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Banks, tech groups pledge to increase efforts to share live fraud data, FT says

Banks, tech groups pledge to increase efforts to share live fraud data, FT says

Britain’s largest banks, technology, and telecoms companies have pledges to increase their efforts to share live fraud data, as more call for the government to take a stronger position in coordinating the fight against online scammers, Georgina Quach of The Financial Times reports. The coalition is moving from a testing phase to real-time exchange of fraud indicator data in order to detect scammers faster than current systems. Barclays (BCS), Lloyds (LYG), Santander (SAN), Nationwide, HSBC (HSBC), NatWest (NWG), Monzo are among the banks part of the joint system, as are tech companies and Amazon (AMZN), Google (GOOGL), Match Group (MTCH), Meta (META) and telecoms groups BT and Three.

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