One in 5 customers (18 per cent) have fallen sufferer to a rip-off within the final yr, whereas one in three know somebody who has.
As we kick off 2025, Barclays has revealed the rip-off developments it witnessed all through 2024 and shares some suggestions to assist customers keep ‘scam-safe’ within the coming yr. It discovered that funding scams account for £1 in each £3 claimed by victims, whereas buy scams account for three-quarters of declare volumes.
Barclays additionally revealed that 93 per cent of those that fell sufferer to scams did so on-line. Seventy-five per cent of all rip-off sorts reported by the financial institution’s prospects originated on social media and tech platforms.
In barely extra constructive information, two in 5 (43 per cent) had been focused however managed to establish the rip-off earlier than handing over their hard-earned funds.
Nonetheless, as scams turn into more and more assorted and sophisticated it’s comprehensible that 52 per cent of Brits at present really feel overwhelmed by scammers. Three-quarters (74 per cent) of respondents imagine there are extra scams on-line than there have been a yr in the past, whereas one in three (32 per cent) now really feel much less assured of their skill to identify scams.
When wanting on the consciousness of particular rip-off techniques, customers are most accustomed to pretend supply scams and HMRC scams, at 83 and 80 per cent respectively. Nonetheless, fewer than two in three are accustomed to AI cloning and recruitment scams, each at 62 per cent.
Rip-off stats
The common funding rip-off declare within the final yr amounted to £15,564 – increased than another rip-off sort. Regardless of this, funding scams represented simply 4 per cent of the quantity of reported scams.
By comparability, buy scams made up the best share of rip-off reviews, accounting for 3 in 4 claims (74 per cent), however simply 24 per cent of the whole worth of reported scams, with a decrease common declare, at £650.
Barclays revealed the highest 10 scams in 2024:
Faux supply rip-off (51 per cent)HMRC rip-off (42 per cent)Buy rip-off (40 per cent)On-line market rip-off (38 per cent)‘Howdy Mum’ WhatsApp rip-off (37 per cent)Funding rip-off (32 per cent)Advance payment rip-off (32 per cent)Ticket rip-off (30 per cent)Parking rip-off (30 per cent)Romance rip-off (30 per cent)
Round 77 per cent of customers imagine that know-how corporations must do extra to forestall scams from happening on their platforms, whereas 64 per cent advised Barclays they suppose these corporations ought to be made to reimburse rip-off victims.
Virtually half (49 per cent) of respondents stated they might really feel comfy with banks and tech corporations sharing their private information with one another, if it was being carried out to forestall them from falling sufferer to a rip-off, or as a result of they had been being focused by a scammer.
Remaining proactive
Kirsty Adams, fraud and scams knowledgeable at Barclays, stated: “The number of rip-off techniques and channels continued to evolve significantly this yr, nevertheless it’s clear that there are a selection of putting up with rip-off developments; nearly all of scams began on social media as soon as once more, buy scams proceed to be probably the most reported rip-off sort, and customers demonstrated they’re overwhelmed by the rip-off dangers posed to them and their family members.
“There’s little question that scammers will benefit from buyers within the Christmas and Boxing Day gross sales, so even because the yr attracts to an in depth, we’re urging individuals to remain vigilant. Waiting for 2025, we’re hopeful we’ll see progress within the struggle towards fraud, within the type of cross-industry collaboration. It is just by becoming a member of forces that we are able to deal with this epidemic.
“Falling sufferer to a rip-off will not be one thing to be ashamed of; it could occur to anybody, so we need to arm individuals with data and recommendation on learn how to keep scam-safe.”
How one can keep scam-safe
Adams shared some necessary tips about staying forward of the scammers in 2025:
By no means disclose private particulars: Your financial institution won’t ever ask you on your debit card PIN, your password, or your full on-line banking login particulars. Requests alongside these traces ought to bounce out as a purple flag.Confirm firm particulars: In case you are unsure about an organization that has contacted you by cellphone, it’s at all times value double-checking their contact particulars. Verify official web sites and name the listed quantity immediately your self.Take your time: Relating to making purchases on-line or committing to an funding, don’t be pressured into making any hasty selections. All the time keep in mind that authentic organisations shouldn’t push you into something.Be sceptical of guarantees: Our information reveals the typical funding rip-off declare is increased than another rip-off sort. Keep in mind the previous adage; if it sounds too good to be true, it in all probability is, and stay sceptical of any promise of unrealistic returns.Watch out for rip-off texts: When you’re despatched a one-time passcode to authorise a fee or registration, at all times learn the total message to test it matches up with what you’re doing. If it doesn’t, cease the transaction and don’t use the code or give it to anybody.
