Consumer protection

Protecting customers from fraud

According to the National Fraud Initiative Report 2022, fraud accounts for 40% of all crimes against individuals in the UK, with UK Finance estimating that £580m was stolen by criminals in H1 2023. NatWest Group aims to combat criminal activity, investing in resources and capability to evolve defences.

We’re using technology to protect our customers

We use best-in-class industry standard technology to detect and predict patterns of behaviour and identify financial crime and fraud. Key features to help keep our customers safe from fraud include:

My Security Profile: This feature shows customers how to stay safe when using our mobile app and shares advice about fraud and scams. During 2023, over 3 million customers used My Security Profile.

Two-way ‘Fraud Alert’ messaging: From March 2023, the two-way fraud alert message for Coutts Silk credit card holders allows clients to respond by SMS to confirm whether a suspected fraudulent transaction is genuine or not.

Remote Access Tools: In 2023, we introduced new capability that allows us to identify if a customer’s device has been compromised by a criminal using new and sophisticated Remote Access Tools to search for or steal sensitive data. NatWest Group are early adopters of this industry leading capability.

Enhanced defences: In 2023, we deployed enhanced algorithmic based fraud and scam defences preventing more customers from falling victim to fraud and scams.

Payment Systems Regulator (PSR) league tables

In October 2023, PSR published Authorised Push Payment (APP) fraud performance data for 23 banks, including 14 major UK banking groups and nine smaller firms. NatWest Group:

• Ranked sixth for reimbursing customers who fell victim to APP scams, returning 62% of customer loss value.
• Had the second-lowest value of APP fraud received per £1 million of transactions. For every £1 million received into accounts, £76 was APP fraud.
• Had the fourth-lowest value of APP fraud sent per £1m of transactions amongst the 14 major UK banking groups. For every £1 million of transactions sent, £134 was lost to APP fraud.