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New Fraud Hotline Launched to Protect Consumers from Bank Transfer Scams
Consumers worried they’re being conned can now dial 159 to be connected to their bank and receive advice, in a new pilot scheme to tackle the epidemic of bank transfer scams.
A specialist police unit, the Dedicated Card and Payment Crime Unit (DCPCU), which targets the organised criminal gangs behind fraud prevented £85m being stolen in the first half of this year, according to UK Finance.
Three in four fraud professionals back mandatory reporting about instances of the UK’s most common crime according to a new survey.
In the Royal United Services Institute’s (RUSI) recent report on the state of the UK’s fraud posture, The Silent Threat: The Impact of Fraud on UK National Security, the defense and security think tank succinctly concluded that fraud is considered “everyone’s problem but no-one’s priority.”
Social engineering and authorised push payment (APP) scams have been on the rise. For banks this creates a litany of problems, including compromising customer trust, difficulty navigating repayment schemes, and the changing nature of these attacks.
Major technology companies, including Google, Facebook, Instagram, Twitter, Amazon, Microsoft and TikTok have pledged £1 million to an anti-fraud campaign in the UK
Data from the ONS indicates that online fraud rose by as much as 70 per cent during the pandemic, with the disruption of lockdowns and greater use of online services giving fraudsters new opportunities to strike.
Join us for the launch of our new research report on ‘The mandatory reporting of fraud: Finding solutions and sharing best practice’.
The Government needs to stop pretending the epidemic of fraud sweeping the nation is just a problem for the banks.
The Banking Protocol rapid scam response has helped finance staff to combat more than £32 million of fraud attempts in the first half of this year.
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