Just after highlighting the UK’s special Dedicated Card and Payment Crime Unit (DCPCU) on this financial vulnerability blog, a major UK bank is putting its money where its mouth is and injecting 5 million pounds into its fraud prevention initiative. Besides supporting the DCPCU with this new funding commitment, the Lloyds Banking Group is allocating money to the UK Home Office, Age UK and We Fight Fraud, Stop Scams UK.
As per this generated AI ChatGPT response below to UK crime, it is clear that more money and effort need to go into this top priority for the UK government in collaboration with its financial institutions who are on the frontlines of financial crime.
Yes — in the UK in 2025, official data show that financial crime (especially fraud) accounts for the largest share of crime against citizens (around 40–43 % of all crime), significantly outpacing other offence types, and is a central focus of regulatory policy like the FCA’s Consumer Duty and the broader economic crime strategy. Crown Prosecution Service+1
Excerpts from the Lloyd Banking Group’s public announcement of this new funding show how welcome this new funding is being received.
Lord Hanson, Minister for Fraud, said:
Fraud is a crime that can affect anyone, at any time. That’s why our Stop! Think. Fraud campaign urges everyone to pause before sharing any personal information. But tackling fraud takes teamwork. By joining forces with businesses like Lloyds, we’re showing that we can stay one step ahead of scammers together. Our expanded Fraud Strategy will go further by building stronger partnerships with industry to protect the public.
Anyone can become impacted by fraud – that’s why the efforts to combat it continues. The continued funding from Lloyds Banking Group is a welcome commitment to tackling fraud. The funded fraud prevention schemes demonstrate the existing vital work that happens through strong collaborative public and private partnerships, which most importantly helps protect the public from becoming victims of fraud.
Detective Superintendent Oliver LittleLead Force Operations Room at the City of London Police
The numbers are shocking. An average of four people aged 50+ in England and Wales are scammed every minute. This can have a devastating impact, causing not only financial harm but also longer-term damage to their physical and mental health. Thanks to the continued funding from Lloyds Banking Group, Age UK are able to empower older people in communities across the UK with education, awareness and practical support. This tried and tested approach has already had a huge positive impact for many thousands of older people, helping them to spot scams and prevent initial or repeat victimisation.
Paul FarmerCEO of Age UK
The DCPCU works tirelessly alongside the banking industry and international partners to keep the financial system safe. This was evident this year when we secured a conviction for a prolific criminal, who sold fraud technology worldwide, putting innocent people at risk of fraud and making hundreds of thousands of pounds in the process.
While we are making great strides, we are not complacent and recognise that more can still be done in the fight against economic crime. We’re delighted to continue this collaborative work with Lloyds Banking Group, to ensure the proceeds of fraud will be used to benefit victims and help further prevent harm to society.
Detective Chief Inspector Paul Curtis
Dedicated Card & Payment Crime Unit
Lloyds Banking Group’s Fraud Prevention Director Liz Ziegler said “the only option is to tackle fraud head-on”.
It was noted in this December 2025 Lloyds Banking Group release that they launched this industry-first initiative in 2021, and it “will have seen £15 million of frozen criminal funds seized, then invested, in innovative UK fraud prevention and victim support projects”.
