Lloyds Bank issues scam warning as Britons lose £1,457 to fraud – ‘Protect yourself!’

Banking scam: Caller details having £2000 stolen from account

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Young people are increasingly becoming the victims of fraud and are losing an average of £1,457. The bank is sounding the alarm that students must learn to “protect yourself” from impersonation scams in particular. Fraudsters are convincing young people to make payments or divulge personal financial details while pretending to be a trusted organisation such as the bank or the police.

While this type of fraud is not as common as purchase scams, the amounts lost are much larger at an average of £1,457.

Criminals often reach out to victims over phone call, text message or email and say their bank account is in danger.

They will then ask their target to move their money to a safe account to secure the money which they claim is at risk.

There have also been cases of scammers sending fake emails asking for student fees to be paid to them.

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Impersonation scams have also become more advanced as of late with scammers being able to take control of their victims’ devices.

One woman named Sophie, a postgraduate student from Bristol, shared how her friend group has been targeted by such scams.

The 24-year old explained how her friend was called in the middle of the night by a fraudster who convinced her into giving them remote access to her laptop.

This resulted in them having control over what she could do and led to the scammer blackmailing her asking for money.

She said: “I was already cautious but my friend’s experience made me even more so.

“I rarely answer unknown numbers who call me, in case it is a scam, and I don’t really open emails from any address I don’t recognise – to make sure my laptop doesn’t get a virus.

“Some scams are harder to spot though. They advertise products they know young people on social media want – like trainers – and the way they do it can look professional and eye-catching.

“It’s pretty suspicious when these adverts seem to have loads of stuff in stock that well-known shops don’t.

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“So, although it is tempting – especially when I don’t have a lot of money – it is better to stick to shops and websites that I know are legit.”

Liz Ziegler, the Retail Fraud and Financial Crime Director at Lloyds, discussed how young people, particular students, are in the firing line of these scams.

Ms Ziegler said: “Heading off to university is always an exciting time, with the promise of more independence, the chance to make new friends, and dreams of your future.

“But with criminals constantly on the lookout for new ways to trick victims out of their cash, student life can quickly turn into a nightmare if you don’t keep your guard up against the threat of fraudsters.”

The fraud expert outlined how people can better protect themselves from this type of fraud.

She added: “While your bank will be working hard in the background to keep your money safe, it’s important you also take steps to protect yourself.

“If a deal looks too good to be true, or you’re being pressured to make a payment quickly, that should set alarm bells ringing that you’re about to get scammed.”

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