Santander has urged customers to remain vigilant this Christmas season, following significant financial losses reported during the same period last year. The bank revealed that just under £2 million was lost between Christmas and New Year’s Day 2023 due to scams, including one individual who fell victim to an investment scam, losing over £600,000.
Scammers Target Festive Shoppers
Scammers are known to exploit the festive season with tactics such as fake bargain sales on items like clothing, electronics, and concert tickets. Impersonation scams also surge during this time, with fraudsters posing as bank employees to trick victims into divulging sensitive information or transferring money.
In total, Santander recorded 596 scam cases involving both retail and business customers from December 25, 2023, to January 1, 2024.
Tips to Avoid Christmas Scams
To help customers stay safe, Santander has shared the following advice:
- Take Time to Think Before Paying
Always pause and consider the warnings displayed by your bank when making a payment. These alerts are designed to protect you from scams. - Be Cautious with Social Media Purchases
Avoid buying items from social media, especially those being sold at unusually low prices or items that are hard to find elsewhere. - Verify Communications
Criminals can spoof phone numbers, email addresses, and names to appear legitimate. Always verify communications by calling back on a trusted number. - Perform Extra Checks
Research companies or websites, read reviews, and confirm the authenticity of the person or business you are dealing with before making a payment. - Confirm with Friends
If you’re buying something from a friend on social media, call them first to verify. Fraudsters often hack social media accounts to sell fake goods to the victim’s contacts.
What to Do If You Suspect a Scam
Customers who believe they are being targeted by a scam can call 159, a simple-to-remember number supported by many banks. This helpline provides guidance and assistance for those concerned about potential fraud.
As the festive season ramps up, Santander is encouraging everyone to stay alert and take extra precautions to avoid becoming a victim of financial fraud.
