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Wednesday, October 05, 2016

Jockeys Told To Avoid High Street Banks

The BBC reports that jockeys in the UK have been advised to move their money out of High Street banks, after a string of frauds dating back more than two years.

The Professional Jockeys Association issued the warning after saying an estimated £200,000 had been stolen from about 30 jockeys across the UK.

The money had been withdrawn over the counter from cashiers, possibly using fraudulent documents, the body added.

The PJA said banks were "unwilling and incapable" of preventing the frauds.

It said the crimes dated back to 2014, when about £50,000 was reportedly stolen from the bank accounts of several riders.

Whilst it may be the case that jockeys (as a percentage of the population) have had a higher rate of bank fraud perpetrated on their accounts, it is not just jockeys that have had money fraudulently removed from their bank accounts. The issue does not just affect jockeys.

Advising jockeys to avoid high street banks is all very well and good, but where are they meant to put their money?

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