Experts have warned people about some sophisticated scams that are currently in circulation, including one that can originate from online dating sites.
Consumer experts at Which? have carried out some research into some convincing scams that people often fall victim to, outlining the red flag warning signs.
They've also provided some information on how to get your money back if you have been scammed by online fraudsters.
One of the most common and sophisticated scams is called 'pig butchering', because they ‘fatten up’ the victim by forming a romantic connection before carrying out the scam.
Fraudsters typically target people on online dating sites and show a great deal of interest, 'love-bombing' them in order to make them feel as though they want to pursue a relationship.
They'll also often encourage them to leave the dating site and message them on another platform, meaning they won't have any protection that the site offers.
And when victim is sufficiently groomed, the scammer claims they have been having success investing – usually in property or cryptocurrency – and they offer to invest some of the victim’s money.
If they agree, the victim is sometimes shown a crypto trading platform controlled by the scammers, and encouraged to sign up and begin depositing funds. One UK victim, a former Somerset police officer, lost £107k to such a scam, believing she was investing in retirement apartments in Cyprus.
To avoid the scam, look out for signs of ‘love-bombing’, attempts to move onto a private messaging platform, reluctance to meet in person and requests for money or a concerted effort to get the person to ‘invest’
Lisa Barber, Which? Tech Editor, said: "It’s appalling that 2023 has seen scammers continuing to thrive, as a new wave of convincing scams bombards consumers from every direction. The sad theme of all these scams is that tech platforms – whether social media, app stores or payment services – don’t always keep you safe.
"Consumers can help protect themselves from scams by accessing the wide range of free, expert advice on Which?’s website, from signing up to our scam alerts service to getting answers on how to get their money back if they do fall victim to fraud.
"Responsibility should not fall solely on the shoulders of consumers. Tech platforms and the government need to up their game and better prevent scammers reaching potential victims."
There are a few other sophisticated scams that the Which? experts want people to be aware of.
One of these is fake mission person appeals, usually about a child or elderly person. They're shared on Facebook community pages with the comments normally turned off, and identical ones are used worldwide.
After the post has gained a large number of likes, the contents are edited into something completely different, such as a straightforward investment scam. The large number of likes and shares that stay on the post will then lend credibility to the fraud.
To avoid falling victim, people are best off only sharing official posts, such as those posted by police forces or the Missing People charity.
Fake PayPal scams are also common, starting with people getting a ‘money request’ from a genuine PayPal email address – service@paypal.com.
Scammers are exploiting PayPal’s service to send out fake payment requests and consumers should never pay any invoices they don't recognise, or call phone numbers in those invoices.
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