Banks and building societies join forces to help tackle telephone fraud as it’s revealed vishing losses TRIPLED in last year to £24m

There has been a substantial climb in the number of people targeted by phone fraudsters in a scam known as vishing, according to new data from Financial Fraud Action UK.

In the last year, at least £23.9million has been raided by fraudsters this way, up from £7million in 2013 as banks and building societies struggle to keep up with the threat posed by telephone scams.

And in a victory for This is Money’s campaign to raise awareness, there has been a rare joint declaration by UK banks’ launched today. Banks, buildings societies, card companies and Chief Police Officers are to clarify warning signs of the scam.

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