Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Top Stories > Brits trust banks more than government to protect them from fraud

Brits trust banks more than government to protect them from fraud

Published by Gbaf News

Posted on January 22, 2013

4 min read

Last updated: January 22, 2026

Lawmaker Kim Leadbeater discusses UK's assisted dying law changes - Global Banking & Finance Review — Image of Kim Leadbeater addressing the media about proposed changes to the UK's assisted dying law, emphasizing the removal of High Court judge sign-off to enhance the legislative process.

Four fifths of Brits say government is failing to do a good job fighting fraud

NAPLES, FLA – January 21, 2013 – Four fifths (80 per cent) of Brits think that government and law enforcement agencies only do an average or below average job of fighting card or account fraud, according to research from ACI Worldwide. Meanwhile, nine in ten (90 per cent) of UK consumers say they have confidence in their financial institution to protect them from card fraud.

A notable minority – 16 per cent – of people say the government is doing a very bad or poor job when it comes to fighting card or account fraud. Two thirds (64 per cent) say ministers are doing an average job. Just a fifth (21 per cent) say they are doing a good or excellent job.

However, the UK government is doing better than some of its European peers. Over a third (36 per cent) of Italian consumers think their government is doing a very bad or poor job in fighting card or account fraud, followed by 31 per cent of Germans, 30 per cent of French people, 28 per cent of Swedes, and 22 per cent of the Dutch.

The picture worsens globally with higher proportions of people saying their governments are not doing enough to stop card and account fraud:
• Mexico: 55 per cent
• South Africa: 47 per cent
• Brazil: 41 per cent
• Indonesia: 41 per cent
• China: 33 per cent
• United States: 26 per cent

This comes at a time when EU authorities have estimated payment card fraud losses in Europe are in the region of €1.5 billion a year[i].

“It is promising to see that the majority of British consumers trust banks to protect them from card fraud,” said Mike Braatz senior vice president, fraud solutions, ACI Worldwide. “Being the victim of fraud is very stressful, leaving people short of money at crucial moments and leading to lengthy claims processes. It is testament to the way most banks detect and halt fraud that people feel they are in safe hands. Unfortunately, it seems that consumers think the UK government is not doing enough to fight card or account fraud. While the UK does have a robust fraud strategy, these findings underline the importance Brits place on fraud detection and protection.”

Methodology
ACI Worldwide, a global leader in electronic payments for financial institutions, retailers, and processors, conducted online quantitative market research via a survey of consumers in July and August 2012.The study was conducted in a total of 17 countries across the following regions:
• The Americas (North and South America): Brazil, Canada, Mexico, and the United States
• EMEA (Europe, the Middle East, and Africa): France, Germany, Italy, the Netherlands, South Africa, Sweden, the United Arab Emirates, and the United Kingdom
• The Asia-Pacific: Australia, China, India, Indonesia, and Singapore

In total, 5,223 consumers were included in the research: approximately 300 consumers, divided equally between men and women, participated in each of the 17 countries. Of the total, 5,114 own one or more type of payment card (i.e. credit card, debit card, prepaid debit card); in this report, the data related to card fraud focuses on these cardholders.

In each country, the data has a margin of error of approximately 5 points. Statistical tests of significance, where shown, were conducted at the 95 percent level of confidence.

About ACI Worldwide
ACI Worldwide powers electronic payments and banking for more than 1,650 financial institutions, retailers and processors around the world. ACI software enables $12 trillion in payments each day, processing transactions for 14 of the leading global retailers, and 24 of the world’s 25 largest banks. Through our integrated suite of software products and hosted services, we deliver a broad range of solutions for payments processing, card and merchant management, online banking, mobile, branch and voice banking, fraud detection, and trade finance. To learn more about ACI and the reasons why our solutions are trusted globally, please visit www.aciworldwide.com. You can also find us on www.paymentsinsights.com or on Twitter @ACI_Worldwide.