TSB has issued a warning on the scale of social media scams taking place through services such as Facebook, WhatsApp and Instagram, as the bank says a significant proportion of the cases it sees have been coming through these platforms.
The bank said that its own internal data indicates scams that come through these Meta-owned companies account for around 80% of fraud cases within the three biggest fraud categories at TSB.
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.
