Security and fraud prevention

As we rebuild our customers’ trust, it’s vital we protect their money, their personal information and the services they rely on.

Our customers and the bank have faced a bigger threat from fraud, scams and cyber attacks in 2016. Across our Industry thieves have managed to exploit compromised card data, get customers’ security information, and bypass security checks.

In response, we’re constantly improving our security – with new innovations and by collaborating with the rest of our industry.

Key security stats

  • We had 37% more attempted fraud cases than we did in 2015.
  • We prevented 498,000 fraud attempts (44% more than 2015) in the UK, which stopped £303 million being stolen (14% more than 2015).*

How we’ve improved our security

  • We continued authenticating our emails. This cut the number of phishing emails our customers got by over 90%.
  • We trained our colleagues to spot phishing e-mails. And we ran security awareness seminars and events to around 12,800 customers, colleagues and industry partners.
  • We helped to create the ‘Take Five’ customer scam-awareness campaign, in partnership with industry partners.
  • For higher risk card transactions, we now send a single-use code, instead of a static password. This strengthens our authentication process and makes it easier to stop fraud.
  • We monitor our branches and buildings, 24/7 for physical security threats. And we have a 24/7 reporting service for colleagues who notice anything suspicious.

How we keep track of our security needs

  • We have an internal risk appetite for security threats, and we continuously keep track of our position against it.
  • We innovate, and collaborate with peers to keep up to date with any developments in the world of (physical and cyber) security so we can anticipate threats and improve our responses if needed.

*Limited assurance provided by Ernst & Young LLP. Data relates to reported attempted fraud cases and prevented third party losses in the UK (not including policy declines for debit cards)