A major bank issued a warning against scammers who exploit the festive season to target unsuspecting individuals. The warning comes after a significant increase in bank transfer scams during the holiday period, with customers losing almost £2 million last year.
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 customer
SCAM HOLIDAY BANK FRAUD WARNING
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