Tech companies join banking industry to tackle fraud

BigTech companies including Google, Facebook, Amazon and Microsoft, have pledged to support Take Five to Stop Fraud, UK Finance’s anti-fraud campaign.

Other companies to join the campaign include social media firms Instagram, Twitter and TikTok.

The campaign is aimed at providing straight-forward and impartial advice to help consumers protect themselves from preventable financial fraud.

The technology companies are collectively donating $1million worth of advertising to the campaign which will help publicise the Take Five to Stop Fraud advice to consumers and enable it to reach a significant proportion of the online population with these important messages.

The technology companies will also be making use of the Take Five content in their own communications.

This pledge of support flows from the work of a recently established Online Fraud Steering Group, which brings together representatives from the technology and banking industries and law enforcement to work together to tackle fraud.

Increasing consumer awareness about the types of fraudulent activity online is an important part of this collaboration.

David Postings, chief executive of UK Finance, said: “Fraud poses a major threat to the UK and criminals are continuing to find new ways to target people with online scams.
“Tackling fraud is an absolute priority for the banking and finance industry, but it’s one that requires work across different sectors of the economy.

"We are delighted that these major technology companies have agreed to support the work of Take Five as part of our collaborative approach to tackling fraud. The advertising that is being provided will enable Take Five to reach a wider audience and is an important step in our efforts to help consumers stay protected from fraud and scams.”

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