Santander has issued an urgent warning after its customers lost nearly £2million to bank transfer fraud during last year’s festive period with one person having £1,700 taken from their account via a WhatsApp scam.
The bank revealed that a staggering £1,999,444 was reported lost to authorised push payment (APP) scams between Christmas Day and New Year’s Day last year.
In one particularly alarming case, a single customer lost over £600,000 to an investment scam, marking the largest amount lost by any Santander customer in 2023.
The bank reported that nearly 600 scams were recorded during the week between Christmas and New Year, highlighting the heightened risk during the festive season.
Fraudsters are particularly active during this period, targeting those searching for Christmas bargains and concert tickets.
Do you have a money story you’d like to share? Get in touch by emailing [email protected].
On Christmas Day, victims reported multiple online scams involving clothing purchases on Instagram and ticket sales for football matches and Taylor Swift concerts through Facebook Marketplace.
Boxing Day saw customers targeted by fraudsters posing as their bank, with 25 scams reported totalling £45,788. Even New Year’s Day brought no respite, with 24 reported scams amounting to £7,004.
In one notable case, a victim lost £1,700 after paying a supposed recruiter on WhatsApp to secure a job offer. On Christmas Day alone, ten scams were reported to Santander, with victims losing £3,971.
Pete Staffel, Santander UK’s behavioural scientist, shared his personal experience with potential scams and broke down what customers should look out for.
Scammers are using WhatsApp to target bank customers
Flickr
He explained: “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.”
“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 issued five key tips to help customers avoid falling victim to scams. The bank urges customers to always take time to think before making payments and pay attention to banking warnings during transactions.
Customers are advised to be cautious when buying from social media, especially items that are sold out elsewhere or seem unusually cheap.
The bank warns that criminals can easily impersonate legitimate callers, and customers should verify contacts by calling back on known, trusted numbers.
LATEST DEVELOPMENTS:
Scam experts are breaking down how Britons are accidentally parting with their cash
PA
Extra checks, including reading reviews and researching companies, should be completed before making payments.
Finally, customers are advised to verify purchases from friends directly, as fraudsters often hack social media accounts to sell fake items.
People who suspect they may be targeted by scammers can call 159, a dedicated number that many banks have signed up to.
Anyone who believes they have fallen victim to a scam should contact their bank immediately. All scams can be reported to Action Fraud, the UK’s national reporting centre for fraud.
