New anti-fraud guides aim to protect consumers

Tuesday, 16 February 2010 12:00

By myfinances.co.uk staff

New guides aimed at protecting consumers from falling victim to common types of fraud have been published by the British Bankers' Association (BBA).

The organisation, which represents the country's high street banks, has worked on the factsheets in partnership with Financial Fraud Action UK and the Serious Organised Crime Agency.

Seven additional handbooks have been produced to help bank staff safeguard vulnerable customers.

The consumer guide include a general 12-point plan for avoiding becoming a victim of fraud, plus specific advice on protecting against online, identity, payment card and cheque fraud.

Richard Cook of the BBA said: "Financial crime may be invisible in its execution but it is just like any other kind of theft and our factsheets set out some sensible precautions we can all take to help ourselves."

Figures from fraud prevention service Cifas show recorded cases of fraud increased by nine per cent in 2009 compared to the previous 12 months, mainly due to a 31 per cent rise in identity fraud.

Last month, the National Fraud Authority estimated that fraudulent activity costs the UK £30 billion annually.

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