A naukri.com initiative
The Fintech Times
1w
404
Investment Scams Hit Consumers Pockets Hardest in 2024: Barclays Reveals Scam Statistics
- According to Barclays, about 18% of consumers had fallen victim to scammers in the last year, primarily via online channels.
- Investment scams make up one-third of scam money claimed by victims, and 93% of those that become victims did so online.
- 43% of respondents were targeted but detected scams before losing their money, while the average investment scam claim made last year was the highest at £15,564.
- Purchase scams account for 75% of volumes of claims, but only 24% of the value with an average claim amounting to £650, making it the most frequently reported scam.
- About 77% of consumers believe that technology companies should do more to prevent scams from taking place on their platforms.
- Kirsty Adams, fraud and scams expert at Barclays urged people to stay vigilant and adhere to basic online safety measures, such as never disclosing their personal details.
- According to the report, the majority of scams started on social media, with fewer folks feeling confident in their ability to detect scams with just 62% being familiar with AI cloning and recruitment scams.
- As customers become overwhelmed by scammers' varied and increasingly complex tactics, scammers may take advantage of shoppers in the Christmas and Boxing Day sales, the annual warning goes.
- Adams also called for cross-industry collaboration in the fight against fraud as scammers continue to become more innovative in their tactics.
- People are advised to be skeptical of companies that promise unrealistic returns and to double-check their contact details, official websites, and phone numbers before making purchases or receiving calls from unknown sources.
Read Full Article
24 Likes
For uninterrupted reading, download the app