Nationwide Building Society has announced further support to help protect its members from falling victim to Authorised Push Payment (APP) scams, with the launch of a new Scam Checker Service designed to help prevent members from being scammed.
It enables their members to check a payment they are worried about either in branch or by calling a 24/7 freephone number (0800 030 4057). Colleagues will then discuss the nature of the payment and determine whether or not there are any concerns with proceeding.
Nationwide employees are trained to spot the signs of economic crime and routinely stop members from falling victims to scams. Talking to members gives them time to stop and think before completing a payment and forms an essential part in educating members on the warning signs of economic crime. This intervention forms the basis of the Scam Checker Service. Nationwide’s data shows that speaking to members before they make a payment could help identify and stop up to two thirds (65%) of attempted scams each year.
Members who fall victim to an Authorised Push Payment (APP) scam after being given the go ahead to make the payment will be refunded in full under the Society’s new Scam Protection Promise.
Members are also being encouraged to play their part in scam prevention. If, through the Scam Checker Service someone is warned against making a payment and they proceed, or if they fail to share requested important information needed to assess the payment, then the Promise will not apply. In these cases, any APP scam refund will be made on a case-by-case basis, in line with the Contingent Reimbursement Model (CRM) code just as it is now, considering factors such as vulnerability and the nature of the scam.
Stopping more scams at the outset is hoped to prevent money getting into the hands of criminals and being used to fund organised crime. Their Scam Protection Promise will also help stop members from experiencing the life-changing impact scams can have.
Joe Garner, Chief Executive of Nationwide Building Society, said: “Success is not just ensuring victims are reimbursed - but also preventing these crimes happening in the first place. That’s why we are introducing our scam checker service to help prevent our members being scammed. We're also calling on the big tech, telecoms and social media companies that play host to these crimes to take more responsibility for stopping them. We must work better together in the mutual interest of fighting this criminal activity.”
Report all Fraud and Cybercrime to Action Fraud by calling 0300 123 2040 or online. Forward suspicious emails to email@example.com. Report SMS scams by forwarding the original message to 7726 (spells SPAM on the keypad).