A new emergency fraud hotline has been launched for individuals to report financial scams as they take place.
The new hotline, which can be accessed by dialing 159, will connect an individual to their bank’s fraud prevention service.
The new hotline is being trialed for a year, with fraud prevention experts hoping that 159 will eventually become a universal number, as 999 is, and that it will be used across all phones and banks.
The hotline is being promoted by Stop Scams UK, which is made up of a coalition of technology and banking businesses. Banks participating in the trial include Barclays, Lloyds (including Halifax and Bank of Scotland), Santander, Starling Bank and NatWest.
Commenting on the new hotline, Gareth Shaw, Head of Money at Which?, said: ‘This should be part of a range of solutions as no one solution on its own will be enough to tackle phone-enabled scams.
‘That is why we also need action to prevent scams at source and to ensure victims are treated fairly after they have been targeted.’