Shoppers across the East of England are being urged to watch out for fraudsters when online bargain hunting in the Christmas sales.
The warning comes as new analysis for Lloyds Bank shows that four in five (82%) of people in the region say the cost-of-living crisis is making them keener to seek a bargain.
A quarter (26%) also admit to making an online purchase despite thinking that ‘this is too good to be true’.
Purchase scams occur when someone is tricked into sending money directly to someone else’s account via bank transfer (also known as a Faster Payment) to buy goods or services – often advertised online or via social media – that don’t exist.
The scams will often start on platforms such as Instagram or Facebook Marketplace, with victims lured in by the promise of cut-price or hard-to-find goods. Purchase scams are the most common type of scam where people are tricked into handing over their money, with people aged 25 to 34 most likely to fall victim.
Despite the risk of purchase scams, a fifth (22%) of shoppers in the East would use a website they’d never heard of before if it offered the cheapest option, while two thirds (65%) think a bank transfer is a safe payment method when shopping online, despite it offering much less protection than paying with a credit or debit card.
According to the Lloyds Bank 2022 Consumer Digital Index, consumers aged 70+ are nearly twice as likely to have been scammed multiple times, however over two-thirds of people who have been scammed are under the age of 50.
Matt Hubbard, Lloyds Banking Group’s Ambassador for the East of England, said: “I know that many families across our region are feeling uncertain about money as prices rise, but I urge everyone to take care when shopping online, regardless of their age or how confident they feel online.
“Scammers are always looking for new ways to trick people, hunting for bargains, into handing over their money for fake goods, especially during sale periods.
“If you’re shopping online you should always check the website is genuine, be wary of scam offers on social media and pay by debit or credit card to protect your money. If it doesn’t look right then find somewhere else to buy that item.”
Top tips to stay safe from purchase scams:
· Always use your debit or credit card when you buy online. This helps to protect your money should anything go wrong.
· Fraudsters use social media to post scam offers. They can even send them straight to your inbox. Always search for deals yourself.
· Check any offer that comes by text or email to make sure it’s genuine. Call the sender to find out using a number you trust, not one in a message. Or visit the website to check. Never click on a link without checking first.
· Low prices and great deals can hide scams. See if you can find them elsewhere. And remember, if an item is selling out, fraudsters can charge more to trick desperate buyers.
· Make sure a seller or website is genuine. Look for good reviews from different buyers. Be wary of mixed, bad or no reviews at all. It’s better to buy from a trusted retailer.
· Ask questions before you buy. If an item is expensive, offer to pay a deposit. If a seller can’t give any details about an item or tries to rush you into paying, it’s probably a scam.
