£178m lost to impersonation scams last year
The public is being warned about impersonation scams after new figures show there were over 45,000 such cases in 2022, costing consumers £177.6m.
Industry body UK Finance, which compiled the data, also conducted a survey which found that only 51 per cent of people always check whether a request for money or information is legitimate. This falls to just 38 per cent among younger adults (18-34).
Impersonation scams happen when a criminal contacts you pretending to be a bank, utility company or other trusted organization. Criminals also sometimes pretend to be a friend or family member. Having won your trust, the criminal makes an urgent request for cash or personal information.
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UK Finance has partnered with a wide range of players in the financial services sector to launch the Take Five to Stop Fraud campaign to raise awareness of this kind of scam. The campaign urges people to stop and think before parting with their money or information.
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UK Finance said that consumers should feel free to challenge anyone who contacts them, which could include refusing or ignoring any requests. If people think they have fallen for a scam, it’s essential to contact their bank immediately and report it to Action Fraud, the trade body said.
“We receive genuine communication from trusted organisations on a daily basis, meaning it’s not always easy for us to spot when an approach for information is in fact from a criminal,” said Katy Worobec, managing director of economic crime at UK Finance. “Anyone can be caught out by a scam in the heat of the moment and criminals are constantly adapting their tactics to appear legitimate.”
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