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Mobile phone firms quit anti-scam body | Business

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Two big telecoms companies are quitting Stop Scams UK, set up 18 months ago to tackle the scourge of fraudsters targeting people through their mobile phones.

Vodafone and Virgin Media O2 were founder members of the body, which has just launched a 159 hotline for customers who fear they are the victims of fraud.

Stop Scams UK won support from regulators at the Financial Conduct Authority and Ofcom when it launched.

The departures of Vodafone and Virgin are likely to infuriate the banking industry, which has described the £754 million stolen from bank accounts in the first half of this year as a “national security threat”.

The two phone companies have given notice of their intention to leave Stop Scams UK amid frustration that is

Click here for full article…www.thetimes.co.uk