Barclays warns over scam spike in lockdown
Banking giant Barclays has issued a warning to UK consumers over an increase in scams in recent months, saying fraudsters have been targeting more people during the novel coronavirus (Covid-19) lockdown.
Friday, 21 Aug 2020 11:39 GMT
Barclays says fraud attempts were up by 66% in the first half of 2020
According to figures released by Barclays, fraud attempts were up by 66% in the first six months of 2020 compared to the first half of last year.
However, while restrictions continue to be relaxed in the UK, Barclays warned that this would not be the end of the problem.
In July, the bank reported an unprecedented 49% month-on-month increase in investment scams, as fraudsters continued to target people amid the ongoing Covid-19 crisis.
Though Barclays did not disclose the specific areas targeted by fraudsters, it says the warning is relevant for all markets, with scammers not discriminating as to who they target and how they steal people’s money.
Fraudsters have undoubtedly taken advantage of the nation's uncertainty during the pandemic”
However, it did cite social media as a particular area of concern, saying many fraudsters had been using these platforms to target victims, with the knowledge they more people are spending time online, while some have never used such channels before and could be more susceptible to such scams.
Jim Winters, head of fraud at Barclays, comments: “Fraudsters have undoubtedly taken advantage of the nation's uncertainty during the pandemic, in what is just another moment in the historical evolution of scams.
“The immediacy of our lives, even during lockdown, has allowed scammers to harness the constantly changing news agenda to target their victims, which is why we all need to remain vigilant.”
If you have an interesting story or a view on this news, then please e-mail
news@signlink.co.uk
Follow Rob on:
