Lloyds Bank is urging customers to stay alert after warning that fraudsters are becoming increasingly active in the weeks leading up to Christmas.
The high street bank, part of Lloyds Banking Group, says that any customer could be targeted at any moment, with scams now becoming more sophisticated and harder for the public to spot.
The banking giant, which has branches across Birmingham and the wider UK, is expanding its long-running fraud-prevention scheme to help protect people from criminal networks.
Now in its fourth year, the initiative uses money seized from scammers by Lloyds’ specialist teams and reinvests it into UK projects designed to stop fraud and support victims.
By the end of this year, the financial institution expects around £15 million of frozen criminal funds to have been channelled back into protecting the public.
The scheme is delivered alongside the City of London Police and several fraud-fighting organisations, forming a wider national push to reduce scams targeting UK banking customers.
Why is Lloyds expanding Anti-Fraud Measures?
Minister for Fraud, Lord Hanson, said the risk of being tricked by criminals remains real for everyone, regardless of age or experience.
He said, “Fraud is a crime that can affect anyone, at any time. That’s why our Stop! Think Fraud campaign urges everyone to pause before sharing any personal information.
But tackling fraud takes teamwork. By joining forces with businesses like Lloyds, we’re showing that we can stay one step ahead of scammers together.
Our expanded Fraud Strategy will go further by building stronger partnerships with the industry to protect the public.”
How Lloyds Plans to Improve Customer Security?
Lloyds Banking Group’s Fraud Prevention Director, Liz Ziegler, stressed that fraud has become widespread and needs a united response from both public bodies and private companies.
She said: “Fraud is everywhere; the only option is to tackle it head-on, and the public and private sectors need to work together to do so.
Our pioneering initiative gets to the heart of where fraud prevention works best by collaborating to empower and inform people to stop and spot fraud before it happens, giving them the confidence to fight back.
We look forward to continuing the work we’re doing with existing partners, while sharpening our focus on secure data sharing between public and private sectors, aligned with the UK Home Office.
Real change comes from collective intelligence – it’s the only way to truly disrupt the extended criminal networks that perpetuate fraud and fund crime across the globe.”
Detective Chief Inspector Paul Curtis, from the Dedicated Card & Payment Crime Unit (DCPCU), praised the partnership between the police and Lloyds Banking Group. He highlighted a recent case involving a fraudster who sold scam-enabling tools worldwide.
He said: “The DCPCU works tirelessly alongside the banking industry and international partners to keep the financial system safe.
This was evident this year when we secured a conviction for a prolific criminal, who sold fraudulent technology worldwide, putting innocent people at risk of fraud and making hundreds of thousands of pounds in the process.
While we are making great strides, we are not complacent and recognise that more can still be done in the fight against economic crime.
We’re delighted to continue this collaborative work with Lloyds Banking Group, to ensure the proceeds of fraud will be used to benefit victims and help further prevent harm to society.”
What Customers Should Watch Out for This Christmas?
As Christmas approaches, people naturally spend more time shopping online, making them prime targets for phishing scams, delivery text cons, fake retailer websites and impersonation calls.
Lloyds Bank is reminding customers to stay cautious, double-check unexpected messages and never rush into payments or the sharing of personal details.
The bank advises customers to trust their instincts, take a moment to assess anything suspicious and contact their bank directly if unsure.
A simple pause, Lloyd’s says, could prevent thousands of pounds from falling into the hands of criminals.
