Trade body issues warning over festive scams

27 Dec 2023

Trade body UK Finance has warned shoppers to be wary of scams over the festive period.

Nearly £100 million is forecast to be stolen from individuals looking for festive deals. UK Finance and Trading Standards have warned the public to be 'on their guard' when shopping during the festive season.

The National Cyber Security Centre (NCSC) stated that criminals are increasingly making use of artificial intelligence (AI) to generate and carry out scams, which include fake emails, adverts and websites.

UK Finance has advised shoppers to follow the advice outlined in the Take Five to Stop Fraud campaign, which urges individuals to challenge suspicious requests for money.  

Ben Donaldson, Managing Director of Economic Crime at UK Finance, commented: 'Whether selling fictitious goods online, impersonating delivery companies or offering you loans for festive shopping, criminals will try anything to ruin your holidays and steal your money.'