06/01/25
Fraud and Scams at Christmas
The Christmas period, for many, is a time for celebrating, relaxing and spending time with family and loved ones, and whilst we all may be taking a day or two off, scammers and fraudsters are not. Christmas is a peak time for criminals who look to take advantage of those distracted by the festive activities as well as the huge number of people using the internet to purchase their gifts and hunt for bargains in the boxing day sales.
Action Fraud have launched a new campaign this year entitled the 12 Frauds of Christmas. Their data suggests that people lost a combined total of £224 million during the 2023 festive period due to scams and fraud. Their data also shows that near 3 million phishing emails were reported to the suspicious email reporting service from November 2023 to January 2024.
Santander have also reported that they recorded some £1,999,444 having been lost in last year’s festive period because of authorised push payment scams, where the victim is tricked into making a large bank transfer to an account posting as a legitimate payee. Santander data covering December 25 2023 to January 1 2024 shows that 596 scams were reported by the banks retail and business customers.
What are they and how can you protect yourself?
Scammers use various techniques to manipulate individuals and to exploit their trust. Whether online, on the phone, or even in person, fraudsters are constantly finding new ways to deceive people. Understanding the most common scams and knowing how to protect yourself can help reduce your risk of becoming a victim this Christmas. Some of the most common frauds and scams this time of year, noted by Action Fraud in their campaign as well as Santander in their data are, phishing, where scammers send emails pretending to be from legitimate sources, such as banks and retailers to try and get personal information from the victim; online shopping fraud; social media and email account hacking; and ticket fraud.
To avoid being caught up in any of these scams or frauds, this year, some of these tips may help:
- Always take time to think before making a payment.
- Check the website. Ensure the website is secure (look for "https://" and a padlock symbol before the web address) and check for customer reviews or feedback about the site.
- Monitor your accounts. Keep a close eye on your bank and credit card statements to spot any unauthorised transactions.
- Always take time to complete extra checks when you make a payment.
- If in doubt, ring your bank. If you get a call from someone claiming to be your bank, hang up and ring your bank directly, they will tell you if it was them or not.
What to do if you think you have been scammed
If you believe you have fallen victim to fraud or a scam there are many things you can do. Those who are worried about a potential scam can call 159. 159 is an emergency hotline which was launched a few years ago to allow people to report and check financial scams as they happen. It is a simple-to-remember number that many banks have signed up to. If you think that you have been scammed, contact your bank immediately.
Additionally, if you are affected by fraud or scams and need any help and advice, we would be happy to help.