Santander issues four tips to avoid online scams as cases rise – ‘never’ to do | Personal Finance | finance

Santander has shared four vital tips to avoid falling for online scams as the number of cases increases.

Fraud in the UK has soared in recent years, with losses running into the billions a year, making it one of the fastest growing crimes in the country.

The latest UK Finance report shows that £1.17 billion was lost to fraud in 2023 alone. Online scams are becoming more sophisticated, making it harder for people to realize they are being duped.

With that in mind, Chris Ainsley, head of fraud risk management at British bank Santander, shared some red flags in online communication to watch out for to avoid falling victim.

Firstly, Mr. Ainsley urged people to always take time to think before making a payment.

He said: “Talk to someone you trust first, such as a friend or family member. Criminals will pressure you to make a quick payment, but taking the time to stop and think can help you avoid being scammed.

Ainsley also urged people to pay “extra attention” to the notices their bank provides when making a payment.

Sharing an example, Mr Ainsley said: “If a Santander customer says they are making a payment to buy an item on Facebook Marketplace, they are asked to confirm they have seen the item in person.

“If they haven’t, it’s likely a scam and payment won’t be allowed. Always be honest with your bank, they’re there to help keep you safe.”

Anyone can easily be impersonated, family, banks and even the police, and criminals can make the caller ID, email address or name look exactly like the genuine caller or intercept an email thread to make it appear genuine.

Ainsely warned: “So if you get an email, text or call, make sure it’s genuine by calling a number you know and trust. Never use the number in a text or email, and never transfer money to bank details without first checking with the intended recipient.”

Finally, the fraud expert urged people to always take the time to complete additional checks when making a payment.

He explained: “This is to make sure the person and the payment are genuine. This can be reading reviews, researching companies or websites and checking that the person or company is who they say they are.”