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Agreement reached with British Bankers’ Association after success in preventing theft of £170 million of customers’ cash
The British Bankers’ Association (BBA) and City of London Police have announced plans to train thousands of bankers a year to spot scams and act quickly to protect customers.
Using key techniques developed in the fight against terrorism, the association and police force want to create a “virtual ring of steel” around the City of London, echoing the renowned physical security that protects the UK’s financial centre.
The agreement follows close working between banks and the City of London Police which has prevented fraudsters and cyber criminals from stealing £173.9m from bank customers over the last nine months.
Information circulated by the force’s National Fraud Intelligence Bureau (NFIB) to businesses, and disseminated by the BBA as alerts to banks, has led to the identification of 20,000 accounts that were at risk of, or being used to acquire money from victims between 1st April and 31st December 2013.
By working together, the banks and the police protect victims who are targeted by organised criminals. Using information received from a variety of sources, the NFIB identifies suspect bank accounts which are being or may be used to take money from UK citizens or businesses. Once an alert is issued steps are taken to terminate these accounts in order to prevent/reduce further victimisation and harm that the related activity may cause.
The working relationship between the BBA and the City of London Police is world leading in the fight against the rising threat of cyber criminals. The partnership now aims to establish a global centre of excellence that will help to train banks from around the world.
The training workshops will focus on the latest threats and techniques in the battle against cyber crime such as investigating fraud, bribery and corruption.
More...
The British Bankers’ Association (BBA) and City of London Police have announced plans to train thousands of bankers a year to spot scams and act quickly to protect customers.
Using key techniques developed in the fight against terrorism, the association and police force want to create a “virtual ring of steel” around the City of London, echoing the renowned physical security that protects the UK’s financial centre.
The agreement follows close working between banks and the City of London Police which has prevented fraudsters and cyber criminals from stealing £173.9m from bank customers over the last nine months.
Information circulated by the force’s National Fraud Intelligence Bureau (NFIB) to businesses, and disseminated by the BBA as alerts to banks, has led to the identification of 20,000 accounts that were at risk of, or being used to acquire money from victims between 1st April and 31st December 2013.
By working together, the banks and the police protect victims who are targeted by organised criminals. Using information received from a variety of sources, the NFIB identifies suspect bank accounts which are being or may be used to take money from UK citizens or businesses. Once an alert is issued steps are taken to terminate these accounts in order to prevent/reduce further victimisation and harm that the related activity may cause.
The working relationship between the BBA and the City of London Police is world leading in the fight against the rising threat of cyber criminals. The partnership now aims to establish a global centre of excellence that will help to train banks from around the world.
The training workshops will focus on the latest threats and techniques in the battle against cyber crime such as investigating fraud, bribery and corruption.
More...
