New ID fraud tool launched in UK

LONDON – A training aid to help financial services firms protect themselves and their customers against ID fraud was launched by three trade associations and the UK government Home Office in mid-April.

Identity fraud costs the UK more than £1.3 billion each year, and is a growing concern. "ID fraud is getting much more sophisticated," says David Lennox, director, fraud and physical security at the British Bankers Association. "Optimal effectiveness is best achieved by a collaborative approach, and this initiative is a prime example of public and private sectors working together to launch a concerted attack to prevent this type of crime."

The Home Office established the Identity Fraud Steering

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