FAQS

About the campaign

  • What is Take Five?

    Take Five is a national awareness campaign led by UK Finance backed by Her Majesty’s Government and delivered with and through a range of partners in the UK payments industry, financial services firms, law enforcement agencies, telecommunication providers, commercial, public and third sector, urges you to stop and consider whether the situation is genuine.

     

    It aims to engage, empower and educate people on how best to protect themselves against financial fraud, such as email deception and phone scams.

     

    The campaign will put consumers and businesses back in control with straight-forward advice to help prevent financial fraud and encourage people to take a moment. It is designed to remind people that it pays to “stop and think”.

  • Who is behind Take Five?

    Take Five is created in collaboration with UK Finance Ltd’s members (the nation’s major banks, credit, debit and charge card issuers, and card payment acquirers), and a range of partners, including the Government, Cifas, charities, UK retailers, telecom providers and law enforcement.

  • How else can I get involved?

    Just by listening to our message and acting on our advice, you’re already involved. You can also use our website to get more tips and watch our campaign videos.  If you are involved in a local organisation you can also use our materials to help spread the message. Follow us on social media too and please remember to share our posts as much as possible!

  • How will I know what Take Five is up to?

    After a big public launch in September 2016, Take Five continues to spread its message across the nation – go into many banks and you will see our posters, leaflets and ads, and your bank may also send you details directly. You may also see our message being distributed and supported by other campaign supporters. We’re on social media too: follow us on Facebook and Twitter.

  • What is Take Five trying to achieve?

    The good news is that in 2018 banks and card companies stopped £1.6 billion in unauthorised fraud from taking place; however as financial institutions invest in increasingly sophisticated tools to prevent fraud, criminals are switching tactics to scam individuals and companies directly. Our aim is therefore to equip people with the knowledge and confidence to deal with financial fraud attempts themselves – primarily by taking time to stop and think before they act.

  • Is the campaign UK-wide?

    Yes. Take Five is a UK-wide campaign. Campaign material is available in English and Welsh.

  • Is my bank involved with this campaign?

    Take Five is created in collaboration with UK Finance Ltd’s members (the nation’s major banks, credit, debit and charge card issuers, and card payment acquirers), and a range of partners, including the Government, Cifas, charities, UK retailers, telecom providers and law enforcement.

  • Are there any new changes I should be aware of?

    Regulatory changes mean that you may increasingly be offered new financial services to give you more choice and control over your finances and to help you more easily compare deals between providers.

     

    To use these services, you will be asked to give consent to your bank or another provider to access your financial data or to make payments on your behalf.

     

    One way you will be able to provide your consent is by logging into your online banking account. Your financial information can then be shared with other providers via secure channels.

     

    Some services may involve you sharing your online banking login details and giving your consent to the provider whose services you’ve chosen to use.

    You should make sure you are confident the organisation you share your information with, are who they say they are.

    • A genuine bank or organisation will never contact you out of the blue to ask for your PIN, full password or to move money to another account. Don’t give out personal or financial details unless it is to use a service that you have signed up to, and you’re sure that the request for your information is directly related.
    • If you share account data with a company or service, it’s their responsibility to protect it. You should make sure you understand how a company or service plans to use your data.
    • If you don’t know who you are talking to, or there is reason to suspect that the provider is not who they claim to be, don’t disclose your banking security details, or other personal or financial information.

    Criminals will often try to impersonate somebody we trust so it’s important to understand the difference between a legitimate request to share your account information for a service you’ve chosen to use and an unexpected request. You should always Take Five.  Taking a moment to stop and think before parting with your money or information could keep you safe.

     

    You can check whether a service you’re thinking of using is safe by asking the provider for more details and confirming that they are approved by the Financial Conduct Authority or another EU regulator.

     

    If you don’t know who you are talking to, or there is reason to suspect that the provider is not who they claim to be, don’t disclose your banking security credentials, or other personal or financial information.

     

    For more information on this, please visit our website for the UK Finance PSD2 Customer Factsheet

    You can also find more information on the Financial Conduct Authority website.

About financial fraud

  • How big a problem is financial fraud?

    Unauthorised financial fraud losses across payments cards, remote banking and cheques totalled £844.8 million in 2018, an increase of 16 per cent compared to 2017.

     

    Banks and card companies prevented £1.66 billion in unauthorised fraud in 2018.  This represents incidents that were detected and prevented by firms and is equivalent to £2 in every £3 of attempted fraud being stopped.

     

    In addition to this, in 2018 UK Finance members reported 84,624 incidents of authorised push payment scams with gross losses of £354.3 million.

  • Why is fraud on the rise?

    The theft of personal and financial data through social engineering and data breaches was a major contributor to fraud losses in 2018.  The stolen data is used to commit fraud both directly and indirectly.

  • Am I at risk?

    Banks work extremely hard to protect their customers, using highly sophisticated security systems which stopped £2 in every £3 of attempted fraud from occurring . Any increase in fraud is unwelcome but banks and card companies continually evolve their response to fraud as it develops. This includes investing in new detection and verification tools and working with law enforcement to stop the criminals.

     

    By listening to our message and acting on our advice you can help yourself stay safe.

     

    With criminals using impersonation scams and data breaches to commit their crimes, it’s vital that everyone is alert to the dangers. Always remember to be very cautious about giving your personal or financial information.

  • Do criminals just target individuals?

    No, criminals also target businesses, with them successfully stealing over £92 million from businesses in 2018 through  invoice and mandate scams alone.

     

  • What else is the financial sector doing to fight financial fraud?

    The financial industry is committed to tackling fraud and scams. It is responding
    to the threat by:

     

    • Investing in advanced security systems to protect customers, including real-time transaction
      analysis, behavioural biometrics on devices and technology to identify the different sound
      tones that every phone has and the environment that they are in.
    • Delivering the Banking Protocol – a ground-breaking rapid response scheme through which
      branch staff can alert police and Trading Standards to suspected frauds taking place. The
      system is operational in every police force area.
    • Sponsoring a specialist police unit, the Dedicated Card and Payment Crime Unit (DCPCU),
      which tackles the organised criminal groups responsible for financial fraud and scams.
    • Working with consumer groups to develop a voluntary code to better protect customers
      and reduce the occurrence of APP fraud.
    • Working with Pay.UK to implement Mule Insights Tactical Solution (MITS), a new technology
      that will help track suspicious payments and identify money mule accounts, and
      Confirmation of Payee, an account name checking service for when a payment is made, that
      will help to prevent authorised push payment scams.
    • Hosting and part-funding the government-led programme to reform the system of economic
      crime information sharing, known in the industry as Suspicious Activity Reports (SARs), so
      that it meets the needs of crime agencies, regulators, consumers and businesses.
    • Working closely with mobile network operators and the messaging industry to trial a new
      anti-spoofing system to help root out scam text messages.
    • Helping customers stay safe from fraud and spot the signs of a scam through the Take Five to
      Stop Fraud campaign, in collaboration with the Home Office.
    • Joining with government and law enforcement to deter and disrupt the criminals responsible
      and better trace, freeze and return stolen funds.
    • Implementing new standards to ensure those who have fallen victim to fraud or scams get
      the help they need.

Taking action

  • How can I protect myself?

    The key thing is to take time to think before you act if you’re asked for your personal or financial details, or to transfer money. There are also some other simple steps you can take to protect yourself from financial fraud, like having up-to-date software and only shopping on secure websites.

    Remember too, if after all that, you still feel uncomfortable or unsure about what you’re being asked, never hesitate to contact your bank or financial service provider on a number you trust, such as the one listed on their website or on the back of your payment card.

     

    Check out more tips on our Advice page.

  • Will I be held liable for fraud on my credit or debit cards, phone/online banking or cheques?

    If you are a victim of fraud you may have legal protection meaning you will get your money back, unless you have acted fraudulently or with gross negligence – please contact your bank and other financial service provider for further information.

  • I think I’ve been a victim of financial fraud, what should I do?

    If you think there has been fraud on your card or bank account – or if you suspect anyone has attempted to compromise your financial details – report it immediately to your bank or financial services provider and then contact Action Fraud on 0300 123 2040 or at www.actionfraud.police.uk.

     

    If you are in Scotland contact Police Scotland on 101.