London Daily

Focus on the big picture.
Thursday, Oct 02, 2025

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
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
Nvidia Pledges Up to $100 Billion Investment in OpenAI to Power Massive AI Data Center Build-Out
U.S. Signals ‘Large and Forceful’ Support for Argentina Amid Market Turmoil
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
Vietnam Faces Up to $25 Billion Export Loss as U.S. Tariffs Bite
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Indonesia Court Upholds Military Law Amid Concerns Over Expanded Civilian Role
Larry Ellison, Michael Dell and Rupert Murdoch Join Trump-Backed Bid to Take Over TikTok
Trump and Musk Reunite Publicly for First Time Since Fallout at Kirk Memorial
Vietnam Closes 86 Million Untouched Bank Accounts Over Biometric ID Rules
×