Scammers are using the cost of living crisis to target unsuspecting victims

Scammers are increasingly taking advantage of people’s fears about rising energy and food prices, according to a new UK-wide survey.

illions of people may have being targeted by scammers, according to the Department for the Economy’s Trading Standards Service (TSS), citing the recent survey as it launched its annual scams awareness campaign in partnership with other UK agencies.

The survey found that 77% of people surveyed had been contacted by someone they believe was trying to con them, with 5% admitting they were scammed.

If that figure was applied UK-wide, it means as many as 41m adults may have had contact with a scammer.

Respondents to the survey by Yonder Data for Citizens Advice were also asked how worried, if at all, they are about the cost-of-living crisis on their personal finances.

Of those who had been scammed, 83% said they were very worried or fairly worried.

People are being warned that if a deal seems too good to be true, then it almost certainly is a scam, and are being advised always to step back and double check, to be suspicious of any pressure to transfer money quickly or in an unusual way, and to be careful before giving away personal information.

“We know scammers prey on our worries and fears and the cost-of-living crisis is no exception,” said Economy Minister Gordon Lyons.

“As the purse strings are tightened and financial pressures pile on, it is more important than ever we recognise the red flags.

“Anyone can fall victim to a scam. People of all ages and backgrounds get scammed. It is important to be on your guard — if you are not sure about something, take your time and get advice.”

“Unfortunately we have seen over many years that scammers seek to exploit vulnerability,” said TSS chief inspector Damien Doherty.

“During times of difficulty, we often see a corresponding increase in relating scams and from early data, the cost-of-living crisis seems to be no different.

“TSS has seen a range of different cost-of-living scam tactics used by scammers, including impersonation scams and cryptocurrency scams.

“With more than three quarters of UK adults having said that they have been targeted by a scammer this year, a 14% increase compared to this time last year, if you think someone might be trying to scam you, it is important to act straight away. If you need advice, guidance or support please call Consumerline on 0300 123 6262 or log on to their website.”

Cryptocurrency scams are becoming more and more popular as people chase the possibility of making extra cash via online investment platforms.

Fraudsters will typically use social media platforms to advertise and convince victims to sign up to cryptocurrency investment websites.

People are advised to get independent advice and thoroughly research the company first by checking the Financial Conduct Authority (FCA) Register.

Scammers will use all ways to contact potential victims, deliveries, postal or courier services and online, most offering fake investment or financial “get rich quick” schemes.