Security Minister Tom Tugendhat welcomed the banking industry’s victim checklist recommendation at the latest Joint Fraud Taskforce session.
The Joint Fraud Taskforce was relaunched back in October 2021 and consists of cooperative efforts between the Government, law enforcement and the private sector.
The meeting hosted the announcement that member organisations have developed a new fraud victim checklist with the hopes of setting an example for other industries to follow when supporting victims of fraud.
Besides the Chairman Minister Tugendhat, other attendees included the likes of Minister for Tech and the Digital Economy Paul Scully and Treasury Lords Minister Baroness Penn.
Tugendhat said: “I was delighted to lead a discussion of the renewed Joint Fraud Taskforce today, meeting with industry leaders to discuss how we can work together to fight fraud and provide better support for victims.
“Fraud is a hidden tax on people across our country and is a national security problem too. It funds criminal states and drug dealers and many more. I’m determined to fight it.
“The banking industry has risen to that challenge and set a clear benchmark, which I am keen to see rolled out across other industries. Many phone companies have done the same, we need the tech firms to follow.”
The checklist ensures that adequate and consistent support is given to any victim who reports fraud, regardless of their banking choice. Bank and building society staff will be equally equipped to provide guidance on crime reporting, refund options and additional services.
David Postings, Chief Executive of UK Finance, commented: “Fraud has a devastating impact on victims, and the money stolen funds serious organised crime. The industry’s primary focus is on stopping these scams happening in the first place and banks have invested heavily in advanced technology to protect customers.
“UK Finance supports the commitment from the Joint Fraud Taskforce to deliver consistent fraud advice to consumers, meaning that all victims of fraud have the same information.
“The industry is also delivering consistent and concerted fraud messaging through the Take Five to Stop Fraud campaign. We urge everybody to follow the Take Five advice and to always contact their bank immediately if they think they have fallen victim to a fraud.”
Adding on to Postings’ words, James O’Sullivan, Policy Manager at the Building Societies Association, said: “This checklist will ensure that consumers receive the same guidance when they report a fraud on their bank or building society account, irrespective of who their provider is. It’s a helpful step which is part of the bigger and ever evolving fight against fraud and the criminals that perpetrate it.”