The Government is mooting a new hotline, 555, for victims of bank fraud. 


Any initiative to combat surging bank fraud has to be applauded of course it does. However, at the risk of sounding curmudgeonly I cannot help but feel this is a bit of sticking plaster or simply action for the sake of being seen to be doing something.


At the moment, people call Action Fraud and there are endless reports of this organisation failing to cope with the sheer number of calls. 


Will this new set up be any different? 


I hope so but I doubt it, I'm afraid.

In the meantime, victims of fraud can get quick solutions by looking to the private sector.