Fraudsters adapt phishing scams to exploit cost-of-living crisis

Fraudsters are adapting their tactics in response to the Covid-19 pandemic and cost-of-living crisis by exploiting those in difficult financial situations, with around 80,000 Brits a month falling for phishing attacks and supplying personal information, according to an Office for National Statistics (ONS) report.

Published on 26 September, the report found that while only 3% of suspected phishing message recipients replied or clicked on a link, this equated to roughly 700,000 people across England and Wales.

It also found that, of those who replied or clicked on a link, 11% provided information that could be used by fraudsters – equating to roughly 80,000 people.

The National Fraud Intelligence Bureau (NFIB) at City of London Police, which is the national policing lead on fraud, has also identified a rising trend of fraudsters promising energy bill and council tax rebates, or otherwise encouraging people to apply for a “cost-of-living payment”, in a way that mimics genuine government support packages.

For example, in the two weeks to 5 August, more than 1,500 reports were made to the Suspicious Emails Reporting Service (Sers) about scam emails pretending to be legitimate rebates from UK energy regulator Ofgem.

The NFIB has also noted a rise in reports involving scams where victims are targeted on WhatsApp by criminals pretending to be someone they know, typically their children.

“Phishing scams continue to pose a significant threat for both individuals…

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