Santander is warning people to watch out for fraudsters over the festive period, with nearly £2million having been reported lost to bank transfer scams between Christmas Day and New Year’s Day last year by its customers.
The bank said a staggering £1,999,444 was reported as lost to authorised push payment (APP) scams from December 25, 2023, to January 1, 2024.
This alarming figure includes a single loss of over £600,000 from an investment scam, marking the largest amount lost by a Santander customer in 2023.
The Christmas holidays are a prime time for scammers, so individuals are urged to stay alert amid festive distractions.
Fraudsters are known to exploit those hunting for Christmas sale bargains or eager to secure concert tickets for the upcoming year.
On Christmas Day last year, victims reported online scams involving clothing purchases on Instagram, tickets for football matches and Taylor Swift concerts on Facebook Marketplace.
Impersonation scams are also a significant risk, especially during the holidays when people spend more time at home.
On Boxing Day, several customers reported being targeted by scammers posing as their bank. Even New Year’s Day brought no relief, with multiple advance fee scams reported. In one case, a customer paid £1,700 to a “recruiter” on WhatsApp, hoping to secure a job offer.
Data from Santander, spanning December 25, 2023 to January 1, 2024, showed the bank’s retail and business customers reported a staggering 596 scams.
On Christmas Day alone, customers alerted the bank to 10 scams, amounting to £3,971.
The following day, Boxing Day, saw 25 scams reported, costing victims a hefty £45,788. New Year’s Day was no different, with 24 scams reported, totalling £7,004.
Pete Staffel, Santander UK’s behavioural scientist, warned: “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.”
He added: “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.”
Santander has provided some tips to avoid falling victim to scams:
- Always take time to think before making a payment and pay extra attention to the warnings your bank shows you while making it. They are in place to help you bank safely and avoid being scammed.
- Be wary of buying goods 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.
- 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.
- 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.
- 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.
