The cost of living squeeze is fuelling a new ‘wave of scams’, with the amount stolen more than tripling as the financial crunch begins to bite, experts have warned.
Almost £700 million was lost to fraudsters in April, compared to an average of £200 million a month over the previous year, according to Action Fraud data.
Charities have warned that scams seeking to cash in on struggling consumers are ‘the next big thing’ because it offers ‘a new hook’ for criminals to exploit.
It comes after fraud exploded during the Covid pandemic, with £754 million stolen in the first six months of 2021, according to banking trade body UK Finance.
The head of the UK’s specialist police unit for fraud, DCI Gary Robinson, has warned that the cost of living crunch is the next frontline for scammers.
Angela Briscoe is pictured at home in Ferndown, Dorset. The 66-year-old lost nearly £10k to a scammer
More than 40 million adults in the UK – around three-quarters of the population – have already been targeted by a scammer this year, an increase of 14 per cent compared to the equivalent period in 2021, according to Citizens Advice.
One fraud on the rise during the cost of living squeeze is the ‘mum and dad’ scam, where parents are targeted by criminals pretending to be their offspring. These cons have proved remarkably effective.
Households have also been inundated with phishing emails impersonating energy companies and government departments with false offers of…
