Social media fraudsters conned a third of people
Lloyds Bank says 34% of Brits have been scammed buying from social media sites. The research revealed that the average amount of people are being conned into handing over on social media is £393, whilst 45-54-year-olds are being scammed out of about £498.
Among 2,000 UK adults surveyed, almost half of people had sent money via bank transfer to social media sellers without receiving their items.
More than 1 in 5 (21%) have bought an item on an online marketplace with bank transfer and never received it. 1 out of 8 customers have bought something in a social media group that didn’t arrive. Along with that, 12% have clicked on a link shared on social media and bought goods that were never delivered.
The research explained that consumers have a lack of understanding of the safest ways to pay for goods online. It happens because social media fraudsters can often trick buyers into paying by bank transfer.
55% consider bank transfer as a safe payment method, when, in fact, paying via credit card offers much greater protection.
More than 1 out of 4 admitted to buying something immediately if they see its cheap price, whilst 61% are not bothered about buying from well-known sites.