Jockeys targeted by fraudsters advised to change banks by PJA

Posted by Tom Blandford in Identity Theft on 11 October 2016 - Tom is a Credit Analyst at checkmyfile

The Professional Jockeys Association has advised its members to avoid high street banks after a string of crimes dating back to 2014, specifically targeting jockeys. It is believed that the fraudsters responsible for the crime were able to defraud the Jockeys by forging their signatures and obtaining publically available details through social media.

Fraudsters were able to withdraw money without bank cards by posing as the Jockeys, using forged and stolen documents to verify their identities. The crime went undetected for a short while due to the small, yet frequent withdrawals made by the thieves.

Around 30 jockeys have fallen victim to identity theft of this nature since 2014, with a reported six-figure sum having been stolen in total. The PJA published a warning in the October issue of their newsletter, citing high street banks as ‘unwilling and incapable’. The newsletter said, “What is most scandalous is that on almost every occasion the banks admit to not following their own procedures, handing significant sums of cash over – in some cases several thousands of pounds – despite signatures that didn’t match those held by the bank and/or warning flags on the account not to issue cash withdrawals following previous frauds.

"In the light of the significant and ongoing losses, which must now amount to a significant six-figure sum, the PJA and BHA have come to the conclusion that, given the ineptitude of the major high street banks in preventing the fraud and their lack of interest in prosecuting it, the only way to prevent the frauds from continuing is to move their current account banking off the high street.

"Those that are and chose to remain on the high street, please continue to keep a very close and regular eye on your transactions and report any suspicious activity immediately to your bank."

As a result of the thefts, the PJA and British Horseracing Authority (BHA) has recommended that Jockeys concerned with identity theft should change move their current-accounts to banks off the high street.

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