Festive Fraudulence
Stuart Mosley No Comments

Festive fraudsters are out to get you this Christmas! Online bargain hunters are being urged to be careful of social media linking back to untrustworthy websites as 34% of people have been scammed buying from social media websites. Lloyds Bank had revealed that the average number of people have “forked” over £393 to social media fraudsters, whilst people over 45+ have been scammed for £498 on average.

2,000 adults across the UK willingly handed their money over to fraudsters by bank transfer to sellers on social media thinking they would receive the item they have bought online. One in eight people have bought an item via a social media group but didn’t receive their designated item, whilst 12% bought goods on social media that was never delivered by clicking on a shared link.

Research reveals that people are unwary of keeping safe online from scammers, as more scammers tend to use social media to “catch their prey” into paying by bank transfer. Around 55% think that a bank transfer is a safe payment method, on the other hand paying by credit card can increase the risk of being a victim of credit card fraud. The 3 top items bought by shoppers on social media is clothing (37%), Toys (19%) and Tickets (17%). Those who are trying to make their last-minute Christmas purchases are urged to stay safe while shopping online and making sure that their credit card details are kept safe from scammers.

About Stuart Mosley

Stuart Mosley (CeFA, CeMap, CLTM) founded SJ Financial Solutions in June 2005 having spent 12 years with big corporates such as Halifax and Santander.  He felt the personal touch and straight speaking was missing from financial and mortgage advice services and set up SJ Financial Solutions to change this.

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