Avoiding scam artists and pandemic opportunists

2020 sadly, saw opportunities for fraudsters and scam artists rise. In a study from LexisNexis Risk Solutions July-December 2020 saw a 15 percent rise in transaction volumes across financial services, and mixed with an increase of new-to-digital consumers, and channels and opportunities to exploit, it’s now more important than ever to know what to look for.

The BBC estimate an average of £34.5m has been stolen in pandemic scams, so how can you protect your money and yourself from pandemic related opportunists?

TEXT SCAMS: Mobile text messaging scams tend to include a link to a fake, but very convincing, website designed to trick you into submitting personal information such as bank details. Look out for scam texts from criminals claiming to be from official Government sources. Don’t be tempted to click links.

EMAIL SCAMS: The most common scams seen are via email, known as ‘phishing’ scams. These are often very convincing – so be on your guard and question anything that seems too good to be true. You can report dodgy emails to the Suspicious Email Reporting Service. All you have to do is forward dodgy emails to report@phishing.gov.uk.

TELEPHONE SCAMS: Many scams can also take place over the phone, whether that’s somebody pretending to be from your bank, selling fake items over the phone, or calling from a supposed Government body. If in doubt, always hang up and call your provider back.

See more handy tips on avoiding scams, and what they look like via Money Saving Expert’s handy guide.*