Scams Awareness 2019 is an annual campaign which this year runs from 10th - 23rd June
More than 5 million Brits (10%) have fallen victim to a financial scam at some point in their lives, according to new research by Lloyds Bank and YouGov.*
A quarter of the 2,018 UK adults surveyed also reported knowing someone else who has been duped by a fraudster.
Despite this, four in five (83%) say they feel confident that they would be able to spot a financial scam, and three quarters (77%) believe they are able to keep up with the potential risks around financial scams.
A third (33%) of clued-up Brits reported that they have been targeted by fraudsters but were able to put a stop to it.
Savvy over 65s claimed to be the most confident about spotting a financial scam (87%), compared to those aged 35-44 who felt the least confident (76%).
The research, commissioned as part of Lloyds Bank’s How Britain Lives series to coincide with Scam Awareness 2019, also found that fake emails (36%) and dodgy phone calls (35%) are the most common ways for fraudsters to target their victims.
However, social media, company websites and even text messages were also found to be a hunting ground for scammers, with one in 20 (5%) people reporting being targeted in each of these ways.
Paul Davis Fraud and Financial Crime Director at Lloyds Bank said: “We are a vigilant nation, yet it is clear from our research that many of us do still get caught out when it comes to scams. Fraudsters have adapted to changing technology by using ever more sophisticated tactics, making them more difficult to spot.
“We’re encouraging people to talk to friends and family about fraud, so that more people are aware of how to identify the tell-tale the signs of a scam. If you suspect you’ve been a target, it’s important to contact your bank immediately.”
Scams Awareness 2019 runs from the 10th to 23rd June. More information can be found here.