As the festive season approaches, Santander has issued a stark warning about an alarming rise in online shopping scams targeting customers. In the crucial two weeks leading up to December 25, 2024, the bank recorded nearly 450 purchase scams, marking a significant increase in fraudulent activity.
Customer losses soared by 75% compared to the previous year, with a staggering £30,722 reported stolen during the three-day Christmas period alone, up from £17,552 in 2023. This highlights how scammers are intensifying their efforts during peak shopping times to exploit vulnerable shoppers.
Chris Ainsley, Head of Fraud Risk Management at Santander UK, emphasized the dangers: “Shoppers are most vulnerable in the days before Christmas. Stress, urgency, and the desire to secure gifts on time make people easy targets. Scammers prey on this, tricking hundreds into paying for items that never exist, leaving them out of pocket and disappointed.”
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While overall authorised push payment (APP) fraud cases reported by UK Finance have decreased, the average loss per case remains high at around £2,325. However, this average varies significantly across different types of scams, underscoring the sophisticated methods scammers use.
Adding to the concerns, Colette Mason, Author and AI Consultant at Clever Clogs AI, warns of the transformative impact of artificial intelligence on fraud. “We’re no longer dealing with obvious fake emails,” she explains. “AI enables fully cloned websites, convincingly authentic emails impersonating retailers, and deceptive product pages indistinguishable from the real ones.”
Mason urges shoppers to remain cautious, especially during the holiday rush. “A simple but effective tip? Never click links in unsolicited emails. Instead, manually type the retailer’s website URL to avoid falling victim to these advanced scams.”
Santander UK’s Behavioural Scientist, Pete Staffel, highlights how even well-designed online ads can be traps. He shares a personal experience: “I found a perfect family game advertised online, complete with a video and a limited stock warning. It seemed ideal, but checking reviews revealed it was a scam.”
Staffel advises shoppers not to let excitement cloud judgment this holiday season. “Scammers don’t take breaks during the holidays. Whether posing as your bank, pushing fake ‘buy it now’ offers, or promoting too-good-to-be-true investments, they’re ready to spoil your celebrations.”
As Christmas shopping intensifies, Santander urges everyone to verify sellers carefully, remain skeptical of suspicious deals, and protect their finances from the growing threat of fraud.