The bank Santander has issued a warning to account holders after discovering that over 70 percent of purchase scams start on social media. The bank also called for other banks to follow a set of rules to help prevent fraud where people are persuaded to transfer cash to other accounts.
In one case, Santander reported that a 61-year-old woman was tricked into transferring several payments to someone she had made friends with while gaming online. The woman went on to make payments of more than £80,000 and was instructed to lie about the reasons for the transfers, reported the Liverpool Echo.
Santander revealed that the scam had emerged when the woman began to experience financial hardship. The bank went on to refund the woman before referring her to its specialist customer support team who continued to check on her welfare and provide support.
