Lloyds Bank has issued a stark warning to its entire customer base, stating that everyone is at risk of being targeted by fraudsters 'at any time'. The alert comes as the bank extends a major fraud prevention initiative in the lead-up to the busy Christmas period.
£15 Million of Criminal Cash Fuels Fightback
The bank's pioneering scheme, now in its fourth year, is funded entirely by money seized from convicted fraudsters. To date, the initiative has seen £15 million of frozen criminal funds confiscated and reinvested into innovative UK projects aimed at preventing fraud and supporting victims.
This unique public-private partnership sees Lloyds Banking Group working closely with the City of London Police and other organisations. The money is used to empower the public with information and tools to spot and stop scams before any financial damage is done.
Government and Banking Leaders Urge Public Vigilance
Echoing the bank's warning, Lord Hanson, the Minister for Fraud, emphasised the pervasive nature of the threat. “Fraud is a crime that can affect anyone, at any time,” he stated, promoting the national 'Stop! Think Fraud' campaign which urges people to pause before sharing personal or financial details.
Liz Ziegler, Fraud Prevention Director at Lloyds Banking Group, stressed the need for a united front. “Fraud is everywhere – the only option is to tackle it head-on,” she said, highlighting the importance of secure data sharing between the public and private sectors, in alignment with the UK Home Office.
Ongoing Collaboration to Disrupt Global Criminal Networks
The Dedicated Card & Payment Crime Unit (DCPCU), which works with the banking industry, cited a recent success where a criminal selling fraud technology worldwide was convicted. Detective Chief Inspector Paul Curtis noted that while progress is being made, there is no complacency in the fight against economic crime.
The expanded scheme ensures that proceeds seized from fraudsters are directly used to benefit victims and prevent further harm to society. As festive spending increases, the message from banks, police, and government is clear: constant vigilance is essential for all.
