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TSB highlights common purchase scams as shoppers gear up for Christmas

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TSB highlights common purchase scams as shoppers gear up for Christmas



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Purchase scams have made up more than half (55%) of authorised push payment (APP) fraud cases recorded by TSB so far this year, the bank has warned.

As people prepare their shopping lists for Black Friday (November 29) and Christmas spending, the bank analysed cases between January and October 2024 in which customers had been tricked into transferring money to fraudsters.

Tickets for concerts and football matches are among the items that scammers often offer, as are clothing including trainers, children’s toys, games consoles, designer items, and electrical goods, according to the bank’s analysis of customer data.

Criminals may also purport to be selling cars and motorbikes and may request a deposit, TSB said.

Crooks are listing items that simply don’t exist

Nicola Bannister, TSB

Many cases originate on social media, the bank added.

Mandatory reimbursement rules came into force in October, overseen by the Payment Systems Regulator (PSR).

Under the new rules, banks must reimburse APP fraud victims, unless the customer has been grossly negligent.

The new protections apply when a transfer is made to and from a UK bank account. They cover transactions made from October 7 onwards and do not apply retrospectively.

Reimbursement is mandatory up to the value of £85,000 and firms can also opt to apply an excess of up to £100.

Some account providers have pledged to waive the excess – and some may also choose to consider claims for more than £85,000.

TSB, which has been operating its own fraud refund guarantee since 2019, has pledged to waive the £100 excess.

The bank has also said it will continue to review claims outside the scope of the rules on a case-by-case basis.

We’d advise sticking to reputable websites and only buying an item you’ve found on a social media platform if you can view it in person first

Nicola Bannister, TSB

TSB said it has found that nearly half (48%) of purchase fraud cases are for £100 or less.

The cases it has dealt with include a male customer who paid £50 for a ticket to a concert that was happening that evening. The seller sent him a screenshot with the ticket on as proof and, once payment was made, the customer was then blocked.

Nicola Bannister, director of customer support, TSB, said: “At this time of year, we’re all shopping online more than ever – but it’s important to be wary of scams on social media platforms, as crooks are listing items that simply don’t exist.

“We’d advise sticking to reputable websites and only buying an item you’ve found on a social media platform if you can view it in person first.”



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