (PEPs) to be at a higher risk of involvement in corruption and bribery due to their positions and influence. Banks are required to conduct additional due diligence on such individuals. Mr. Griffith emphasized the need to strike a balance between preventing money laundering and ensuring that elected officials and their families have access to banking services based on their actual risk.
BT is discontinuing its Line Rental Saver scheme, which offered a discount to customers who paid their yearly home phone and broadband line rental upfront. Previously, households that paid the annual fee of £219.84 received a £19.99 discount. However, from July 21, new sign-ups and customers looking to renew their contracts will no longer be eligible for the discount. Existing customers who have already paid for a year’s line rental upfront will not experience any changes until their current period expires. The prices for broadband and other home phone services will remain unaffected. To assist customers with the transition, BT will provide a minimum £10 bill credit to all Line Rental Saver customers, which will be automatically applied to their BT accounts and can be used towards their next bill.

