UK Finance is estimating that up to £100 million will be lost to fraud over the festive season. So I’ve teamed up with them to give you our latest tips on the latest scams to watch out for.

Purchase scams 

As the name suggests, purchase scams work by tempting you with offers on goods or services that look… well… too good to be true.

Call your bank straight away if you’ve been tricked into transferring money to a fraudster (Picture: stock.adobe.com)

To my immense annoyance, a lot of these adverts are on pretty major social media sites (you know the ones) or on equally big search drives. You order, then nothing happens. Or something terrible turns up, like a photo of an iPhone, rather than an actual iPhone.

Beat these scams by only paying by debit or credit card. You can ask the card provider to ‘charge back’ your cash if something goes wrong.

Fake delivery texts / impersonation fraud 

That old classic, the fake bank email, is doing the rounds loads at the moment. The agenda is to steal your personal information, passwords or account information. I was nearly fooled by a fake PayPal email the other day that suggested I‘d bought something I hadn’t.

Oh, and though Christmas may be over, the sales are on, and there’s a spate of fake text messages from delivery companies. These messages claim they need information to deliver a parcel. Don’t trust calls, messages or emails bearing links or requests for info. Always go through the official website when investigating if the messages are legit.

Advanced fee fraud

I’m currently being plagued by fake WhatsApp messages claiming to be from recruitment firms. You may also be told you’ve qualified for a loan or credit. The big clue here is they are either unsolicited or from abroad – and they’ll ultimately ask you to pay a fee.

There’s a bit of an urban myth out there that suggests because WhatsApp is encrypted, it’s not possible to use it to commit fraud. However, while hacking the service might be tricky, it’s not that difficult for an enterprising fraudster to take over an account or impersonate one.

Fake relatives

This works by tricking people in to believing a relative is in trouble and needs cash. You’ll receive a message or call from an unknown number, purportedly from a friend or family member. This usually suggests that they have lost their phone and borrowed one (hence the unknown number). Next you’ll be told about a potential emergency situation, in the hope you’ll transfer some cash over without thinking. This con is so successful and ubiquitous it even formed the basis of a recent episode of the Simpsons.

Remember, these scams work by putting you under pressure to respond without giving you time to think. So don’t transfer cash. Remember – if a friend or family member really is in desperate need, they’ll borrow a phone and call you. The won’t send a text message.

Money transfer scams

Fraudsters know that when you send money by bank transfer, other methods like PayPal’s friends and family option or even an international wire transfer service like Western Union, you can almost never get it back.

You may be offered a discount on a holiday booking, by going ‘offsite’ to make a money transfer. Or you might be told you’ll be refunded the standard transfer fee if you use one of the methods above. Either way, don’t be tempted to make a direct transfer.

If you’ve been scammed…

Don’t forget, the quicker you act the better the chance you stand of getting your cash back. If you’ve transferred money to a fraudster, call your bank asap or dial 159 – a number run by the free Stop Scams UK service – that will connect you to your bank or a leading retailer.

Martyn James is a leading consumer rights campaigner, TV and radio broadcaster and journalist. Visit martynjamesexpert.co.uk.

All the latest seasonal scams to watch out for - Martyn James

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