With Christmas fast approaching, Lloyds Bank is warning of a surge in purchase scams targeting panic buyers, especially after reports of potential shortages of certain items. 

Scams targeting people buying cars, phones, puppies and trainers have become particularly prevalent over the past three months, with scammers appearing to cash in on Britons renewed appetite to spend post lockdown.

Purchase scams occur when someone is tricked into sending money via a bank transfer to buy something which is often advertised online, which doesn’t actually exist.

Lloyds Bank is warning of a surge in purchase scams targeting panic buyers over the Christmas period

The adverts commonly appear on social media sites with those aged between 25 and 34 the most likely to become victims. 

Cars are the most common purchase scam reported to Lloyds. It comes as drivers struggle to get their hands on cars, with many manufacturers citing long waits for a new one while used motors prices are up 27 per cent in year. 

This could panic people into making rash decision not to ‘miss out,’ only to find the car doesn’t exist and scammers have made off with four or five figure sums. 

While cars take top spot, a number of popular pre-Christmas gifts and Black Friday hot items also make the top five purchase scams

This Black Friday is predicted to become the busiest shopping day on record, according to Nationwide Building Society, which is forecasting spending on the day to be up by nearly…

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