Scams are getting more and more sophisticated, particularly when it comes to targeting you online and through mobile devices.
Criminals stole £580 million through unauthorised and authorised fraud in the first half of 2023, according to figures from UK Finance.
Banks prevented a further £651 million of unauthorised fraud from being stolen through advanced security systems, however, customers are urged to take the necessary steps to avoid them falling victim in the first place.
An expert at Barclays has shared exclusively with the Express the “first signs” to spot that someone is being scammed and suggested how Britons can avoid this.
A Barclays Spokesperson said: “The best advice is, if something seems too good to be true, it probably is.
“Scammers usually offer items for significantly lower than its value to lure you in – stop and question why any legitimate seller would do this.
“Be extra conscious of items advertised as ‘limited stock’ or ‘sale ends today’ – these tactics can be used to trick people to make snap decisions.”
Customers should never feel rushed into buying or investing in something.
If something sounds suspicious or doesn’t feel right, they are encouraged to speak to someone they trust – a family member, friend or their bank – for a second opinion.”
Barclays has provided a list of tips on how to avoid falling victim to a purchase scam:
- · Be wary of unlikely offers: Many purchase scams offer huge discounts that you wouldn’t normally find at retailers you would normally trust. Remember, if a deal seems too good to be true, it probably is.
- · Do your due diligence: Don’t feel rushed into making a decision and purchasing – Research and read reviews to check the site and the seller are genuine.
- · View the item: If you can, view the item in person first to make sure it exists, especially if it’s a big purchase, like a smartphone or even a car.
- · Get a second opinion: Always speak to someone you trust for a second opinion, whether it’s a friend, family member, or your bank.
The financial services sector is at the forefront of efforts to protect customers from fraud, including partnering with other sectors, government and law enforcement to prevent and disrupt this criminal activity and bring perpetrators to justice.
Money Helper, a Government-backed platform, has also shared tips on how people can recognise a scam.
How to recognise a scam
The money experts explained knowing what to look out for when it comes to scams is one of the best ways to protect one’s self.
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Unsolicited or unexpected contact – If you’ve received any kind of contact, particularly a phone call, out of the blue, it is best to avoid it. Since January 2019, there has been a ban on cold calling about pensions. This means you should not be contacted by any company about your pension unless you’ve asked them to. In May 2023, the government announced that they planning to ban all financial cold calls.
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Email address – If you get an email, expand the pane at the top of the message and see exactly who it has come from, it could say it’s from TV Licensing but if you click or hover over the name it might reveal something different. If it’s a scam, the email address the message has come from might not match up with the sender’s name, have misspellings, or random numbers or be from one of your contacts that’s been hacked.
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Text messages – Modern scammers can make their numbers look like ones you trust, like your bank’s. The scam text message might even appear in the same conversation as legitimate texts you’ve had before. This is known as ‘number spoofing’. Just in case, don’t click links in text messages, and if in doubt, contact the company directly using contact details from their website or correspondence to check whether it’s a real message.
