TSB is warning online shoppers to be on their guard against widespread purchase fraud ahead of Black Friday and Christmas, as new research (involving 2,000 Brits) reveals one in three has fallen victim to a purchase scam on social media or secondhand platforms. 

TSB's own internal data found that purchase fraud accounts for 45% of all TSB bank transfer losses, and up by 4% year-on-year.  

Younger shoppers are most likely to have experienced this, with 49% of 25–34-year-olds and 44% of 18–24-year-olds having been caught out. Overall, 53% of Brits surveyed have either fallen victim to purchase fraud themselves or know someone who has, highlighting the scale of the issue. 

With Black Friday and Christmas approaching, polling shows that consumers expect to spend an average of £245 on gifts and purchases over this period. TSB is urging consumers to be vigilant, with customer data showing that purchase fraud losses total £2.3million at TSB this year alone and with an average loss of £540 per customer. 

Its customer data also reveals that Facebook accounts for two thirds of cases (65%), followed by TikTok (14%), Snapchat (7%) and Instagram (6%).  

Banks see all types of items and services scammed via purchase fraud. The biggest financial loss for purchase fraud is vehicles; followed by holidays and flights, tickets , car parts, pets and accessories. TSB also sees items such as clothing and phones commonly scammed - and even vapes made the most scammed list.

Polling found that due to the cost of living, 42% of Brits plan to rely more on discounts. Meanwhile, 37% plan to shop through second-hand marketplaces and a third through social media platforms, where fraudulent sellers and listings can be harder to identify. However, TSB found that four in ten Brits are not confident they can distinguish AI generated images from genuine photographs when shopping online. 

Richard Daniels, Director of Fraud Prevention, TSB, says: "Alarmingly, purchase fraud is a growing problem, so we're urging consumers to be especially careful where and who they shop with as we enter the busy sales, and Christmas shopping period."

"The sheer scale of shopping scams shows that you just can't fully trust a seller online, so be cautious and consider sticking to official sites, or marketplaces that offer a payment platform. Shop safely this autumn and winter." 

2026 RTIH Innovation Awards

Fraud prevention will be a key focus area at the 2026 RTIH Innovation Awards.

Check out our 2026 shortlists and finalists here.

The awards, which celebrate global retail technology innovation in a fast moving omnichannel world, have now closed for entries. Our winners will be revealed at the 2026 RTIH Innovation Awards Ceremony, taking place at The HAC in Central London on Wednesday, 4th November.

The event will consist of a drinks reception, three course meal, awards ceremony presided over by award winning stand-up comedian, presenter, actor and broadcaster, Aurie Styla, and after party until 1am.

Click here to book your place at the 2026 RTIH Innovation Awards Ceremony on Wednesday, 4th November.