January 19, 2017

Commenting on the publication of crime figures by the Office for National Statistics today (Thursday, 19 January 2017), Katy Worobec, Director of Financial Fraud Action UK, said: “Banks work extremely hard to protect their customers and stopped £6 in every £10 of attempted fraud in the first half of 2016.

“The industry is continually evolving its response to fraud as it develops, investing in new detection and verification tools. While the industry invests in new systems to stop the criminals, fraudsters are increasingly targeting people directly, so customers and businesses need to be alert to the threats posed by the continued rise in impersonation scams attempting to trick them out of their personal details and money. It’s vital for everyone to follow the advice of our Take Five campaign to pause and think before they respond to any financial requests and share any personal or financial details.

“The industry takes its responsibility to combat fraud extremely seriously, but banks cannot stop all fraud on their own. It is essential all organisations with a role to play work together to better protect individuals and companies. We are working with law enforcement and government, particularly through the Joint Fraud Taskforce.”