The number of purchase fraud cases seen by TSB jumped by more than a third (35%) between January and October 2023, compared with the same period in 2022. According to TSB’s data, more than £500 was lost per case on average.

Purchase frauds happen when criminals trick people into paying for goods and services that do not exist, with scams often starting on social media, according to the bank. Vehicles and parts, tickets for events, trainers and clothing are often items being offered by scammers, TSB said. TSB is also urging consumers to be wary of adverts selling pets, holidays, cosmetics, jewellery and watches.

https://www.msn.com/en-gb/money/other/tsb-bank-customers-warned-to-take-action-to-avoid-losing-500-to-scams/ar-AA1jvpDQ