Lloyds Bank has issued a stark warning after people have been tricked into parting with their cash.
The alert comes amid a surge in purchase scams, where fraudsters lure customers into sending money for goods or services, that don't exist. Lloyds said such scams involving shoes and trainers have risen by 152% this year.
Victims lose an average of £152 - and Lloyds said Nike is one of the most common labels currently being used to promote this type of scam.
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The UK's largest bank also said another item that's seen an "explosion" in reported purchase scams this year is tickets, as fraudsters exploit people’s renewed desire to attend live events following the easing of covid restrictions.
While the overall number of ticket scams being reported is lower than some other items, the number of cases being reported has rocketed by a massive 603% already this year. The average amount lost is £251, with football matches and concerts the events most likely to appear in fake adverts.
Many consumers remain unaware that bank transfers were not designed as a way of paying for goods and services online, and therefore offer little protection if something goes wrong. Buyers who pay by credit card or debit card benefit from the well-established Section 75 and Chargeback rules which have been protecting customers for decades.
Liz Ziegler, retail fraud and financial crime director at Lloyds Bank, said: “Fraudsters are always on the lookout for new ways to trick victims out of their hard-earned cash, and with designer trainers amongst the latest must-have items being targeted, the criminals are ready to hotfoot it away as soon as they have their hands on your money.
“Purchase scams come in all shapes and sizes, but the vast majority start with items advertised on social media, where it’s all too easy for fraudsters to use fake profiles and advertise items that don’t exist.
“When shopping online, the best way to keep safe is to buy from a trusted retailer whenever possible, and always pay by card for the greatest protection. If you’re unable to do those things, that should be a big red flag that you’re about to get scammed.”
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