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More than £10,000 saved in joint finance industry and police scheme to tackle fraud

13 Dec 2017

A national fraud prevention scheme, which involves bank staff working with Bedfordshire Police, has enabled the force to stop more than £10,000 being passed to criminals since October. 

The Banking Protocol delivers training to all bank and building society staff so they can spot the signs that a customer may be withdrawing cash to give to a scammer, and pass the information on immediately to police.  

The scheme developed as a partnership between the finance industry, law enforcement and Trading Standards and was launched nationally in May, following a successful pilot in London. It is now in place in 43 police forces across the country and was launched in Bedfordshire in October.  

Since the launch, the force has investigated four incidents and saved customers from losing £10,120. 

Nationally the Banking Protocol has prevented £9.1 million of fraud since the pilot launched in October 2016. Individual customers have been protected from losing sums from £99 up to £212,000 and the scheme has led to 101 arrests being made across the country, with police responding to a total of 1,262 Banking Protocol calls.

Sean O’Neill, Security Advisor for Bedfordshire Police, said: “Having the Banking Protocol is a very useful tool in our fight against fraud. We would like to thank bank and building society staff who we have worked with so far in ensuring these victims of fraud haven’t lost out.”

Katy Worobec, Managing Director of Economic Crime at UK Finance, said: “Fraud can have a devastating effect on some of the most susceptible people in society and it’s by working together with law enforcement, and others, that we can make a real difference when it matters most. The Banking Protocol is a great example of this collaboration in action protecting people from becoming victims. The finance industry is determined to crack down on fraud and is taking action on all fronts - the Protocol is an important weapon in our armoury.”

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