All social media users have been issued a stark warning from Lloyds Bank over the £570 lost per person to shopping scams.
The institution, which is a sister bank to Bank of Scotland and Halifax, says Facebook and Instagram purchase scams are expected to cost Brits more than £270 million this year.
Lloyds says social media has become the "Wild Wild west" due to the combination of a rising popularity of online shopping and a surge in fraudsters leading to people paying for goods that do not exist.
