Santander UK warns customers of a surge in bank transfer scams during the Christmas period, with nearly £2 million reported lost last year. The bank highlights the dangers of investment scams, online marketplace fraud, and impersonation scams.
Santander UK is warning the public to be on the lookout for fraudsters during the festive season, following nearly £2 million being reported lost to bank transfer scams by its customers from Christmas Day to New Year's Day last year. The bank disclosed that a staggering £1,999,444 was reported as lost to authorised push payment (APP) scams in the period between December 25, 2023 and January 1, 2024.
This figure includes a single loss of more than £600,000 due to an investment scam, marking the largest amount lost by a Santander customer in 2023. Scammers often view the Christmas holidays as an ideal time to strike, taking advantage of people's distractions with festive activities. They may entice individuals with offers on Christmas sales or concert tickets for the upcoming year. On Christmas Day, there were reports of online scams involving clothing purchases on Instagram and tickets for football matches and Taylor Swift concerts bought on Facebook Marketplace. Impersonation scams are also a risk, particularly when people spend time at home relaxing over the holidays. On Boxing Day, Santander received several claims from customers who had been approached by scammers impersonating their bank. The activity continued into the New Year, with reports on New Year's Day 2024 of various advance fee scams, including one where a customer paid £1,700 in hopes of securing a job offer from a 'recruiter' they communicated with via WhatsApp, reports the Liverpool Echo. Data from Santander, covering the period from December 25, 2023 to January 1, 2024, reveals that the bank's retail and business customers reported a total of 596 scams. On Christmas Day alone, customers contacted the bank about 10 scams, amounting to £3,971. The following day, Boxing Day, saw 25 scams disclosed, costing victims £45,788. On New Year's Day, there were 24 scams reported, totalling £7,004
BANK TRANSFER SCAMS CHRISTMAS INVESTMENT SCAMS IMPERSONATION SCAMS ONLINE FRAUD
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