“The biggest problem with fraud is education. People don’t know enough about it until they fall victim and by then it is too late.”
This is what I am told by a fraud worker at one of TSB’s call centre in between listening to calls she receives from a range of people who are either a victim of fraud, possibly committing fraud themselves or simply trying to unblock their cards.
I’m here to find out exactly how banks are tackling the ever rising threat of fraud and hear firsthand how it affects people.
Fraud is certainly getting more prevalent with losses due to unauthorised transactions on cards, cheques and remote banking increasing to £398.6million in the first half of this year, up 7 per cent on the previous year, according to UK Finance.
Meanwhile, total losses due to authorised push payment scams increased to £355.3million in the first half of 2021, up 71 per cent compared to the same period in 2020, highlighting the risk to consumers across the UK.
I speak to a variety of staff members at TSB’s centre, all in different roles but all working towards stamping out fraud. Below i reveals what TSB is doing to stop fraud, the challenges it faces and what consumers can do to protect themselves.
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Types of fraud
One of the first people I speak to is Paul Davis, the director of fraud at TSB, who tells me, whilst there is a large number of different scams, fraud is generally put into three categories.
There is “plastic” which is fraud…
