TSB issues urgent consumer warning over purchase scams ahead of busy online shopping period
Ahead of the busy Christmas shopping period, TSB is warning consumers about the increased risk of purchase scams, as the bank reveals a 35 percent spike in cases.
Purchase fraud, when criminals trick people into paying for goods and services that don’t exist, is by far the biggest driver of scam cases across the banking sector.
It accounts for over half (52%) of all cases at TSB, with 77,000 cases2 recorded by UK banks in the first six months of 2023 alone – over 400 a day.
TSB data reveals that, on average, over £500 is lost per case as consumers fall victim to scams largely driven by social media platforms.
Where does purchase fraud take place?
Scam cases originating on Facebook Marketplace account for 77 percent of all purchase scams at TSB. Instagram follows, with nine percent then Twitter (4%), Snapchat (3.5%) and eBay (2%).
TSB highlights that eBay’s payment platform and customer verification has led to a miniscule fraud rate, compared to Facebook Marketplace.
TSB is advising consumers to stick to trusted outlets that allow customers to pay for items using a secure payment platform like eBay, Amazon, Vinted and Gumtree.
Top 10 scammed items
TSB can also reveal the most scammed items, which include household items, services and personal purchases. In order by volume, these are:
% of cases |
Average loss |
|
|---|---|---|
| Vehicle/Parts/Hire | 20% | £955 |
| Concert/Event/Sports Tickets | 11% | £193 |
| Shoes/Trainers | 8% | £174 |
| Appliances/Gadgets | 6% | £225 |
| Clothing/Accessories | 6% | £203 |
| Tradesperson/Tools/Materials | 6% | £1,358 |
| Mobile Phone | 5% | £275 |
| Games Console/Games/Toys | 5% | £144 |
| Property/Rental/Accommodation | 4% | £862 |
| Furniture/Homeware | 4% | £286 |
TSB is also urging consumers to be wary of adverts selling pets, holidays, cosmetics, jewellery and watches – as these categories all claimed a significant number of victims.
Paul Davis, TSB Director of Fraud Prevention, said:
“At this time of year, many of us are looking online for a bargain. But it can quickly go wrong when shopping on social media sites – which are rife with scam adverts for items that simply don’t exist.
“Over this busy shopping period, it really pays to stick to responsible shopping sites that offer payment platforms. And don’t be easily caught out by a bargain you see on social media – if it seems too good to be true, it probably is.
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