Banking, tech and telecoms groups combine to gather intelligence on scammers
Financial Times
23-05-23 03:19
Stop Scams UK, a group of banks, tech firms and telecos, is to begin a pilot scheme using members' phone numbers and email addresses to track and disrupt scams. The initiative, which aims to use scheme members to gather intelligence on scammers and their methods, is intended to help disrupt the flow of criminal proceeds from "money mules" who let scammers transfer stolen cash through their accounts. Fraud cost UK consumers £1.2bn ($1.6bn) last year.