Last year saw a record number of scam attempts; revealed Trust Payments, a fintech powering truly innovative customer commerce solutions. The company conducted an online poll in partnership with YouGov finding that 93 per cent of Brits received a scam text or email in 2022.
Research by Trust Payments also found that half of Brits had experienced weekly scams (51 per cent). Seventy-eight per cent also reported receiving at least one scam attempt a month.
The online research also took a look at the groups and demographics most targeted by scammers. In a sign that scammers are targeting older generations, 18 to 25-year-olds reported experiencing almost half the number of weekly scam attempts compared to the over 55s (21 per cent vs 41 per cent). Families with teenagers appear particularly vulnerable to scams, with 63 per cent of families with children aged 12 to 16 receiving weekly scams.
A geographic divide was even found for frequent scams (meaning over one scam attempt a week). More people in Wales (42 per cent), Scotland (43 per cent), and Northern Ireland (46 per cent) reported receiving more than one scam email or text a week compared to those in England (36 per cent).
Students and the unemployed were least likely to receive widespread scams, with only around a third (36 per cent) reporting receiving scams at least once a week. Students were also the most likely to have never received a scam with 14 per cent saying they hadn’t received one. This compares to only two per cent of all Brits. These findings suggest that scammers are placing their focus on those with more cash – as 53 per cent of workers and 51 per cent of retirees receive a scam at least once per week.
Staying alert to fraud attempts
Banks and other financial services providers such as Trust Payments use various tools and AI to conduct fraud checks. The use of biometric technology and two-factor authentication is also becoming more common to mitigate fraud. However, Trust Payments explained that it hopes its research can support Brits as they look to stay alert throughout 2023.
The fintech has called on everyone to do their part to tackle fraud. It explained that everyone should always double-check that text messages or emails claiming to be from friends, family or colleagues are sent from the person they’re claiming to be sent from. Trust Payments is also encouraging Brits to only send money using payment methods they are comfortable with and to avoid sending personal or banking details to people or organisations they don’t trust.
