Lloyds Bank has issued a stark warning to all customers as an increasing number of people are losing out on £427 each on average.
It comes as analysis shows the number of online shopping scams increased by 20% in December last year. Lloyds said certain goods are particularly risky, such as trainers, clothes, gaming consoles and phones.
The banking giant said the average amount people were tricked into handing over was £427. However, those aged between 55 and 64 lost more than double that, around £1,000 on average.
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Lloyds Bank commissioned its own research, which found most scams start via online platforms such as Instagram or Facebook Marketplace, with victims lured in by the promise of cut-price or hard-to-find goods, especially during busy shopping periods like Christmas.
Liz Ziegler, fraud prevention director at Lloyds Bank, told the ECHO : “With people especially keen to bag a bargain this Christmas given the cost of living squeeze, heartless fraudsters will be ready to trick unsuspecting victims out of their hard-earned cash.
“Online shopping scams come in all shapes and sizes, but the vast majority start with items advertised on social media, where it’s too easy for fraudsters to use fake profiles and advertise goods that simply don’t exist. The safest way to pay for things online is always by debit or credit card, and buy from a trusted retailer. Remember that if a deal looks too good to be true, it usually is.”
Lloyds has offered these tips to stay safe from online fraud this Christmas:
- Always use your debit or credit card when you shop online. This helps to protect your money should anything go wrong.
- Low prices and great deals can hide scams. See if you can find them elsewhere. And remember, if an item is selling out, fraudsters can charge more to trick desperate buyers.
- Fraudsters use social media to post scam offers. They can even send them straight to your inbox. Always search for deals yourself.
- Make sure a seller or website is genuine. Look for good reviews from different buyers. Be wary of mixed, bad or no reviews at all. It's safer to buy from a trusted retailer.
- Ask questions before you buy. If a seller can't give any details about an item or tries to hurry you into paying, it’s a sign of a scam
- Never click on links in messages, even if you think you know the sender. Visit the genuine website of the delivery company to track a parcel.
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