A major bank has issued a new alert, cautioning the public to be vigilant for con artists during the festive season, following reports from customers who collectively lost nearly £2 million to bank transfer scams in that timeframe last year. In one case a customer lost £1,700 after paying to secure a job offer from a fraudulent “recruiter” on WhatsApp.
Santander UK disclosed that a staggering sum of £1,999,444 was reported as swindled from customers through authorised push payment (APP) scams, occurring between Christmas Day and New Year’s Day. The hefty losses included one customer’s unfortunate investment scam encounter, which saw them being defrauded of more than £600,000 – marking the biggest individual loss recorded by the bank in 2023.
The Christmas holidays might be perceived by fraudsters as an ideal time to execute their schemes, often when individuals may let their guard down amidst yuletide celebrations. Those tempted by post-Christmas sale bargains or in pursuit of concert tickets for upcoming events are particularly at risk.
On Christmas Day last year, victims reported several online scams involving clothing items bought via Instagram, and tickets for football matches and Taylor Swift concerts purchased on Facebook Marketplace.
Impersonation scams are also rife during the holiday season and could catch those unwinding at home off guard. Boxing Day saw claims from Santander customers who had been duped by scammers impersonating their banks.
Even as the New Year rolled in, scammers were undeterred, with various advance fee scam incidences remaining rampant, including one instance where a customer was conned out of £1,700 after paying to secure a job offer from a fraudulent “recruiter” on WhatsApp.
Insights from Santander’s data covering the period from December 25, 2023, to January 1, 2024, revealed that 596 scams were.
This was reported by the bank’s retail and business customers.
- On Christmas Day itself, customers contacted the bank about 10 scams, worth £3,971.
- On Boxing Day, 25 scams were disclosed, costing £45,788.
- On New Year’s Day, 24 scams were reported, totalling £7,004.
Santander UK’s behavioural scientist Pete Staffel said: “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.
“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.”
Here are some tips to avoid scams from Santander, which has further fraud awareness advice on its website:
1. Always take time to think before making a payment and pay extra attention to the warnings you bank shows you while making it. They are in place to help you bank safely and avoid being scammed.
2. Be wary of buying good from a social media – especially if it is something that is sold out everywhere or being sold at a price that seems too good to be true. If you have not seen the item in person, there is a high chance it could be a scam.
3. Anyone can be easily impersonated, and criminals can make the caller identity, email address or name appear like the genuine caller. So, if you get an email, text or call, check it is genuine by phoning them back on a known and trusted number.
4. Always take time to complete extra checks when you make a payment. This is to make sure the person and the payment are genuine. This can be reading reviews, researching companies or websites, and checking the person or company is who they say they are.
5. Think you are buying from your mate? Call them first. Fraudsters hack people’s social media to sell fakes to their friends. Always speak in person using a number you trust, not one they have sent you.
People who are worried about a potential scam can call the 159 – a simple-to-remember number that many banks have signed up to. If someone thinks they have been scammed, they should contact their bank immediately. Scams can be reported to Action Fraud.