Bank branch staff helped prevent fraud worth £19m in first half of 2020
BANK branch staff stopped £19m of fraud in the first half of 2020 through a scheme that alerts police to suspected scams.
In total, the UK-wide Banking Protocol scheme has prevented victims from losing £116m to fraud and led to 744 arrests since it was introduced three years ago by trade association UK Finance, National Trading Standards and local police forces.
Between January and June 2020, £19.3m worth of fraud was prevented and more than 100 arrests were made.
Customers helped through the initiative are typically aged 65 or above, with some over 100 years old.
A range of scams attempting to trick elderly and vulnerable customers into withdrawing cash from their branch have been prevented, including courier scams, romance fraud and rogue traders.
Under the Banking Protocol, bank branch staff alert their local police force when they suspect a customer is about to be scammed.
Police will then visit the branch to investigate and arrest any suspects still at the scene.
The scheme is often used to prevent impersonation scams, in which criminals imitate police or bank staff and convince people to visit their bank and withdraw or transfer large sums of money.
These can include courier scams, where those targeted are persuaded to take out a large sum of cash and hand it over to a fraudster posing as a courier. They can also include “safe account” scams, where the victims are told their money is not safe in their account and should be transferred.
The initiative has also been used to prevent romance frauds, where scammers use fake online dating profiles to trick victims into transferring money, and to catch rogue traders who demand cash for unnecessary work.
Branch staff are trained to spot the warning signs that suggest someone may have fallen for one of these scams and make an emergency call to the police.
Some 3,250 calls have been made in the first six months of this year through the scheme, including 637 in June.
Katy Worobec, managing director of economic crime, UK Finance, said: “It is sickening that criminals are preying on elderly and vulnerable victims during this difficult time. Bank branch staff on the front line are doing a heroic job in stopping these cruel scams and helping bring those responsible to justice.
“The banking industry is now working with police forces to expand this scheme to telephone and online banking, with a focus on protecting vulnerable customers.
“It’s vital that people always follow the advice of the Take Five to Stop Fraud campaign, and remember that a bank or the police will never ask you to transfer funds to another account or to withdraw cash to hand over to them for safekeeping.”
Commander Clinton Blackburn, from the City of London Police, the lead force for fraud, said: “Banks are often the first point of contact when someone is about to fall victim to fraud, so the banking protocol is a vital way of protecting vulnerable victims and preventing criminals from taking advantage of them.
“Having a system in place where an immediate police response can be generated to a suspected fraud allows officers to gain vital evidence and increases our chances of catching the criminal in person, or following the money trail right to their door.”
Those assisted by the scheme are offered support to help prevent them falling victim to scams in future, including through referrals to social services, fraud prevention advice and additional checks on future transactions.
In the first six months of this year, 1,149 potentially vulnerable adults were identified.
Discussions are also under way to expand the scheme to cover attempted bank transfers made by customers through telephone and online banking.
This would enable bank staff at call centres to notify police when certain attempted bank transfers are being made which they believe may be due to scams. The Take Five to Stop Fraud campaign urges people to remember that criminals are experts at impersonation.