Bank branch response scheme prevents victims losing £38m to fraud in 2018

  • Banking Protocol rapid response scheme prevents £38m in fraud and enables 231 arrests in 2018
  • 4,240 emergency calls made through the industry-wide scheme last year, preventing an average of £8,960 per call
  • November 2018 saw over £4.5m of fraud prevented, the highest monthly total so far
  • Average age of a customer helped through the scheme was 71

A new rapid response scheme by banks and the police has prevented potential fraud victims from being scammed out of £38 million in 2018, figures published by UK Finance1 have revealed.

The Banking Protocol trains bank staff to spot when someone is about to fall victim to a scam and try to prevent them from withdrawing cash to give to a fraudster, after which they can request an immediate police response to the branch. A total of 231 arrests and 4,240 emergency calls were made through the industry-wide initiative last year, with an average of £8,960 being prevented per call.  

The latest figures reveal that in total the scheme has prevented £48 million of fraud and led to 408 arrests since it was first introduced in October 2016. £4.5 million of fraud was prevented through the initiative in November 2018 alone, the highest monthly total to date, as adoption of the scheme continues to grow. The average age of a customer helped by the Banking Protocol last year was 71, showing how fraudsters are often targeting more elderly victims with these types of scams.

52 payment service providers, including all the main high street banks and the Post Office, are now fully signed up to the Banking Protocol and have trained up their front-line branch staff in the steps that need to be taken when a customer is at risk. Since March 2018, the scheme has been implemented by all 45 police forces across the UK.

The initiative, which was developed in partnership with National Trading Standards, trains bank branch staff to spot the signs of a scam and what steps need to be taken when a customer is deemed at risk. If a staff member suspects a customer is being tricked by a fraudster, for example if someone is making an unusually large cash withdrawal, they will take them aside to ask additional questions. If their suspicions are confirmed, the staff member can then invoke the Banking Protocol and contact the local police, who will send a priority response to the branch and investigate the suspected fraud.

As well as stopping attempted fraud, the scheme ensures that extra support is provided to those customers affected to help prevent them falling victim to similar scams in the future. This can include referrals to social services, expert fraud prevention advice and additional checks on future transactions.

Katy Worobec, Managing Director of Economic Crime, UK Finance, commented:

Bank branch staff are on the front line in the fight against fraud, as increasingly sophisticated gangs target consumers directly and trick them into withdrawing large sums of cash.

This rapid response scheme is giving bank staff the tools they need to protect vulnerable customers from scams, while helping local police catch fraudsters and bring them to justice.

The banking industry will keep taking action on all fronts to combat fraud, working closely with our partners in law enforcement to crack down on the criminal gangs responsible.

Head of the City of London Police's Economic Crime Directorate, Commander Karen Baxter, said:

The scale and borderless nature of fraud means we need to find new and innovative ways to protect the public and deter criminals. 

The Banking Protocol is a key example of this and shows how partnerships between policing and the private sector are being used to protect the public from falling victim to fraud.

These statistics show that the scheme has already prevented millions of pounds being lost to fraudsters and as the national lead force for fraud, the City of London Police will continue to combat this crime type.

Louise Baxter from the National Trading Standards Scams Team said:

Scams target the vulnerable and leave victims feeling isolated and alone. The fight against scams starts on the ground, so I?m delighted to see the Banking Protocol has been so successful in 2018.

Bank branch staff should be commended for their hard work, spotting and looking out for scams amongst their customers. We look forward to continuing to work closely with our partners on providing support to potential victims to take a stand against scams.

Area of expertise:

Notes to editor

For more information please call the UK Finance press office on 020 7416 6750 or email <a href=""></a></p&gt;

Figures are based on data provided to UK Finance by all 45 police forces across the UK participating in the Banking Protocol scheme. Case studies on use of the Banking Protocol are available on request.</li>
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UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, it seeks to enhance competitiveness, support customers and facilitate innovation.</li>
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Since March 2018, the Banking Protocol scheme has been implemented across all 45 police forces across the UK. UK Finance is now engaging with police forces in the Isle of Man, Jersey and Guernsey to roll out the initiative as soon as possible.</li>