TSB has thrown a light on the scale of social media scams on platforms such as Facebook, WhatsApp and Instagram.
The bank says a significant proportion of the cases it sees have been coming through these services. Its own internal data shows scams that come through these Meta-owned companies account for around 80% of fraud cases within its three biggest fraud categories.
TSB analysed its customer fraud data from January 2021 to December 2022 to make the findings. The data relates to cases where the platform has been recorded.
