Take five to stop fraud

Every year, serious and organised crime costs the UK economy an estimated £24 billion. In the UK, fraud is the most prevalent crime, with an estimated 1.7 million incidents of fraud in 2016, and UK card fraud losses of an estimated £768 million (Financial Fraud Action UK).

Even though total losses from bank fraud in the UK fell by 8% in the first half of 2017 compared to 2016, there were nearly a million cases of financial fraud. And remote banking fraud, when criminals use an internet, phone or mobile banking account to make an unauthorised transaction, went up by 3% to £73.8m.

The Take Five campaign

Take Five is a national awareness campaign that offers advice to help consumers prevent financial fraud. This includes email deception and phone-based scams, as well as online fraud - particularly where criminals impersonate trusted organisations.

The campaign is backed by Financial Fraud Action UK, part of UK Finance, HMG via the Home Office and a range of partners including banks, building societies, law enforcement agencies, commercial, public and Third Sector organisations.

What can you do?

Encourage your client to stop and think.

There are ways your client can confidently protect themselves from fraud, which starts with taking five seconds and remembering a simple message 'My money? My info? I don't think so'.

Here are some top tips you can share:

  • A genuine bank or organisation will never contact your client out of the blue to ask for their PIN, full password or to move money to another account. They should only give out their personal or financial details to use a service they have given their consent to, that they trust and are expecting to be contacted by.
  • Your client shouldn't be tricked into giving a fraudster access to their personal or financial details. They should never automatically click on a link in an unexpected email or text.
  • They should always question uninvited approaches from companies in case it's a scam. They can contact a company directly using a known email or phone number.

For more tips, encourage your client to visit the Take Five website.