£177.6 million lost to impersonation scams in 2022

£177.6 million was lost to impersonation scams in 2022, data published by trade association UK Finance has revealed.

The data showed that there were 45,367 cases of impersonation scams in 2022. It also revealed that just 51% of individuals always check whether a request for personal data or money is legitimate. Just 38% of 18–34-year-olds always checked, according to UK Finance's research.

Impersonation scams involve criminals pretending to be a trusted organisation such as a utility company, your bank or the police, and often begin with an email, text or call with a request for money or personal information.

UK Finance says individuals should stop and take a moment to think before parting with money or information; challenge any unsolicited communication; and protect themselves and their finances by contacting their bank immediately if they think they've fallen for a scam.

Katy Worobec, Managing Director of Economic Crime at UK Finance, said:

'We receive genuine communication from trusted organisations on a daily basis, meaning it's not always easy for us to spot when an approach for information is in fact from a criminal.

'Anyone can be caught out by a scam in the heat of the moment and criminals are constantly adapting their tactics to appear legitimate.

'It has never been more important to take steps to check for genuine communication and follow the advice of the Take Five to Stop Fraud campaign and to stop, challenge and protect.'

Internet link: UK Finance website