Nationwide Building Society has announced further support to help protect members from falling victim to Authorised Push Payment (APP) scams.
The firm is enabling users to check a payment they are worried about either in the branch or by calling. Furthermore, Nationwide’s colleagues are trained to spot the signs of economic crime and routinely stop members from falling victims to scams.
Engaging with members gives them time to stop and think before completing a payment and forms an essential part in educating members on the warning signs of economic crime. This intervention forms the basis of the Scam Checker Service.
Nationwide’s data shows that speaking to members before they make a payment could help identify and stop up to two thirds (65%) of attempted scams each year.
Joe Garner, Chief Executive of Nationwide Building Society, commented on the steps being taken: “Success is not just ensuring victims are reimbursed – but also preventing these crimes happening in the first place.
“That’s why we are introducing our scam checker service to help prevent our members being scammed. We’re also calling on the big tech, telecoms and social media companies that play host to these crimes to take more responsibility for stopping them. We must work better together in the mutual interest of fighting this criminal activity.”
The new service will work alongside existing fraud and scam prevention measures. Members will still be able to check the name on a new payee account using Confirmation of Payee (CoP).
They will also still receive appropriate scam warnings and guidance when they make payments online or via the App, prompting them to stop and think before proceeding with their intended transaction. The Society will continue to educate members on the scams, which includes online and in-branch resources, as well as advice at Member Talkback events.
