Spike in number of bank staff stealing from customers

clock

The number of bank staff stealing or deceiving customers has risen by more than 40% in the last year, fraud figures show.

CIFAS, an anti-fraud organisation whose members include most major banks and building societies, said that there had been an "alarming increase" in the level of fraud committed by employees. One particular trend was for cashiers to cream off elderly customers' deposits when they take cash into a branch. According to CIFAS, the total number of insider fraud cases identified rose from 330 in 2010 to 378 in 2011, an increase of almost 15%. However, the number of dishonest actions by staff to obtain a benefit through theft or deception rose from 156 cases to 220 - a 41% increase. In...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read