Impersonation and catfish scams are on the rise Barclays warns

From: RegTech Analyst

The Covid-19 lockdown has encouraged scammers to take up their efforts a notch, according to Barclays.

The bank has warned that the monthly figures of scammers impersonating police or bank staff almost doubled in June, compared to May.

At the same time, the number of romantic catfish frauds jumped by 86%. Overall, the number of scams in June 2020, saw a 33% rise from May 2020.

“Scammers are using increasingly sophisticated and persuasive means to try and get what they want from unsuspecting members of the public,” said Jim Winters, head of fraud at Barclays. “They have taken advantage of the lockdown situation and targeted individuals at a time when they may be feeling more vulnerable and have more time on their hands to entertain such exchanges.

“They may also not have the support networks around them that might otherwise stop them falling victim in the moment. We all need to remain vigilant, do the appropriate research before making payments and never give out our personal information.”

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