£177million lost to impersonation scams last year - how to protect yourself

17 April 2023 , 23:01

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There were over 45,000 reports of impersonation scams last year (Image: Getty Images)

Around £177.6million was lost to impersonation scams last year in the UK, new research has found.

There were 45,367 cases of these types of scams in 2022, which usually see criminals contacting people pretending to be a trusted organisation or person such as a bank or a friend or family member.

The study by UK Finance found just over half - 51% - always check whether a request for money or personal information is legitimate before proceeding.

Younger adults are particularly at risk, with only 38% of 18 to 34 year olds always doing this.

Of those that had been approached, an alarming 21% of people who had responded to communications from a range of organisations, including delivery companies, banks, online retailers, energy companies and the police, which they said they later believed to be fraudulent.

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UK Finance has now launched a campaign, Take Five to Stop Fraud, which urges people to take a moment to stop and think before parting with their money or information.

The Take Five to Stop Fraud campaign advice is to:

Stop - take a moment to stop and think before parting with your money or information that could keep you safe.

Challenge - ask yourself if it could be fake and know that it’s ok to reject, refuse or ignore any requests. Only criminals will try to rush or panic you.

Protect - you should contact your bank immediately if you think you’ve fallen for a scam and report it to Action Fraud.

Katy Worobec, managing director of economic crime at UK Finance said: "We receive genuine communication from trusted organisations on a daily basis, meaning it’s not always easy for us to spot when an approach for information is in fact from a criminal.

“Anyone can be caught out by a scam in the heat of the moment and criminals are constantly adapting their tactics to appear legitimate.

"It has never been more important to take steps to check for genuine communication and follow the advice of the Take Five to Stop Fraud campaign and to stop, challenge and protect.”

The scams can be very sophisticated and often start with a call, text, email or direct message with an urgent request for money or personal and financial information.

Signs you could be being scammed include spelling and grammar mistakes in communications, increased demands and fake-looking email addresses.

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