Santander UK has warned people and businesses to be extra vigilant against fraud over the festive period, as the bank’s data shows customers reported nearly £2 million (£1,999,444.34) reported as lost to Authorised Push Payment (APP) scams between 25 December 2023 and 1 January 2024.
The total includes an individual loss of more than £600,000 as part of an investment scam, the largest amount lost by a Santander customer in 2023.
On Christmas Day last year, customers reported being scammed when buying items online, including clothes purchased on Instagram, as well as football and Taylor Swift tickets purchased on Facebook Marketplace. On Boxing Day, several claims were made from customers who were contacted by scammers pretending to be their bank.
And scammers don’t take New Year’s Day off, with customers reporting a number of advance fee scams, including a £1,700 payment made to secure a job offer with a recruiter via WhatsApp.
Santander data covering 25th December 2023 – 1st January 2024 shows:
In total, 596 scams were reported by the bank’s retail and business customers.
On Christmas Day itself, customers contacted the bank about ten scams, worth £3,971
On Boxing Day, 25 scams were disclosed, costing £45,788.01
On New Year’s Day, 24, with a value of £7,004
Santander UK’s Behavioural Scientist, Pete Staffel is urging customers to stay on their guard as the festive season approaches:
“It’s that time of year when everyone is looking for that perfect gift, whether it’s the sold-out toy or ‘something a bit different’. Online adverts are the prime place for finding that dream present – I even found one the other day, a perfect family game, complete with a video showing how it all worked. My kids would love it, and only two left in stock! But just before clicking buy, I checked the reviews, it was a scam.
“Don’t let the build up to Christmas cloud your senses. Scammers don’t take the holiday season off, and whether it’s through “buy it now” ads, impersonating your bank, or offering a too-good-to-be- true investment, they will be looking for ways to be the grinch that steals more than your Christmas.”
Santander’s website has more top tips for helping spot other potential fraud and scams, which include:
Always take time to think before making a payment and pay extra attention to the warnings you bank shows you while making it. They’re in place to help you bank safely and avoid being scammed.
Be wary of buying good from a social media – especially if it’s something that is sold out everywhere or being sold at a price that seems too good to be true. Golden rule – if you haven’t seen the item in person, there’s a high chance it could be a scam.
Anyone can be easily impersonated, and criminals can make the caller ID, email address or name look exactly like the genuine caller. So, if you get an email, text or call, check it’s genuine by phoning them back on a known and trusted number.
Always take time to complete extra checks when you make a payment. This is to make sure the person and the payment are genuine. This can be reading reviews, researching companies or websites, and checking the person or company is who they say they are.
Think you’re buying from your mate? Call them first. Fraudsters hack people’s social media to sell fakes to their friends. Always speak in person using a number you trust (not one they’ve sent you).
Santander’s fraud team operates 24 hours a day, 365 days a year. Anybody worried they have fallen victim to fraud can contact Santander over the festive period. Information on how to report fraud is available on the Santander website as well as information on how to report a lost, stolen, or damaged card.
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Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 30 June 2024, the bank had around 19,600 employees and serves around 14 million active customers, including 7 million digital customers via a nationwide 444 branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the FCA and the PRA in the UK. Santander UK plc customers’ eligible deposits are protected by the FSCS in the UK.
Banco Santander (SAN SM, STD US, BNC.LN) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Banco Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Banco Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. In the first quarter of 2024, Banco Santander had €1.3 trillion in total funds, 166 million customers, 8,400 branches and 211,000 employees.