Financial Fraud Action UK is part of UK Finance and is responsible for leading the collective fight against financial fraud on behalf of the UK payments industry. The membership includes banks, credit, debit and charge card issuers, and card payment acquirers in the UK.
They provide a forum for members to work together on non-competitive issues relating to financial fraud. The primary function is to facilitate collaborative activity between industry participants and with other partners committed to fighting fraud.
Financial fraud losses in the UK totalled £768.8 million in 2016. FFA UK and Her Majesty’s Government believe encouraging people to take a moment to stop and think can make a difference.
Many people may already know the dos and don’ts of financial fraud- that no-one should ever ask them for their PIN or full password, or ever make them feel pressured into moving money to a ‘safe account’. But, it can be easy to forget this when in a hurry.
After all, trusting people on their word is something everyone tends to do instinctively. If someone says they’re from your bank or a trusted organisation, why wouldn’t you believe them?
Take Five is a national awareness campaign led by FFA UK backed by the Government and delivered with and through a range of partners in the UK payments industry, financial services firms, law enforcement agencies and others.
It urges you to stop and consider whether the situation is genuine – to stop and think if what you’re being told really makes sense.
What FFA UK does
- Sponsor the Dedicated Card and Payments Crime Unit, an operational police unit, with a national remit.
- Manage the Industry Strategic Threat Management Process, which provides an up-to-the-minute picture of the threat landscape.
- Deliver UK-wide awareness campaigns to inform customers about threats and how to stay safe.
- Manage intelligence-sharing through the industry fraud intelligence hub (Financial Fraud Bureau) and the Fraud Intelligence Sharing System (FISS) which feeds intelligence to police and other agencies in support of law enforcement activity.
- Inform commentators and policy-makers through a press office and public affairs function.
- Provide expert security assessments of new technology, as well as the impact of new legislation and regulation.
- Publish the official fraud losses for the UK payments industry, as well as acting as the definitive source of industry fraud statistics and data.
All of this sounds useful in the fight against fraud.
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