Bank Employees Halt £19M Of Fraud In 2020, Data Shows

Law360, London (September 9, 2020, 1:02 AM BST) -- Employees at banks in the U.K. protected would-be victims from financial fraud valued at £19 million ($24.9 million) in the first six months of 2020, a trade group representing financial services said Wednesday.

UK Finance said that bank staff, who can point out suspicious transactions to police under a new program called the banking protocol, stopped £19.3 million of account-holders' money being stolen between January and June. Their reports led to 100 scammers being arrested in those six months, UK Finance said.

"Banks are often the first point of contact when someone is about to fall victim to fraud, so the banking...

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