Scam warning: Britons urged to stay alert as key scams rife in 2022 | Personal Finance | Finance
Over the past year, fraud and crime watchdogs have been informing savers and consumers as to how fraud has evolved in the last two years, specifically over the pandemic. Recently, data from Lloyds Bank revealed that criminals are using WhatsApp more often to trick victims into parting with their cash by impersonating loved ones. The bank reports that this type of impersonation scam has risen by 2000 percent over the past year.
UK Finance, the country’s trade association for the banking and financial sector, has stepped in to notify the public as to what the most prevalent examples of fraud are today and how people can avoid them.
Speaking exclusively to Express.co.uk, a UK Finance spokesperson said: “The banking and finance industry is committed to stopping fraud from happening in the first place, investing billions in advanced technology to protect customers and businesses, and working closely with the government and law enforcement to target the criminal gangs responsible.
“Given the scale of the challenge fraud poses, we have long argued that other sectors, including online firms, need to do more to help protect the public.
“We would encourage consumers and businesses alike to follow the advice of our Take Five to Stop Fraud campaign.
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“Criminals try to rush people into making decisions and so people should always take a moment to stop and think before parting with money or personal information as it could be a scam.”
Due to the pandemic, consumer habits have changed which have led criminals’ behaviour to change with it, which UK Finance believes is the most drastic development in recent years.
They added: “With more of us working from home and shopping online during the pandemic, criminals used this opportunity to advertise fake products online, on auction sites or social media.
“They will ask for payments in advance however the product either doesn’t exist or is never received.
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“Common scams include the apparent sale of a car or a technology product, such as a phone or computer, advertised at a low price.
“Criminals also advertised fake holiday rentals and concert tickets. While many online platforms offer secure payment options, they will persuade you to pay via a bank transfer instead.”
Furthermore, the finance expert shared how the pandemic has exacerbated criminal operations when it comes to certain types of shopping scams
“With more of us working from home and shopping online during the pandemic, criminals used this opportunity to advertise fake products online, on auction sites or social media,” they added.
“They will ask for payments in advance however the product either doesn’t exist or is never received.
“Common scams include the apparent sale of a car or a technology product, such as a phone or computer, advertised at a low price.
“Criminals also advertised fake holiday rentals and concert tickets. While many online platforms offer secure payment options, they will persuade you to pay via a bank transfer instead.”
One particular scam involves sending out text messages impersonating parcel delivery companies.
The spokesperson concluded: “In the message, they claim that the courier has been unable to make a delivery and may ask you to pay a fee or provide additional details in order to rearrange.
“The message often contains a link to a very convincing but fraudulent website asking for your personal and financial information.”
Anyone concerned about the rise in scams is encouraged to go onto the Action Fraud or UK Finance website for advice and updates on the latest activity.
