Prevent, Protect and Pursue – how our partner TSB is fighting fraud

As part of its fraud strategy, Crimestoppers partner TSB is running a series of free workshops to help communities spot, stop and stay safe from fraud. Ashley Hart, TSB’s Head of Fraud (pictured below), explains how it works…

Fraud is a serious crime. It’s growing at a frightening rate – despite our best efforts to stem the tide. It’s the crime of our generation. Over a three-year period, fraud in the UK has increased by an estimated 60%. And we know that the true figure will be much higher, as victims are often too embarrassed to report the crime.

Tackling such a serious and widespread issue needs a strong and coordinated response. TSB has a simple fraud strategy: Prevent, Protect and Pursue – and we work in partnership with the rest of the financial services industry, broader industry, charities like CrimeStoppers and law enforcement agencies to make a difference.

Prevention is the key to many problems, and fraud is no different. Of course, like other institutions, TSB operates complex fraud prevention systems that monitor accounts for suspicious activity – but we need to be more proactive, and that’s why we run fraud awareness sessions across the UK. Helping our communities to stay safe is vital, and we continue to invest time and resources into visiting care homes, schools, community halls and hospitals – as well as hosting events in our branches – to share the knowledge that we have.

Protection is vital too. Sadly, we know that fraudsters get smarter, and the scams get harder to detect, every single year. Victims are no longer the people that you’d expect. We see every demographic being targeted; from CEOs of major financial institutions to vulnerable customers being scammed by the very people who were supposed to be looking after them. Despite our best efforts, it can happen to anyone; and when it does, it’s our job to look after those customers. That’s why TSB launched the Fraud Refund Guarantee. We’re the only bank that will guarantee to repay your losses if you’re an innocent victim of fraud on your TSB account. Because our customers trust us to look after their money, and we take that trust very seriously.

Finally, the importance of pursuit cannot be underestimated. Fraud (like many other crimes) is not something that you can arrest your way out of. That’s why we put so much effort into prevention. However, committing fraud must have consequences. If someone tries to defraud our customers, we will work tirelessly to hunt them down and bring them to justice - to answer for the crime that they’ve committed, and the hurt that they’ve caused a victim.

To make that happen,  we partner directly with law enforcement on the frontline as they police our communities. We’ve supported the Metropolitan Police Service with funding to target known fraudsters, as well as devising new, innovative, ways to fight this crime. We’ve purchased equipment for the fraud team at Hertfordshire Constabulary – supporting them with the tools they need to identify, arrest and prosecute fraudsters. And we support numerous other police forces across the UK with training and intelligence sharing.  We also partner with the independent charity Crimestoppers to help us reach out to new communities and ensure that together we are keeping them safe.

Fraud is not a victimless crime – it’s a tool of organised gangs, who use the funds that they steal to bring drugs, violence and other crimes to our streets. Tackling fraud is not only a financial imperative, it’s a moral one. And that’s why TSB is committed to making a difference.

Get involved:

Workshops are happening in TSB branches up and down the UK - please speak to one of our Partners in branch to find out more:

Cheapside – 22 October
Kirkcaldy - 18 November
Stourport-on-Severn - Date TBC
Manchester - 14 January
 
If you can’t come to one of our events, go to our fraud prevention centre to find our top tips and other advice to help keep you safe from fraud.