A new campaign aims to help prevent financial fraud

Published 3 October 2016

A new campaign has been launched by Financial Fraud Action UK which aims to put the public and businesses back in control with straight forward advice to help prevent financial fraud.

Banks and other financial service providers work hard to protect their customers, and last year, stopped £7 in £10 of attempted fraud from happening. But, as the banks’ systems get more advanced, fraudsters turn their attention elsewhere and sadly this often means tricking people out of their personal details and money. However, the public can play an important part in protecting themselves and helping to stop financial fraud, which is why Financial Fraud Action UK has launched the Take Five campaign which provides the public with straight forward crime prevention advice.

Backing the campaign, Home Office Security Minister Ben Wallace, said: “The impact of financial fraud can be devastating on victims, with fraudsters using increasingly cunning and convincing tactics. They prey on people who are trying to get on with their lives but in a moment where they are busy or distracted become vulnerable. The message of the Take Five campaign is don’t be hurried or hustled, take a moment before you give out any personal information. At the same time, the Government is working closely with law enforcement and the banking sector through the Joint Fraud Taskforce to take action to stop the organised criminals behind financial fraud.”

The campaign explains some of the most common financial frauds which directly target customers such as email deception (known as phishing) and phone and text-based scams (sometimes known as vishing and smishing). It will also help protect people from criminals duping them into moving money into bank accounts controlled by the fraudsters. The campaign also encourages the public to take a moment to pause and think before they respond to any financial requests and share any personal or financial details.

The Take Five campaign is asking consumers to help protect themselves from financial fraud by remembering some simple advice:

  1. Never disclose security details, such as your PIN or full password - it’s never right to reveal these details
  2. Don’t assume an email request or caller is genuine - people aren’t always who they say they are
  3. Don’t be rushed – a bank or genuine organisation won’t mind waiting to give you time to stop and think
  4. Listen to your instincts – if something feels wrong then it is usually right to pause and question it
  5. Stay in control – have the confidence to refuse unusual requests for information

You can find out more about the campaign and fraud prevention advice by visiting Financial Fraud Action UK's dedicated campaign website.

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