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A huge surge in fraud has been revealed as banks, Royal Mail and delivery firm Evri targeted
A staggering 70% of UK consumers have been targeted by scam messages appearing as trusted sources such as delivery companies, banks or government bodies, a survey reveals. Over half of those targeted (56%) suspect the use of AI, including fake voices or images, in these fraudulent attempts, according to the poll conducted by information and insights firm TransUnion.
Around 9% of respondents admitted to losing money to scams impersonating brands, with 2% still clueless about how they were duped. More than one in 10 victims (11%) reported losses of at least £1,000.
The average loss from scams involving official-looking communications from banks, including Natwest, Lloyds, Nationwide and Santander, was £757.64.
Younger consumers, particularly those aged 25 to 34 (13%) and 18 to 24 (11%), appear more susceptible to these scams, possibly due to their reliance on mobile messaging, reports Wales Online.
The UK’s most impersonated brands are Royal Mail – with 40% of UK adults saying they have received a fake message from fraudsters claiming to be from the firm – and Evri – with 38% reporting a similar message from the courier.
Delivery fraud – where consumers are notified about a fictitious upcoming or missed parcel delivery – remains the most common tactic for fraudsters.
TransUnion chief executive Madhu Kejriwal said: “As fraudsters exploit artificial intelligence, scams are becoming more sophisticated and harder for consumers to spot due to their sheer volume, accuracy and tone.
“These scams don’t just look real, they feel real. Whether it’s a delivery text arriving just when you’re expecting a parcel, or an email that looks like it’s from your bank, it’s more important than ever that consumers stay vigilant.”
Chad Reimers, general manager of identity and fraud at TransUnion in the UK and Europe, said: “Consumers should be aware that even if a relatively small sum of money has been lost, it may just be the first phase of the fraudster’s objective.
“In some instances, once fraudsters have access to personal details or login credentials, they will look to ‘take over the account’ leading to further financial withdrawals, applying for additional credit lines and in some cases may even coach or coerce witting or unwitting money mules to shift funds quickly through accounts to launder their ill-gotten gains.
“It is, therefore, important that consumers stay vigilant and immediately report suspicious activity, especially in situations where they suspect their details have been compromised, and not just when money has been taken.”
The survey comes as financial technology platform Adyen reported UK shoppers affected by fraud losing an average of £757.64 over the past 12 months.
It said the UK recorded a 144% surge in the value of money stolen per shopper in the past year, second only to Canada.
Adyen also found that consumers were worried about AI and its impact on fraudulent activity, with almost one third (29%) saying that they are concerned about an increased risk of fraud and scams.
Brigette Korney, global head of risk and fraud prevention at Adyen, said: “With AI, fraud is a lot harder to detect, because those AI models are able to really replicate what a human would write or say.
“Social engineering kits now write flawless emails, texts and even clone brand sites. Stolen credentials are fed straight into mobile wallets, bypassing many legacy checks. AI-authored lures such as texts or emails are no longer riddled with spelling mistakes; they read like brand-approved marketing copy and are arriving at industrial scale.
“As AI technology is constantly evolving, educating shoppers about its potential impact on fraudulent activities is crucial, especially considering the varying levels of tech-savviness among customers.”
YouGov surveyed 2,180 UK adults for TransUnion in June.
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