Nationwide issues scam warning over gift purchases – ‘Grinch that stole their Christmas!’ | Personal Finance | Finance
The building society is cautioning the public that fraudsters are becoming “the Grinch that stole their Christmas gifts” by targeting consumers who are desperately looking for the best deals. According to Nationwide, increasingly low stock on essential must-have items is leading to Britons having to snap up items as soon as they appear on shelves or sites.
This has led to purchase scams being on the rise, with fraudsters advertising deals which turn out to be too good to be too true.
Purchase scams involve people parting with their private personal and financial information with fraudsters asking them to share their details in order to put forward a transaction.
In a survey conducted by Nationwide, one in eight people in the UK admitted that they would rush into a purchase this year even if it looked unrealistic and potentially costly.
Furthermore, more than one in ten who were polled by the building society were found to have been tricked.
However, around one in three respondents said they are confident they will never be fooled by purchase scams in the future.
Nationwide’s data on the ongoing dilemma of purchase scams revealed that those aged between 21 and 30 are most susceptible to this type of fraud.
Ed Fisher, the Head of Financial Crime at Nationwide Building Society, outlined why this type of scam is on the rise and what can be done to top it.
Mr Fisher said: “After last year’s lockdown…