More than 70% of UK adults have encountered scams in the last year, receiving an average of three scam attempts each week, as reported by NatWest.
Digital platforms, including social media and telecommunication companies, dominate the list of financial scams reported by Brits this year. Phishing scams (37%), trusted organization scams (21%), and refund scams (13%) were the most common, with over a quarter (28%) of the population noticing an increase in scam attempts compared to the previous year.
Stuart Skinner, a fraud expert at NatWest, stated, “We continue to see scams on the rise, especially through digital and social media channels. With the rise of new tactics employed by fraudsters, it’s becoming increasingly difficult for consumers to identify, avoid, and track these scams.”
Messaging applications like WhatsApp and social media platforms have created additional avenues for scammers to reach potential victims. This proliferation of scams is prompting some individuals to rethink their online habits, as indicated by consumer research conducted by NatWest.
The rising threat of digital scams has led 16% of respondents to know someone who has opted out of online shopping due to concerns about scams, and 10% know someone who avoids booking holidays online for the same reason.
Concerns surrounding new technologies also loom large, with 80% of respondents worried that impersonation fraud may become harder to detect in the next five years due to the rise of AI. Furthermore, 18% admitted to having responded to a message from an impersonator in the past, initially thinking it was a message from a friend or family member.