Nearly £2 million was reported lost by the bank’s customers to authorised push payment scams between Christmas Day last year and New Year’s Day.
A major bank is warning people to watch out for fraudsters over the festive period, with nearly £2 million having been reported lost to bank transfer scams between Christmas Day and New Year’s Day last year by its customers.
Santander UK said £1,999,444 was reported as lost to authorised push payment (APP) scams between December 25 2023 and January 1 2024.
The total includes an individual loss of more than £600,000 as part of an investment scam – the biggest amount lost by a customer of the bank in 2023.
Scammers may see the Christmas holidays as the perfect opportunity to strike, when some people are being distracted by festive activities.
Fraudsters may try to lure people looking to snap up bargains in the Christmas sales or purchase concert tickets for the year ahead.
On Christmas Day last year, reports of online scams included clothes purchased on Instagram, as well as football and Taylor Swift tickets purchased on Facebook Marketplace.
Impersonation scams may also catch people out when they are spending time relaxing at home over the holidays.
On Boxing Day, several claims were made from customers who were contacted by scammers pretending to be their bank.
And scammers did not take New Year’s Day off either as 2024 got under way, with customers reporting several advance fee scams, including a £1,700 payment made with the intention of securing a job offer with a “recruiter” via WhatsApp.
Santander data covering December 25 2023 to January 1 2024 shows that 596 scams were reported by the bank’s retail and business customers.
– On Christmas Day itself, customers contacted the bank about 10 scams, worth £3,971.
– On Boxing Day, 25 scams were disclosed, costing £45,788.
– On New Year’s Day, 24 scams were reported, totalling £7,004.
Santander UK’s behavioural scientist Pete Staffel said: “Online adverts are the prime place for finding that dream present – I even found one the other day, a perfect family game, complete with a video showing how it all worked. My kids would love it, and only two left in stock. But just before clicking buy, I checked the reviews, it was a scam.
“Don’t let the build up to Christmas cloud your senses. Scammers don’t take the holiday season off, and whether it’s through ‘buy it now’ ads, impersonating your bank, or offering a too-good-to-be- true investment, they will be looking for ways to be the Grinch that steals more than your Christmas.”
Here are some tips to avoid scams from Santander, which has further fraud awareness advice on its website:
1. Always take time to think before making a payment and pay extra attention to the warnings you bank shows you while making it. They are in place to help you bank safely and avoid being scammed.
2. Be wary of buying good from a social media – especially if it is something that is sold out everywhere or being sold at a price that seems too good to be true. If you have not seen the item in person, there is a high chance it could be a scam.
3. Anyone can be easily impersonated, and criminals can make the caller identity, email address or name appear like the genuine caller. So, if you get an email, text or call, check it is genuine by phoning them back on a known and trusted number.
4. Always take time to complete extra checks when you make a payment. 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.
5. Think you are buying from your mate? Call them first. Fraudsters hack people’s social media to sell fakes to their friends. Always speak in person using a number you trust, not one they have sent you.
People who are worried about a potential scam can call the 159 – a simple-to-remember number that many banks have signed up to. If someone thinks they have been scammed, they should contact their bank immediately. Scams can be reported to Action Fraud.