London Daily

Focus on the big picture.
Friday, Oct 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
Scottish Court to Rule on Bid to Force No-Confidence Vote Against Aberdeen Council Co-Leader
UK Bans Extra Charges for Seating Children Under 12 Beside Accompanying Adults
UK Introduces Vaping Duty and New Licensing Requirements
Greggs to Close Four UK Factories and Cut 740 Jobs
Hundreds of Prisoners Released Early as England and Wales Prisons Reach 98% Capacity
UK Unveils New Russia Sanctions Targeting War Funding and Shadow Fleet
Burnham Says There Are Strong Indications of Iranian Involvement in RAF Fairford Security Breach
Prime Minister Andy Burnham Raises Prospect of Reviewing Britain's Post-Brexit EU Relationship
Markets Price in Bank of England Rate Increases as Inflation Rises to 3.1%
UK Borrowing Costs Climb Toward 5.5% as Global Bond Sell-Off Intensifies
UK-France One-In-One-Out Migration Agreement Expires as London Seeks Alternative Measures
Southwest England Faces Flood Alerts After Heavy Autumn Storms
UK Expands Funding for Rapid Electric Vehicle Charging Infrastructure
Welsh Government Approves Funding to Upgrade South Wales Transport
Northern Ireland Tensions Rise as Orange Order Rejects Drumcree Compromise
NHS Leaders Back Early Design of Proposed National Care Service
More Than One-Third of Regional UK Universities Face Financial Deficits
UK Current Account Deficit Narrows as Cross-Border Financial Flows Remain Strong
Bank of England and FCA Issue New Rules for Stablecoins and Digital Assets
MI5 Warns UK Universities Over Research Links With Chinese Institutions
UK Energy Price Cap Rises 4% as Electricity VAT Is Temporarily Suspended
Equity Calls for UK Personality Rights to Protect Performers From AI Replication
OpenAI Pauses Advanced Model Training Following Safety Concerns
Scottish Government Proposes Replacing 32 Councils With Larger Regional Authorities
Ofgem Raises UK Household Energy Price Cap by 4% From October
UK Counter-Terrorism Police Continue Investigation After Five Arrests Near RAF Fairford
OECD Cuts UK 2027 Growth Forecast to 1%
Labour Says State Pension Triple Lock Remains Protected Through Current Parliament
Andy Burnham Pledges National Care Service With Free Social Care in England
Six Flags Permanently Shuts Landmark X2 Roller Coaster Following Safety Scandals
Metropolitan Police Rule Out Terrorism in Golders Green Stabbing Investigation
Lithium-Ion Battery Identified as Cause of Fatal Merseyside House Fire
UK Department Rejects New Sea Use Framework Due to Stakeholder Fatigue
Major Thames Water Pipe Burst Causes School Closures in London
Aldi Commits £900 Million to Expand UK Supermarket Network
Scottish Affairs Committee Warns Skills Shortages Threaten Defence Sector Expansion
Parliamentary Committee Warns Northern Ireland Budget Deadlock is Stalling Economic Growth
NHS Hospitals in England Face Severe Shortages of Essential Medications
Home Secretary Signals Major Overhaul of UK Immigration and Leave to Remain Policies
Chancellor Promises New Job Schemes Alongside Strict Fiscal Discipline
Energy Secretary Proposes Taxpayer-Funded Green Transition and National Electricity Grid
UK Government to Renationalise Avanti West Coast Railway Franchise in March
Prime Minister Andy Burnham Pledges Major Social Care and Infrastructure Reforms
Five Suspects Released on Bail Following Alleged Bomb Plot Near RAF Fairford
UK Diesel Prices Hit Record High of 199p Per Litre
Transport for Wales and Network Rail Complete Electrification of South Wales Metro
Defra Expands Incentives for Sustainable Farming and Biodiversity in England
Northern Ireland Executive Approves Funding Package to Resolve Public Sector Pay Disputes
Universities UK Warns of Financial Insolvency Risks for Higher Education Institutions
UK Prisons Activate Emergency Protocols to Manage Capacity Pressures
×