Barclays has issued a new bi-monthly bulletin highlighting trends in scam activities affecting personal and business accounts. The latest data from March and April 2024 reveals a 15.7% decrease in the total value of scam claims and a 7.1% reduction in the volume of claims compared to the previous two months.
Notably, invoice and mandate scams have seen a significant increase, rising by 6.9%, with average claims exceeding £8,600. These scams involve fraudsters tricking organizations into altering bank account details for payments. The bulletin underscores the sophistication of these scams and emphasizes the importance of verifying invoice and payment details.
Conversely, police and bank impersonation scams have decreased by 32.9% in volume and 54.3% in value. Despite these positive trends, Barclays warns that scams via text and messaging apps remain prevalent, making up 8.2% of all scam claims with an average claim value of £2,100.
Kirsty Adams, a Fraud & Scams Expert at Barclays, highlights the importance of vigilance, especially during periods of high invoice payments like the summer season. She advises checking payment details against previous invoices and verifying changes with known contacts.
Barclays’ bulletin aims to educate consumers on recognizing and preventing scams, providing detailed data and expert commentary. For more information and tips on protecting against scams, visit the Barclays website.
