Assisting bank customers who are the victims of scams after the fact is difficult enough for banks. But what happens when a scam is not only on-going but may even be literally unknown to the victim? Santander UK decided to create a team trained in rescuing customers involved in such increasingly common financial scams.
Paul Benda, ABA’s EVP for risk, fraud and cybersecurity, discusses the history of that bank’s Break the Spell team with Chris Ainsley and Michelle Pilsworth from Santander UK. The team is specially trained to do just what its name indicates: interrupt scams in real time to defend customers from major financial loss and further harm.
The ABA Fraudcast will be published every three weeks, here and wherever you listen to and subscribe to your favorite podcasts, such as Apple and Spotify. Please subscribe!
ABA offers resources to help banks prevent, identify, measure and report fraud, and to serve and protect consumers and their financial data. ABA’s scam prevention campaigns #BanksNeverAskThat and #PracticeSafeChecks are newly updated as well.
If the player above is not visible, listen to this episode here.
ABA Fraudcast host:
