Santander has shared four vital tips to avoid falling prey to online scams as the number of cases surges.
Fraud in the UK has skyrocketed in recent years, with losses reaching billions annually, making it one of the fastest-growing crimes in the country.
The latest report from UK Finance shows a significant £1.17billion was lost to fraud in 2023 alone. Online scams are becoming increasingly sophisticated, making it harder for people to realise they’re being deceived.
With that in mind, Chris Ainsley, head of fraud risk management at UK bank Santander shared a few red flags in online communication to look out for to avoid falling victim.
Firstly, Mr Ainsley urged people to always take time to think before making a payment.
He said: “Speak to someone you trust first, like a friend or family member. Criminals will put pressure on you to make a payment quickly but taking the time to stop and think can help you avoid being scammed.”
Mr Ainsley also urged people to pay “extra attention” to the warnings their bank provides when making a payment.
Sharing an example, Mr Ainsley said: “If a customer of Santander says they’re making a payment to buy an item from Facebook Marketplace, they are asked to confirm that they have seen the item in person.
“If they haven’t, this is likely to be a scam and the payment will not be allowed. Always be honest with your bank they’re there to help you stay safe.”
Anyone can be easily impersonated, family, banks, and even the police, and criminals can make the caller ID, email address or name look exactly like the genuine caller or intercept an email thread to make it look genuine.
Mr Ainsely warned: “So if you get an email, text or call, check it’s genuine by phoning them back on a known and trusted number. Never use the number in the text or email, and never transfer money to bank details without checking them with the intended recipient first.”
Finally, the fraud expert urged people to always take time to complete extra checks when making a payment.
He explained: “This is to make sure the person and the payment are genuine. This can be reading reviews, researching companies or websites, and checking the person or company is who they say they are.”
