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Fraudsters take advantage of pandemic with scams skyrocketing 66% in UK

Posted on Aug 20, 2020
Fraudsters take advantage of pandemic with scams skyrocketing 66% in UK

Scammers have been taking advantage of the COVID-19 pandemic to “cash in,” with scams skyrocketing since pre-lockdown, figures show.

Scams were up 66% in the first six months of 2020, and are likely to continue rising, with recent figures indicating a further rise of 5% from June to July, Barclays said.

The value of scams has also increased — up 61% from May to June, and another 7% from June to July.

Brits’ attempts to “regain normality through increased spending” could be “providing scammers with an opportunity to line their pockets,” the bank warned.

Scammers can also benefit from people taking a while to realise they’ve been conned — for example, waiting for confirmation of an investment that never came, Barclays said.

Going forward, Brits should “be wary” of scams related to travel, social media and investment, in particular, Barclays added.

There has been an increase in travel-related scams, with fake advertisements for campervans on online marketplace sites especially prevalent. With the summer holidays fully underway, scams relating to “staycations” are likely to continue increasing, the bank warned.

Additionally, with Brits spending more time online than ever during lockdown — due to increased home working, keeping up with loved ones while social distancing or just out of boredom — it is even easier for scammers to target victims.

Full article on https://nationalcybersecuritynews.today/fraudsters-take-advantage-of-pandemic-with-scams-skyrocketing-66-onlinescams-scams-internetscams/

#scams #covid19 #UK #barclays