UK banks launch “action day” against financial fraud

Seven in ten (72%) people across the West Midlands are worried about their families falling victim to fraudsters. Yet two thirds (67%) admit they have never discussed the simple steps they can take to protect themselves and those around them from financial fraud. 

New research is released today (16 March) to mark Take Five Day - the first time all the major banks along with building societies and other financial service providers have ever joined together for a national day of fraud awareness activity.

Take Five Day is designed to encourage everyone to find out more about how they can protect themselves from financial fraud and takes place as official figures reveal that £2 million a day - almost £770 million - was lost to financial fraud in 2016.

HSBC - the main sponsor of Birmingham Press Club - is marking Take Five Day by opening the majority of its branches five minutes early and discussing fraud awareness with customers both in branches and on social media, providing Take 5 messages on its ATMs, and on its in-branch radio station.

Katy Worobec (pictured), Director of Financial Fraud Action UK, said: “Research shows that people in the West Midlands are worried about themselves and their families falling victim to financial fraud. On Take Five Day we’re encouraging everyone to talk to others and share the Take Five message - to pause and think before they respond to any financial requests or share any personal or financial details.”

Mike Finnegan, HSBC UK’s Head of Customer Experience, said: “Fraud is getting increasingly complex, with fraudsters using even more convincing and sophisticated techniques, regularly preying on vulnerable people. Talking about fraud with loved ones and the best ways of protecting yourself is an important step in reducing fraud.” 

Take Five Day is part of the Take Five campaign, launched by Financial Fraud Action UK and backed by all major banks and key financial services providers across the UK. It aims to put consumers and businesses back in control with straight forward advice to help prevent financial fraud. 

For advice on how to protect themselves from financial fraud by visiting the campaign website www.takefive-stopfraud.org.uk