Today, the major current account providers are publishing voluntary information, in conjunction with the Financial Conduct Authority (FCA), relating to their fraud prevention processes and procedures. This data (the banking control comparison data) is being made available in order to provide consumers with more information so they can make an informed decision when choosing who to bank with.

UK Finance has worked closely on behalf of its members and with other industry bodies, including the Home Office, the Financial Conduct Authority, the Payment Services Regulator (PSR), the Treasury, and selected consumer groups to address recommendations made by the Public Accounts Committee (PAC) that ?the banking industry should make relative online fraud vulnerability performance data publicly available?.

With the intention of being as transparent as possible, the current account providers have voluntarily agreed to make information relating to the following seven key areas publicly available:

1. What is your approach to fraud prevention?
2. What controls do you have in place / How do we protect you?
3. What do you do to educate your customers to ensure they are fully aware of the latest fraud trends / advice?
4. How and when we would contact our customers?
5. How and when can our customers contact us?
6. Industry initiatives / collaboration
7. Summary

Each current account provider has provided a response to the above categories which are being hosted not only on the FCA's website, but also on each participant bank's website too.. UK Finance hopes that this information will enable consumers to compare how banks protect their customers against fraud, and help them to make better informed choices about their banking provider.