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BBA issues new anti-fraud advice

The British Bankers’ Association (BBA) has come up with some new advice on avoiding fraud which has been developed in consultation with High Street banks, the Serious Organised Crime Agency and Financial Fraud Action UK.

There are seven guides in all, one offering advice to professionals on how best to safeguard vulnerable customers and six aimed at consumers.

BBA spokesman, Richard Cook, says: “The fighting fraud fact sheets help highlight the kind of crimes we all can face and provide some simple crime prevention techniques.”

He adds: “Financial crime may be invisible in its execution but it is just like any other kind of theft and our fact sheets set out some sensible precautions we can all take to help ourselves.”

Bank customers who believe they have been the victims of fraud but have lost out because their banks insist they have been sloppy about keeping their PINs safe may be interested to hear about new research from the University of Cambridge Computer Laboratory.

Researchers at the Laboratory are claiming that chip and PIN technology is flawed and can be manipulated by fraudsters.

A paper entitled “Chip and PIN is Broken” has already been circulated privately in the banking industry and will be presented at the IEEE Symposium on Security and Privacy in the US, in May.

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