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Fraud worry for UK bank customers

07 November 2003  |  4040 views  |  0 Fraud worry for UK bank customers

Banks are in danger of losing customers unless they take a more visible and proactive approach to tackling fraud, according to UK consumer research.

The research, conducted among 300 UK bank account holders by NCorp, a fraud detection software specialist, found that only 31% of respondents believe that their bank is doing enough to prevent fraud. Two-in-three consumers say they would consider changing banks if they thought they were not being adequately protected.

The survey also revealed that 28% of respondents had been a victim of bank fraud. The most common type of fraud recorded was committed using lost/stolen debit cards (62% of all bank frauds), followed by identity fraud (25%) and lost/stolen cheque books (12%). Only 27% of respondents think their bank has noticeably improved anti-fraud measures.

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