For many people, thinking about a fraudster may conjure up images of a pickpocketing Fagin character. But the reality is the face of fraud has changed and the organised criminals behind it have become far more sophisticated.

Last week we published our latest fraud data which showed losses due to financial fraud in the first half of 2017 were down 8 per cent year-on-year. It's good news but the banking industry is acutely aware there is much still to do to beat the fraudsters.

Behind the data, the intelligence shows that criminals are increasingly using compromised personal and financial information to carry out their crimes. To steal these details, fraudsters are using complex tactics such as online attacks, like data hacks, and impersonation scams directly targeting customers.

The finance sector takes this changing threat extremely serious and banks are constantly refining their security systems which already stop £6.70 in every £10 of attempted fraud. At the same time, we are working with government and law enforcement, through the Joint Fraud Taskforce, to bring our collective powers to bear.

With fraudsters increasingly conning customers into divulging their details through scam phone calls, texts and emails, it's vital the industry also does all it can to help people know how to stay safe.

Today we are joining forces with the government to launch the next phase of our Take Five to Stop Fraud campaign. Its aim is to help customers recognise the scams and confidently challenge any requests for their personal or financial details by remembering the phrase ?My money? My info? I don't think so?.

Criminals can be extremely convincing and will try to take advantage of the busy lives we all lead by catching us off guard. It might be a quick phone call pretending to be from your bank claiming there's been fraud on your account, a text message offering a tax refund if you just give a few details or an email supposedly from your plumber asking you to change some payment details. They?re all scams fraudsters use, and through Take Five campaign we aim to help customers to beat them.

The effects of fraud stretch far and wide. It's more than just a banking issue, it's something which the whole of the UK must come together to tackle. Whether it's a high-street retailer, a technology giant or a utility company, everyone has a part to play.

Right now, across the finance industry, everyone is focussed on combating the evolving nature of fraud. The next phase of Take Five to Stop Fraud is a central part of our armoury and we invite you to join us.