Finance Sector, Police Stop £32M In UK Fraud In Six Months

By Lucia Osborne-Crowley (September 7, 2021, 12:42 PM BST) -- Staff at banks and building societies helped to prevent £32 million ($44 million) worth of financial scams in the first half of 2021 by placing emergency calls to police after spotting red flags, a trade body said on Tuesday.

UK Finance said that staff at banks, building societies and post offices made more than 4,700 emergency calls between January and June 2021, helping to stop customers losing what would have been an average of £6,672 each to criminals.

The calls were made to police under the so-called Banking Protocol scheme, which sets up lines of communication between finance firms and police for the purpose of...

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