TSB is warning people to be on the lookout for scammers as reported cases of impersonation fraud have surged by 300% since 2019.
Impersonation fraud is an attack in which a criminal impersonates a company, business, organisation or individual as a key component to lure unsuspecting people into sending money to them. The bank said the average victim of such a fraud loses around £4,000, with Royal Mail, Amazon and BT being among the most-well known brands being used to dupe people.
New industry figures from Action Fraud show there has been more than £2 billion worth of reported fraud in less than a year.
