Christmas Scam Alert: Santander UK Issues Warning as Nearly £2M in Losses Reported Last Year

Santander UK has urged individuals and businesses to be extra vigilant against fraud during the festive period as Christmas is coming. The bank’s data reveals that customers reported nearly £2 million (£1,999,444.34) lost to Authorised Push Payment (APP) scams between December 25, 2023, and January 1, 2024. This total includes an individual loss of more than £600,000 due to an investment scam, marking the largest amount lost by a Santander customer in 2023.

On Christmas Day last year, customers reported scams involving online purchases, such as clothing bought on Instagram, as well as football and Taylor Swift tickets purchased on Facebook Marketplace. On Boxing Day, several customers were contacted by scammers posing as their bank. Scammers also remained active on New Year’s Day, with reports of advance fee scams, including a £1,700 payment to secure a job offer via WhatsApp.

Santander data from December 25, 2023, to January 1, 2024, shows:

• In total, 596 scams were reported by the bank’s retail and business customers.  

• On Christmas Day itself, customers contacted the bank about ten scams, worth £3,971  

• On Boxing Day, 25 scams were disclosed, costing £45,788.01  

• On New Year’s Day, 24, with a value of £7,004 

Santander UK’s Behavioural Scientist, Pete Staffel is urging customers to remain vigilant as the festive season approaches: “Don’t let the build up to Christmas cloud your senses. Scammers don’t take the holiday season off, and whether it’s through “buy it now” ads, impersonating your bank, or offering a too-good-to-be- true investment, they will be looking for ways to be the grinch that steals more than your Christmas.”

Santander’s Top Tips to Spot Potential Fraud and Scams:

• Think Before You Pay: Always take time to think before making a payment and pay extra attention to the warnings your bank shows you while making it. 
• Be Cautious with Social Media Purchases: especially if it’s something that is sold out everywhere or being sold at a price that seems too good to be true. 

• Verify Contact Information: Anyone can be easily impersonated. So, if you get an email, text, or call, check it’s genuine by phoning them back on a known and trusted number.  

• Conduct Extra Checks: Always take time to complete extra checks when you make a payment. This can be reading reviews, researching companies or websites, and checking if the person or company is who they say they are. 
• Double-Check Social Media Contacts: Think you’re buying from your mate? Call them first. Always speak in person using a number you trust (not one they’ve sent you).