Brits have been warned to “stay alert for fraud” as more people are out to make extra cash as the cost of living rises across the country.
UK Finance said on Wednesday that more than half (56%) of people admitted that they are likely to look for opportunities to make extra money in the coming months, which could leave some people more susceptible to fraud.
According to the trade association’s Take Five To Stop Fraud campaign, one in six, or 16%, of people said the rising cost of living means they are more likely to respond to an unprompted approach from someone offering an investment opportunity or a loan.
Young people were more likely to be at risk, the data suggested, which surveyed 2,000 people across the UK.
More than a third (34%) of 18 to 34-year-olds said they are more likely to respond to an unprompted approach from someone, with three in 10 (30%) also more likely to provide their personal or financial details to secure the arrangement.
Overall, three in five people (60%) said they are concerned about falling victim to financial fraud or a scam.
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It comes as recent figures from UK Finance showed that £609.8m was lost due to fraud and scams in the first half of this year.
“The rise in the cost of living can be worrying and stressful and for many, keeping on top of finances might be a struggle….
