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Member Organisations should define and conduct a customer fraud awareness programme of activity to increase customer understanding of fraud risks; help customers to recognise and resist fraud attempts; and inform them how to report fraud.
Control Requirements
a.
Customer fraud awareness activity should deliver relevant and timely education to customers and promote fraud awareness.
b.
The activity delivered through the customer fraud awareness programme should include, at a minimum:
1.
Information on the fraud threats and scams customers may be exposed to.
2.
Customer responsibilities about countering fraud.
3.
How customers can prevent themselves from becoming victims.
4.
How to report to the Member Organisation if the customer believes they have been a victim of fraud.
c.
Customer fraud awareness activity should be tailored to the current fraud trends impacting the Member Organisation and its sector, including but not limited to the fraud typologies observed and the point of compromise which led to the fraud (e.g., SMS, email, social media).
d.
Customer fraud awareness activity should cover the duration of the customer lifecycle (e.g., onboarding, changes to product holdings, transactions and settlements).
e.
Member Organisations should deliver customer awareness materials through all communication channels offered to the customer (e.g., website, mobile app, email, post, and SMS).
f.
Member Organisations should provide additional education on fraud protection to customers who may be vulnerable to or have been the victim of a scam (e.g., support on the phone or additional materials via email or post).
