Consumers Are Challenged – Does It Seem Legit?
Metro Bank, the UK’s community bank, supports UK Finance’s 2023 Take Five week from 17th April – 21st April 2023. The theme is ‘Seems Legit?’ A challenge to consumers to stop and consider if something just doesn’t ring true – especially if you are being pressured to act quickly.
Take Five is delivered by UK Finance in collaboration with a range of partners including the payments industry, financial services firms and law enforcement because in 20211 over £1.3 billion was stolen by criminals – that’s nearly £2,500 every minute of the day.
Take Five is a national awareness campaign which offers straightforward and impartial advice to help everyone protect themselves from preventable financial fraud. This includes email deception and phone-based scams as well as online fraud – particularly where criminals impersonate trusted organisations.
Despite fraud being the most common type of crime in the UK – accounting for more than 40% of all reported crimes – only 2% of police funding is directed to tackling the problem – so consumers need to participate to help protect themselves.
“No-one believes they will become the victim of a scam, however in the heat of the moment, it’s easy to forget the basics around keeping yourself and your details safe from fraudsters”, warns Baz Thompson, head of fraud and investigations, Metro Bank.
“It is human nature to trust people – especially if someone says they’re from a bank – why wouldn’t you believe them? Take Five urges everyone to stop, pause and consider whether the situation is legitimate.”
Take Five has created a punchy reminder on what to do if you’re faced with a scenario where you are asked to make some kind of payment:
Stop – Take a moment to stop and think before parting with your money – trust your gut if something doesn’t feel right, it’s probably not!
Challenge – Is this person who they say they are? It’s okay to refuse any requests for money and financial or personal details.
Protect –Follow our tips to prevent yourself falling victim to scams. If you believe you have fallen victim to a scam report it to your bank immediately.
Visit Take Five’s website for the latest advice around frauds and scams:
1. https://www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2022