Our level of understanding of the most common scams and frauds has never been higher. In fact, our research* shows that the vast majority of us can easily spot an approach from a scammer.

However, even though we have a good level of knowledge about scams, there are still two reasons why we might fall victim.

The first is that unfortunately some of them are really good at what they do. Even if we know something’s likely to be a scam in theory, we fall for it in practice. The second is that just when we’ve got to grips with the latest threat, scammers will find a new way to part us from our money.

So as part of Fraud Awareness Week, it’s worth getting on top of some of the scams we’re more likely to fall for at the moment.

*Opinium survey conducted for HL, December 2020, 2,000 participants.

Booming fraud trend

In the first half of this year, criminals stole £753.9 million through fraud, up almost a third in a year. There was a particularly striking boom in what’s known as ‘push payment fraud’ – which is up 71% to £355.3 million. This is where we’re tricked into willingly transferring money to criminals. These scams often start with fraudsters getting in touch out of the blue, either through email, a phone call, or a text message. They use a variety of techniques to persuade us to transfer money to them.

The biggest rise in this kind of fraud is impersonation scams, when they often call claiming to be from your bank or from the…

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