London Daily

Focus on the big picture.
Tuesday, Jun 02, 2026

When banks step in to save fraud victims

When banks step in to save fraud victims

Victims, including some aged over 100, have been targeted by fraudsters before banks stepped in to prevent big losses.

Workers are trained to spot cases, quiz customers and contact police during requests in branches for withdrawals that raise suspicions of a scam.

Banking trade body UK Finance said £19m was saved in the first half of the year and 100 arrests were made.

Coronavirus lockdown has raised fears that some people new to internet banking have become hidden victims.

Known officially as the Banking Protocol, the scheme has prevented victims from losing £116m of fraud and led to 744 arrests since it was introduced three years ago by the industry, trading standards and police forces.

Those targeted by fraudsters are typically aged over 65. Some have been persuaded that they should take out a large sum of cash and hand it over to fraudsters posing as couriers.

In one case, Maureen, from Southampton, received two calls in June from criminals claiming to be from the "fraud squad".

The 74-year-old was told to put £4,700 into an account to allow them to trace her stolen money. The transaction was stopped by counter staff.

In a more recent case in August, a potential victim wanted to send money to "a friend" on an oil rig who did not have access to the internet, and then would pay the money back later.

She was initially unconvinced that the story was a lie but police officers were called and the transaction was stopped.


Romance scams have been a major concern during lockdown


Romance frauds - a particular concern during the loneliness of lockdown - have also been prevented.

Scammers use fake online dating profiles to trick victims into transferring money.

Katy Worobec, managing director of economic crime at 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."


Online risks


Cases have dropped slightly compared with the first half of 2019, owing to many branches being closed during lockdown.

This raised fears that older people using internet banking for the first time may be left vulnerable to scams.

The banking industry is now working with police in a bid to expand the scheme to telephone and online banking.

Officers could visit the homes of vulnerable victims who attempted to make a payment via online or telephone banking that has been highlighted as potentially part of a scam.

Newsletter

Related Articles

0:00
0:00
Close
Japanese Technology Firm Fujitsu Launches Advanced Artificial Intelligence Tool for Corporate Disclosures
South Africa Officially Launches Nationwide Campaign for Highly Contested Local Government Elections
United Kingdom Commits Additional Funding for Unexploded Ordnance Clearance in Laos
Singapore Announces Stringent New Greenhouse Gas Regulations for Commercial Cooling Systems
Cambodia and Thailand Hold High-Level Border Security Talks at United Nations Headquarters
Myanmar Military Government and China Sign Major Agreement to Upgrade Media and Cultural Cooperation
Knife Attack at Swiss Train Station Leaves Three Injured in Suspected Act of Domestic Terrorism
Transnational Extortion Gang Threatens Canadian Police With Army of One Thousand Armed Operatives
Australia Imposes Forty-Two-Day Quarantine on Cruise Ship Passengers Following Deadly Hantavirus Outbreak
International Monetary Fund Unlocks Seven Hundred Million United States Dollars for Sri Lanka Following Economic Reforms
Australia Launches Record One Point Four Billion Dollar Lawsuit Against Chemical Giant 3M Over Contamination
China and Canada Foreign Ministers Meet in Ottawa in Effort to Stabilize Strained Diplomatic Ties
Indonesia Demands Urgent United Nations Security Council Reform Amid Escalating Global Conflicts
Extreme Weather Patterns Trigger Severe Drought in Madagascar and Destructive Flooding in East Africa
Indian State of Karnataka Faces Political Upheaval as Chief Minister Siddaramaiah Abruptly Resigns
Philippines and Japan Reaffirm Defense Ties as Crucial for Indo-Pacific Regional Stability
Norway Joins French Nuclear Deterrence Initiative in Major Shift for European Security Architecture
Global Critical Mineral Alliances Expand as Western Nations Move to Counter Chinese Supply Dominance
United States Imposes Fifty Percent Tariffs on Mexican Steel and Aluminum Ahead of Trade Pact Review
European Union and China Head Toward Major Trade Conflict Over Clean Technology Exports
United States Economic Growth Severely Downgraded to One Point Six Percent as Stagflation Fears Mount
World Health Organization Warns Central African Ebola Epidemic is Outpacing Containment Efforts
United States Treasury Department Conditions Sanctions Relief on Reopening of the Strait of Hormuz
Iranian Air Defenses Intercept and Destroy United States Military Drone Over Bushehr Province
Iranian Armed Forces Launch Ballistic Missiles Toward Unspecified Targets Prompting Regional Condemnation
United Nations Secretary-General Warns Global Order Facing Highest Level of Conflict Since 1945
Israel Issues Sweeping Evacuation Orders in Southern Lebanon Amid Intensified Hezbollah Conflict
Russia Announces Systemic Military Strikes Targeting Ukrainian Defense and Energy Infrastructure
United States and Iranian Negotiators Reach Draft Agreement to Extend Ceasefire and Resume Nuclear Talks
United Nations Security Council Deeply Divided Over United States Capture of Venezuelan President
US and Iran Exchange Direct Military Strikes Amid Fragile Gulf Ceasefire
World Health Organization Warns of Catastrophic Ebola Outbreak in DR Congo
Russia Threatens New Wave of Strikes on Ukrainian Infrastructure and Embassies
Scientists Warn Atlantic Ocean Currents Could Collapse Faster Than Projected
Anthropic Reaches $900 Billion Valuation in Historic AI Funding Round
Washington Imposes Crippling Sanctions on Iranian Maritime Authority
Japan and the Philippines Initiate Strategic Intelligence-Sharing Pact
Microsoft Deploys Autonomous Computer-Using AI Agents to Global Markets
Anthropic Secures $45 Billion Compute Infrastructure Agreement With SpaceX
U.S. Director of National Intelligence Resigns Amid Administration Shakeup
Micron Technology Crosses Trillion-Dollar Valuation Amid Unprecedented Hardware Demand
Canada and Germany Finalize Historic Long-Term LNG Export Agreement
China Expands International Travel Restrictions on Domestic AI Researchers
Japan Approves Sweeping Overhaul of National Intelligence Apparatus
Global Airlines Scramble Logistics as Middle East Airspace Remains Fractured
Japan's Naphtha Imports Plunge 47 Percent Amid Strait of Hormuz Closure
Global Crude Prices Retreat Below $96 as Gulf Tensions Momentarily Ease
Generative AI Outperforms Human Baselines in Landmark Global Creativity Study
NASA Partners With Private Aerospace to Unveil Permanent Lunar Base Architecture
South Korean Equity Markets Surge on Next-Generation Memory Chip Frenzy
×