According to the Global Anti-Scam Alliance (GASA), one in five consumers falls victim to scams, losing a total of GBP 9.4 billion.

GASA, alongside Cifas and Tietoevry Banking, compiled this study revealing that 20% of UK adults are targeted by scammers, with an average loss per victim at GBP 878.60.

Insights from the Report

As the holiday season approaches, GASA, Cifas, and Tietoevry Banking advise shoppers to remain vigilant against scamming activities often targeting vulnerable individuals through direct messaging platforms. They highlight that scams pose a significant data-driven threat to the UK economy.

In the UK, 76% of people have experienced scams, with mental health impacts reported by one-third of victims. Although 80% of respondents feel confident in identifying scams, professional fraudsters continue to evolve beyond consumer awareness.

The findings show that young adults and even children are increasingly targeted. Millennials lost an average of GBP 1,456.90, which is three times the amount lost by Gen X (GBP 444.10). Additionally, 16% of UK parents with children aged between 7 and 17 reported that at least one family member has been a scam victim.

The most common form of fraud was purchase fraud, affecting 45% of victims. Those who believed they could recognize scams lost an average of GBP 1,591.90. Despite the extent of fraud, 77% of victims reported the scam to their payment service, and 47% managed to recover some funds.

According to the survey, 91% of adult respondents take steps to verify whether an offer is genuine or not. The report advises consumers to use official websites for purchases, seek a second opinion on unexpected communications, avoid responding urgently, and report scams to Action Fraud. They are also encouraged to forward phishing emails to [email protected], spam messages to 7726, and visit the Government’s ‘Stop! Think Fraud’ website for additional assistance.