Lloyds Bank has issued a stark warning to customers as a rising number of people lose out on around £307 each.
It comes as data shows Facebook and Instagram scams involving cats, dogs, and other animals are up 24% this year alone. Lloyds said the most common tactic used by fraudsters is fake adverts, where the potential pet simply doesn’t exist.
Research shows people are losing an average £307 to pet scams, with more than half of the cons 50% of scams originating on Meta-owned platforms Facebook and Instagram.
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Scammers, the banking giant said, keep tabs on which breeds are in high demand, taking photos from the internet and sharing fictitious information about the animal, such as parentage or medical information, to create the illusion of authenticity.
At first, the scammer may appear to follow the steps of a reputable seller, by agreeing to a viewing of the pet in its home environment, or with its mother. It won’t be long before this is replaced by excuses and constant pressure to make a payment prior to a visit.
This can be for the full amount, or a deposit. As soon as money has been sent, the advert and scammer will disappear, sometimes after plucking the address of an innocent third party out of thin air, ensuring a wasted trip for the victim, alongside the stolen funds.
Lloyds said scams involving dogs are the most common, with typical breeds including Yorkshire Terriers and Blue Staffordshire Bull Terriers.
Liz Ziegler, fraud prevention director at Lloyds Bank, suggests the following tips for staying safe when making online purchases:
"If a seller is trying to rush you into making a decision, or bombarding you with messages about how in-demand something is, take a step back and ask yourself why they’ve taken such a keen interest in you securing what they’re offering. Remember, you don’t know each other, so this is pressure selling in action.
"If something is sold out everywhere else, but easy to find on social media or online marketplaces, this should raise a red flag. If reputable, established online stores and sellers can’t supply something, it’s unlikely third-party sellers can either.
"If someone contacts you out of the blue with an offer, particularly if this comes shortly after you’ve posted that you are looking for something, or joined a related social media community, be wary as reputable sellers don’t need to do this.
"If you’re looking for a pet or a large item (such as a car) where a viewing is necessary, but find the seller has endless excuses as to why it’s not possible before you make a payment, don’t send them money in any circumstances.
"There is very little stopping fraudsters setting up multiple profiles to post endless fake adverts on social media marketplaces. Be very careful when shopping through online marketplaces and always pay by card.
"Card payments have long-established protections if anything goes wrong with the sale, through the chargeback and Section 75 schemes. Remember, paying by bank transfer is the same as handing over cash."
A spokesperson for Meta, which owns both Facebook and Instagram, previously told the ECHO: “This is an industry-wide issue and scammers are using increasingly sophisticated methods to defraud people in a range of ways including email, SMS and offline.
"We don’t want anyone to fall victim to these criminals which is why our platforms have systems to block scams, financial services advertisers now have to be FCA authorised and we run consumer awareness campaigns on how to spot fraudulent behaviour.
"People can also report this content in a few simple clicks and we work with the police to support their investigations.”
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