A major bank has sounded the alarm, warning the public to be extra cautious of scammers during the festive period. This comes after reports emerged of customers losing almost £2 million to bank transfer scams at this time last year.
In one distressing episode, a customer was conned out of £1,700 after they paid a seemingly legitimate “recruiter” on WhatsApp. Santander has previously said the average cost of being scammed is about £500 disappearing from a person’s account.
Santander UK reported that a shocking total of £1,999,444 was lost by victims through authorised push payment (APP) scams from Christmas Day to New Year’s Day. These figures include a particularly severe case where one individual was tricked by an investment scam, losing over £600,000 – the largest single loss the bank saw in 2023.
The festive season is often seen by criminals as an opportune moment to strike, targeting those who might be less vigilant due to the holiday cheer. Those drawn to post-Christmas sales or seeking tickets for upcoming events, such as concerts, are especially vulnerable.
On Christmas Day last year, there were multiple incidents reported involving fraudulent online sales of clothing through Instagram and purported tickets to football games and Taylor Swift concerts on Facebook Marketplace, reports Birmingham Live.
Impersonation scams also spike around the holidays, putting those relaxing at home in jeopardy. Claims arose on Boxing Day from Santander customers who were fooled by fraudsters masquerading as bank officials.
As the New Year dawned, scammers remained relentless, with numerous instances of advance fee scams persisting. One such case involved a customer being duped out of £1,700 after paying to secure a job offer from a fraudulent “recruiter” on WhatsApp.
Data from Santander, covering the period from December 25, 2023, to January 1, 2024, revealed that 596 scams were reported by the bank’s retail and business customers. Pete Staffel, Santander UK’s behavioural scientist, warned: “Online adverts are the prime place for finding that dream present – I even found one the other day, a perfect family game, complete with a video showing how it all worked. My kids would love it, and only two left in stock. But just before clicking buy, I checked the reviews, it was a scam.”
He added: “Don’t let the build up to Christmas cloud your senses. Scammers don’t take the holiday season off, and whether it’s through ‘buy it now’ ads, impersonating your bank, or offering a too-good-to-be- true investment, they will be looking for ways to be the Grinch that steals more than your Christmas.”
Santander has provided some tips to avoid scams and further fraud awareness advice on its website:
1. Always take time to think before making a payment and pay extra attention to the warnings your bank shows you while making it. They are in place to help you bank safely and avoid being scammed.
2. Exercise caution when purchasing goods from social media – particularly if the item is sold out everywhere else or being offered at a price that seems too good to be true.
If you haven’t seen the item in person, there’s a high likelihood it could be a scam.
3. Remember, anyone can be easily impersonated, and criminals can manipulate caller identities, email addresses or names to appear genuine. So, if you receive an email, text or call, verify its authenticity by phoning them back on a known and trusted number.
4. Always take the time to carry out additional checks before making a payment. This is to ensure both the individual and the payment are legitimate. This could involve reading reviews, researching companies or websites, and verifying the identity of the person or company.
5. Think you’re buying from a friend? Call them first. Fraudsters hack people’s social media accounts to sell counterfeit items to their friends. Always communicate in person using a trusted number, not one they’ve provided.
Those concerned about a potential scam can dial 159 – a simple-to-remember number that many banks have adopted. If someone believes they’ve been scammed, they should contact their bank immediately.
Scams can be reported to Action Fraud.