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Financial sector given new code on abuse

"We know that it is our collective responsibility to support consumers and help prevent them from falling victim to fraud. The BSI PAS provides the best platform to join forces with the government, other banks and industry partners to work towards a common goal.’’

Ben Wallace, security minister at the Home Office, said: “Protecting vulnerable people from becoming victims of fraud or financial harm is a key priority for this Government and I really welcome this new guidance which will drive best practice in this area.

“It is an excellent example of the collaborative nature of the Joint Fraud Taskforce which sees government, law enforcement and industry working together to tackle some of the toughest fraud issues in order to protect the public, particularly those that are at a higher risk of becoming victims."