The UK government is to relaunch the Joint Fraud Taskforce in a bid to tackle the sharp rise in scams during the pandemic. There has been a 24% rise in fraud during the last 18 months, as criminals took advantage of the rapid changes in consumer behaviour, and the switch to online working and service provision.

The task force will comprise of leading figures from the world of finance, law enforcement, the government, and representatives of victims. All the major high street banks, several accountancy bodies, and many of the major mobile and telecoms companies in the UK have agreed to sign the charter.

The focus will be on developing new technology for a pilot dynamic direct debit system, with the intention of introducing an extra authorisation step into applications for new telecoms contracts. The taskforce also plan to crack down on fake text messages, and put in place a cross-party plan to protect victims of data breaches.

David Postings, Chief Executive of UK Finance, the trade body for banks, said: “Protecting customers from fraud and stopping stolen money getting into the hands of criminals is an absolute priority for the banking industry.”

“Banks are fighting fraud on every front, but the sector can’t stop all fraud on its own. Only by working together with other key industries and government can we combine our powers to make the UK a safe place to do business.”

UK Finance have reported that £754m had been stolen from bank customers during the first half of 2021.

According to a report in The Guardian, at least 45 million people received one or more scam texts or calls in the last three months alone. Most common are texts purporting to be from courier firms, asking for payment in return for a parcel delivery. Fake Covid vaccines and passports have also been frequently offered.

If you require the services of an outsourced finance director, talk to us today.