
Speaker Zoom Meeting September 14th 2020: Frauds and Scams in Financial Services – Ryan Taylor NatWest Bank
We were very pleased to welcome Ryan Taylor from NatWest Bank who enlightened us on frauds and scams in financial services. He said that 1 to 2 billion pounds is lost every year due to fraud and scams. This money often goes to terrorist organisations as well as criminal gangs. Only 5% is ever reported due to reluctance, embarrassment and allied issues. Often the object is gaining information as much as getting money. If a data base is accessed, the details can be sold on to various criminal gangs until eventually “you” end up on a “suckers” list! People on this list tend to be targeted multiple times. The approach used by scammers includes charm, sympathy, and helpfulness but if you show signs of non-acceptance the approach ends up with threats and intimidation. Many fraudsters are articulate post graduate students, who have found it a