Some of the key partners involved in the development of the group came together this Tuesday (12 August) during a visit with Minister of State for Security Dan Jarvis MP.

The taskforce brings together leading figures from UK law enforcement and the financial sector, including Police Scotland, City of London Police, Barclays, NatWest, Metro Bank, the Cyber Defence Alliance and National Crime Agency.

Meeting weekly, the group will share real-time intelligence, collaborate on live investigations, and provide coordinated public warnings.

Operating as a working group, it will build a shared understanding of evolving threats to ensure that accurate, consistent messages reach the public quickly. When fraud reports come in, members will mobilise quickly, often drawing on extended networks, to implement mitigation measures to protect the public.

“Fraud has reached crisis levels,” said Jude McCorry, CEO of Cyber and Fraud – Scotland. “This taskforce ensures that collectively, we all respond quickly and consistently to share intelligence and spot patterns earlier. By working together, we’re not just reacting to fraud, we’re actively building a stronger and smarter defence against it.”

Such is the scale and severity of the issue that the Centre established a dedicated charitable arm to support individuals affected by financial fraud. In just 12 months, the Cyber and Fraud Hub has helped 450 people, managed millions of pounds worth of fraud, but more importantly through collaborative working with the banks and policing we have stopped or got the money returned to the victim.

As Scotland’s only charity working directly with the banking industry, police, and technology partners to support victims of online scams and fraud, the Hub plays a vital role. It offers a crucial lifeline for individuals who don’t know where to turn or how to access support, while also working proactively with partners to deliver education and prevention resources to help others stay safe.

The urgency of this work is underscored by the latest national figures. UK Finance reported losses of £1.1 billion to fraud in 2024, including a sharp rise in remote purchase scams. The Crime Survey for England and Wales recorded an estimated 4.16 million incidents of fraud in the year ending March 2025, up 31% year-on-year. Emerging threats now include AI-powered scams and organised fraud rings increasingly targeting the telecommunications and online retail sectors.

To counter this growing crisis, the Financial Fraud Group will be rolling out on-going public-facing campaigns that focus on practical prevention, which include guidance to help individuals and organisations stay vigilant, challenge suspicious financial requests, and report fraud attempts quickly.

Security Minister Dan Jarvis said: “Fraud is the UK’s most commonly experienced crime and tackling it requires swift, bold and coordinated action.

“That’s why I commend the important work of the Financial Fraud Group who through collaboration, intelligence sharing, and public campaigning are helping to ensure that money stays in people’s pockets.

“This government will continue to work closely with all partners, including through our new, expanded Fraud Strategy, as we ensure that fraudsters face the justice they deserve.”

Alex Hawley, head of security fusion and innovation at Barclays, said: “By collaborating closely with law enforcement and industry partners, we’re strengthening our ability to respond swiftly to emerging threats and protect those most at risk.

“This partnership is an important initiative that should help build a safer financial environment for everyone.”

Chris Ulliott, CISO, NatWest Group, said: “As criminals attempt bigger and increasingly complex frauds and scams against customers, collaboration across the financial industry, law enforcement, and other industries is ever more important in tackling this problem.

“The Fraud Triage Partnership is a key enabler of this and supports customers irrespective of who they bank with and reinforces our commitment to protecting our customers from fraud and scams.”