Cases of the friends and family WhatsApp scam has significantly increased in the UK in recent years. Fraudsters use this scam to send messages pretending to be members of the family or close personal friends desperately needing financial help. With the cost of living crisis causing more people to struggle to make ends meet, requests for urgent financial help become even more believable.
The surge in Friends and Family Scam Cases
High street bank TSB has recently reported a concerning 58% increase in the “friends and family” scam, highlighting a growing problem in the UK. On average, victims of this scam lose around £1,500, but the amounts can vary significantly. In some instances, victims have lost as little as £50, while in more extreme cases, losses have exceeded £10,000.
The majority of victims have identified WhatsApp as the primary platform used by fraudsters to carry out these scams. However, some individuals have reported being targeted via SMS as well. This highlights the adaptability of fraudsters and their willingness to exploit multiple communication channels to deceive their victims.
In one case, a man was defrauded out of £1,700. This after receiving a request for help from someone claiming to be his daughter. The fraudster impersonating his daughter said she desperately needed help paying her bills. Unfortunately, the unsuspecting customer fell for the scam. Believing that he was genuinely helping his daughter in her time of need.
How Fraudsters Execute the Friends and Family Scam
Fraudsters behind this scam use various methods to trick their victims. Typically, victims receive a message over WhatsApp or SMS from someone claiming to be a close family member, colleague, or friend who urgently needs help. Various reasons are given, but the result is always a request for money sent to a bank account, not in the name of the person making the request – the first red flag.
The second red flag to watch for is the person claiming to be your friend or family member messaging you from a different phone number. They will offer an excuse, such as a stolen or broken phone, explaining why they are contacting you using a different number. The stolen or damaged phone is also sometimes used as grounds for the request for money.
Reporting Fraud and Taking Action
If you have fallen victim, it is of utmost importance to report the scam to the police and your bank. There are several reasons why swift action is crucial, and victims should never feel too ashamed or embarrassed to report such incidents.
First and foremost, the quicker you report the fraud, the better the chances of recovering your money. By reporting the incident promptly, you increase the likelihood of stopping the fraudster from withdrawing or transferring the stolen funds, thus improving your chances of reimbursement. Banks and law enforcement agencies have specific procedures and resources in place to track down fraudsters and freeze fraudulent transactions.
Secondly, reporting fraud helps law enforcement agencies gather valuable information about the fraudster’s tactics and strategies. Your report could be the crucial piece of information that leads to the identification and apprehension of the fraudster. This intelligence can then be used to warn and educate the public about ongoing scams, potentially preventing others from falling victim to similar schemes.
Victims often feel embarrassed or ashamed, believing that they should have been more vigilant or cautious. However, fraudsters are skilled manipulators who exploit human emotions and vulnerabilities. By sharing your story, you can encourage others to be more open about their own experiences. Creating a supportive community that fosters awareness and understanding. Furthermore, coming forward and sharing your experience can help break the stigma associated with falling for scams.
Tips to Avoid Becoming a Victim of Fraud
To protect yourself from this scam, stay vigilant and be cautious when receiving such messages. If you receive a message from someone claiming to be a close friend or relative on a phone number different from the one you have saved, call the person in question and confirm with them before sending any money.
Another way to protect yourself from the friends and family scam is to ensure that you never reveal any data to anyone. Especially over the phone or online. Fraudsters often use social engineering tactics to extract sensitive information from their victims.
