Average loss to impersonation scams soars by 10% year-on-year – the key signs to watch out for

Millions of Brits are being warned to watch out for impersonation scams as the average amount victims lose is up 10% year-on-year, to £3,516. Impersonation scams are when criminals pretend to be a trusted person or organisation, such as a bank or the police, to trick you into sending them money or sharing private information. The average amount you could lose from an impersonation scam is on the rise Credit: Getty One victim lost £188,000 over a five month period Lloyds Bank said fraudsters pretending to be from banks, the police, HM Revenue and Customs, broadband and mobile providers and Amazon all went up in the past year. HMRC scams have seen the biggest increase, up 63% in the last 12 months. Sign up for the Money newsletter Thank you! But the overall volume of impersonation scams reported to Lloyds has fallen by 3% compared to the previous year. It’s important to remain vigilant as the scam can see victims lose hundreds of thousands of pounds. In one instance Lloyds said it saw an 85-year-old woman lose £188,000 to a police impersonation scam. The victim was persuaded to make eight purchases of gold across a five-month period, with a total loss of £188,000. The gold was then collected by someone she believed to be an undercover police officer involved in an investigation. How does the scam start? Scams often start with a phone call, email or message on social media Credit: Alamy Impersonation scams often start with a phone call, text, email or social media message. Most read in Money In police and bank scams, victims may be told their money is at risk and asked to move it to a “safe account”. In some cases, criminals tell victims their own bank is involved in fraud, then coach them to lie if a genuine member of bank staff asks why they are moving money. HMRC scams can involve messages about tax refunds to persuade people to click on a link and enter personal or financial details. Victims of HMRC impersonation scams lost £2,288 on average over the past year, Lloyds said. Broadband and mobile provider scams involve claims of issues with a bill, contract or internet connection, before asking for personal details or payment. The average amount lost to broadband and mobile provider impersonation scams is £1,169, according to Lloyds. Liz Ziegler, a fraud prevention director at Lloyds, said: “Summer can be an expensive time of year, with many people focused on managing their finances around holidays, family days out and other seasonal costs. “Fraudsters know money is often at the top of people’s minds and use convincing stories about account issues, refunds or urgent payments to pressure people into acting quickly.” She added: “A scam message is designed to rush you. It will make you feel you need to act straight away or keep things secret.” Lloyds’ figures were based on analysis of scams reported by Lloyds Banking Group customers between July 1, 2025 and June 30, 2026, compared with July 1, 2024 and June 30, 2025. How can I spot a scammer? Hidden clues and tricks can help YOU spot a scammer before you lose any cash Credit: Alamy Do not move money to a “safe account”. Liz warns banks and the police will never ask you to transfer money to protect it from fraud. Never give items to couriers or post them. Banks and the police will not ask you to hand over cards and pins, or buy expensive items such as gold or jewellery. A genuine organisation will also never ask for your full password, PIN or one-time security code, so these could be key signs you’re speaking to a scammer. How do I report a scam? Always report a scam, even if you didn’t lose any money Credit: Misha Shutkevych Never rely on information you are given by a person or company who has contacted you out of the blue. If you are called by someone claiming to be from a bank, the police or another organisation then hang up. HMRC will never notify you of a refund by text or ask you for personal details through links in messages. Speak to your bank by calling the number on the back of your card if you are concerned. Be truthful when speaking to your bank as its fraud checks are there to protect you. Always be honest about where you are sending money and why. If you’re approached by scammers then you can report them by calling Report Fraud on 0300 123 2040. You can also call the FCA helpline on 0800 111 6768. If you suspect a call, text or email could be from a scammer then it’s important to report it, even if you haven’t lost any money. Comment now