A recent study by NatWest has revealed the fastest growing scams of 2024, showing that 42% of British adults have fallen victim to a scam in the past year.
The study highlights a surge in scams such as fake parcel delivery texts, social media marketplace fraud, and AI-powered voice cloning schemes.
Fake parcel delivery scams involve fraudsters sending phony notifications about parcels, prompting victims to click on links to reschedule deliveries or pay fees. These links often lead to phishing sites aimed at stealing personal information or installing malware.
Stuart Skinner, a fraud expert at NatWest, warns, “Fake parcel delivery texts are the fastest-growing scam this year. Consider this: would a legitimate delivery service ask you to follow a link and make a payment? Be cautious of urgent messages or those requesting payments or app downloads, as these often contain spyware or could be the first step in a broader con.”
Social media marketplace scams remain prevalent, with swindlers tricking consumers into paying for non-existent products on platforms like Facebook Marketplace, Instagram, and TikTok. Supporting NatWest’s findings, new data from Barclays indicates that the average claim from purchase scams has surpassed £700 this year.
Furthermore, a study by ABN Amro found that teenagers aged 15 to 17 are particularly vulnerable to online scams, with social media marketplace fraud being the most common. In the past year, 1 in 13 teenagers experienced cybercrime, yet many do not report these incidents to authorities.
Marco Hendriks, a fraud expert at ABN Amro, points out, “Among the generation approaching financial adulthood, there seems to be a belief that fraud is just a part of life. While fraud is indeed a persistent issue, being scammed should never be seen as normal. We urge everyone to report such incidents; without reporting, fraudsters will continue their activities unabated.”
Advancements in AI are also intensifying the cybercrime landscape, with tools like deepfake software and automated phishing systems enabling scammers to launch highly personalized and convincing fraud schemes rapidly.
A significant 86% of British adults express concern that the rapid development of AI will give scammers new methods to deceive individuals, and 59% feel that distinguishing AI-based scams is becoming increasingly challenging.
Skinner adds, “AI voice cloning scams are a newer form of fraud, utilizing advanced technology to mimic someone’s voice convincingly. If you receive a call that appears to be from a friend or family member requesting money or personal information, pause and verify by calling them back on a known number. Remember not to trust the caller ID, as scammers can easily spoof that too.”