Fraudsters are increasingly targeting social media favourite Instagram, according to data from Lloyds Bank.
It found that impersonation scams on the popular app soared 155 per cent in the past 12 months, compared to the previous year.
These scams almost always involve fraudsters sending a request for money via the platform, often claiming to be a family member or friend using a different phone, claiming theirs has been lost or damaged.
Insta scam: Impersonation scams almost always involve fraudsters sending a request for money via the platform.
The uplift in Instagram impersonation scams is in contrast with a fall in these types of scams reported on Facebook and Snapchat, according to Lloyds.
The number of these scams reported on Snapchat was down 84 per cent in the past 12 months, whilst Facebook scams were also down 54 per cent, suggesting Instagram may be becoming the new impersonation scam battleground.
However, while fraudsters on Instagram appears to be a growing phenomenon, Facebook and Snapchat fraud appears to be more costly for victims.
The average Instagram scam resulted in a loss of £336 compared to £504 on Facebook and £602 on Snapchat.
One such case reported to Lloyds came from Michelle. She was contacted on Instagram by someone who said they worked at her local church.
| Platform | % change in scams 12 Month to March 2022 | Average amount lost | Age group most likely to fall… |
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