MORE than seven in 10 adults have been targeted by scams in the last 12 months – being hit by an average of three a week.
A study of 2,000 adults, found 13% have lost money to fraud – with 7% of those having lost as much as £5,000.
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It emerged the scams most prevalent this year were phishing (37%) – where false emails and calls are made from what seems to be a legitimate and trusted organisation.
Closely followed by cons (21%) – where someone pretends to be from a company you use and tells you there is a problem with the service.
More than one in 10 (13%) have also been targeted by refund scams when criminals pose as businesses offering you a refund and requesting bank details.
And 61% see more digital scams (online, social media or via messaging platforms such as WhatsApp) than real-life scams (e.g., people coming to the door and asking for money).
The research was commissioned by NatWest to highlight the rapid evolution of the methods which scammers use to con people out of their cash.
Stuart Skinner, fraud expert from the bank said: “We continue to see scams on the rise, especially through digital and social media channels.
“With the increase in new digital tactics used by fraudsters, it’s becoming increasingly harder for consumers to spot, avoid and track.”
“Messaging platforms including WhatsApp and social media sites are providing more channels for scammers to operate and reach people through. It can be hard for people to keep up with what they should be looking out for next.”
With digital scams on the rise, 16% know someone who has refused to shop online because they are concerned about being targeted and 10% know someone who won’t book their holiday online to avoid being scammed.
While 63% are apprehensive about their financial online safety, 42% don’t think they will fall victim to fraudulent activity.
But 61% are concerned about their vulnerable relatives becoming a target.
Furthermore, eight in 10 of those polled are concerned impersonation fraud may become harder to detect in the next five years because of the rise in AI – when criminals pretend to be friends, family or trusted organisations.
NatWest data has revealed this fraud makes up 40% of scams amongst the over 55s.
And 18% of those surveyed have replied to a message from impersonator in the past, initially believing it to be a friend of family member.
More should be done to stop scams at their source according to 81% of adults.
And 83% want to become more vigilant at recognising impersonator fraud themselves.
Stuart Skinner for NatWest, which offers help and advice about fraud and scams [https://www.natwest.com/fraud-and-security.html] said: “Talking about fraud with your family and friends is a good way to share information across generations and keep up to date with latest guidance.
“This is particularly important following the increase in ‘friends and family’ scams, where fraudsters impersonate a family member and ask for cash or information – which our research has revealed is the fourth most common type of scam that Brits say they have been targeted with this year.
“Fraudsters are continuing to develop new and more modern ways of trying to trick people out of their money, and we want to support everyone in what to watch out for.
“We’d always encourage our customers to get in touch if they have any concern they’re being targeted by a scam.”
NatWest tips to avoid scams:
- Knowledge share: Discuss scams you are targeted by or hear about with your family and friends, and share information about how to spot and avoid them.
- Be honest with your bank: Scammers may ask you to lie to your bank about what a payment is for. Never mislead your bank about the reason for a payment .
- If it’s too good to be true: When making purchases online or from social media, always do your research and if a deal seems too good to be true, it probably is. Check the contact details on the website, if there is no address or phone number given, this is an indication that the site may not be genuine.
- Be in the know: Your bank, the police or other trusted organisations will never ask you to transfer money to keep it safe or ask for your full PIN, password or passcode.
- Take care: Never respond to unsolicited calls, texts, emails or social media messages or open attachments that you feel might be suspicious.
- Use the tools in your banking app: Always check your payment requests are going to who you meant them to and pay attention to the scam warnings on your texts and in your banking app. They’re there to keep you safe.
Top scams Brits have been targeted with this year:
Fake emails, calls, messages or websites that seem to be from legitimate organisations which ask you to provide personal/financial information.
- Trusted organisation scams (21%)
Criminals contacting you impersonating trusted organisations such as HMRC, energy companies or service providers saying there’s something wrong with your account, you owe a fine or similar.
Criminals impersonating trusted organisations telling you that you’re due a refund and asking to share your personal or banking information, such as your one-time-passcode, to receive the refund.
- Friend or Family scams (12%)
Messages sent to your phone or via social media claiming to be someone you know asking for money urgently to pay bills.
- Get Rich Quick scams (9%)
Criminals claim that you’ll make money quickly by investing in a company or goods, with the promise of making far more than you put in.
Criminals place adverts for fake consumer goods and products online, on popular social media and even auction sites to gain money or information. Products often include tech like games consoles, vehicles, concert and event tickets and designer clothing, pets or even holidays.
Criminals encouraging people to invest money into fake opportunities or pyramid schemes.
Criminals call pretending they are your bank or the police and that there has been fraudulent activity on your account, and to protect your funds you must move them to a new account to keep them safe.
Falsely being informed you have won a lottery prize, with a request to send over sensitive personal and/or financial information to claim your prize.
Criminals create fake accounts on social media and send connection requests, and after building up a friendship they ask for money, login information or other favors.
