TSB Bank has issued a fresh warning about a sharp rise in purchase fraud as the festive shopping season approaches.
The bank said such scams now account for 63 per cent of all bank transfer fraud cases reported by customers, up from 52 per cent a year earlier.
The findings are based on TSB’s analysis of fraud cases between January and September 2025, which showed an 11 per cent increase in incidents compared with the same period last year.
Each victim lost an average of £452, highlighting the growing scale and financial impact of the crime.
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Purchase fraud occurs when victims pay for goods or services that never arrive.
TSB warned that social media platforms have become the main channel for these scams, as criminals use fake adverts to lure shoppers searching for popular or hard-to-find items.
“Fraudsters know shoppers are under pressure to secure deals during the festive rush, and they exploit that urgency,” the bank said.
Its analysis found bogus listings for concert and football tickets, designer footwear, children’s toys, and high-demand electronics such as gaming consoles.
TSB warns of surging purchase fraud ahead of festive shopping season
|GETTY
Criminals have also targeted motorists with fake vehicle deposits and car parts.
TSB noted a growing number of pet scams, in which buyers are asked to pay deposits for animals that do not exist, and home improvement frauds, where rogue traders take payments for work never carried out.
The bank said the surge in purchase scams underlines how criminals are adapting to modern shopping habits.
With more consumers using social media to find deals, the platforms have become prime hunting grounds for fraudsters.
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TSB says rising purchase scams show criminals are evolving with modern shopping habits
|GETTY
TSB urged shoppers to buy only from verified retailers, use secure payment methods, and be cautious of deals that appear too good to be true.
Official data from UK Finance shows criminals stole £629.3million through scams in the first half of 2025.
That figure marks a three per cent rise on the same period last year.
More than two million fraud cases were reported between January and June, a jump of 17 per cent.
Pensioners could be at a heightened risk
| GETTYAround two-thirds of all scams began online, while 17 per cent started over the phone.
Banks prevented an estimated £870million of attempted fraud thanks to improved security systems.
Despite those efforts, victims still lost more than £100million that could not be recovered.
Purchase scams remained the most common type of fraud, with losses exceeding £50million in six months.
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