Santander says millions at stake in 7-day warning to customers

Santander UK is alerting the public to be vigilant of fraudsters during the festive season, following nearly £2 million being reported lost to bank transfer scams by its customers from Christmas Day to New Year's Day last year. The bank disclosed that a staggering £1,999,444 was reported as lost to authorised push payment (APP) scams in the period between December 25 2023 and January 1 2024. This figure includes a single loss of more than £600,000 due to an investment scam, marking the largest amount lost by a Santander customer in 2023.

Scammers often view the Christmas holidays as an ideal time to strike, taking advantage of people's distractions with festive activities. They may entice individuals with offers on Christmas sales or concert tickets for the upcoming year. On Christmas Day, there were reports of online scams involving clothing purchases on Instagram and tickets for football matches and Taylor Swift concerts bought on Facebook Marketplace.



Get the latest news straight to your phone by joining us on WhatsApp Impersonation scams are also a risk, particularly when people spend time at home relaxing over the holidays. On Boxing Day, Santander received several claims from customers who had been approached by scammers impersonating their bank. The activity continued into the New Year, with reports on New Year's Day 2024 of various advance fee scams, including one where a customer paid £1,700 in hopes of securing a job offer from a "recruiter" they communicated with via WhatsApp, reports the Liverpool Echo .

Data from Santander, covering the period from December 25, 2023 to January 1, 2024, reveals that the bank's retail and business customers reported a total of 596 scams. On Christmas Day alone, customers contacted the bank about 10 scams, amounting to £3,971. The following day, Boxing Day, saw 25 scams disclosed, costing victims £45,788.

On New Year's Day, there were 24 scams reported, totalling £7,004. Anyone concerned about a potential scam can call the 159 – a simple-to-remember number that many banks have signed up to. If someone believes they have been scammed, they should contact their bank immediately.

Scams can also be reported to Action Fraud..