Social media concerns abound as TSB warns of spike in purchase fraud ahead of festive shopping season
With Black Friday and Christmas shopping season looming, TSB is urging consumers to remain vigilant to purchase fraud, as cases spike by 11%.
The bank’s data reveals that purchase scams now account for 63% of all bank transfer fraud cases reported by its customers - up from 52% in 2024.
It also recorded an 11% year-on-year increase in the volumes of purchase fraud cases between January and September 2025, with victims losing an average of £452 per scam.
It is a key driver of fraud cases across the banking sector, as UK Finance data recently revealed that purchase scams account for 72% of all fraud cases, and at a cost of £53 million in the first half of this year.
TSB is calling on social media companies to take urgent action - specifically, with the introduction of secure payment platforms to allow consumers to pay safely. Unlike traditional bank transfers, which rely heavily on trust and can leave victims vulnerable to scammers who vanish after receiving payment.
Social media platforms continue to be the origin of the vast majority of purchase fraud with scammers advertising fake listings of popular or hard to find items. Facebook accounts for three-fifths of all TSB purchase fraud cases, followed by Instagram (12%), WhatsApp (11%), Snapchat and Tik Tok (5%), X (4%), Gumtree (2%) and Telegram (1%).
2025’s most scammed items
TSB’s fraud team has identified the top ten targeted items in the bank’s reported purchase scams this year, highlighting a spike in pet fraud:
Concert tickets
Football tickets
Clothing - especially trainers
Children’s toys
Games consoles
Electrical goods - phones and laptops
Home repairs
Pet deposits (particularly for cats and dogs)
Vehicle deposits
Car parts
TSB says that social media firms should be made financially liable for the fraud they enable - paying towards a payment mechanism that TSB believes would incentivise them to remove scam content from their platforms.
Richard Daniels, Director of Fraud Prevention at TSB, says: "As we enter the busy shopping period, scammers will also be ramping up their activity with fake listings for goods and services that simply don’t exist. With so much fraud coming from social media platforms, we would advise consumers to only pay for an item if you can view and verify in person - stay safe online during the sales and into Christmas.”
2025 RTIH INNOVATION AWARDS
Fraud prevention were a key focus area at the 2025 RTIH Innovation Awards.
We received a record number of entries and many fantastic examples of the continued resilience and dynamism of the retail space during hugely challenging times.
For a full rundown of all of the shortlisted entries, click here.
Our 2025 hall of fame entrants were revealed during a sold out event which took place at The HAC in Central London on 16th October and consisted of a drinks reception, three course meal, and awards ceremony presided over by award winning comedian, actress and writer Tiff Stevenson.
In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “This is the awards’ fifth year as a physical event. We started off with just 30 people at the South Place Hotel not far from here, then moved to London Bridge Hotel, then The Barbican, and last year RIBA’s HQ in the West End.”
“But I’m conscious of the fact that, to quote the legend that is Taylor Swift, You’re only as hot as your last hit, baby. So, this year we’ve moved to our biggest venue yet, and also pulled in our largest number of entries to date and broken attendance records.”
He added: “This year’s submissions have without doubt been our best yet. To quote one of the judges: The examples of innovative developments across both traditional and digital retail spaces were truly remarkable.”
Congratulations to our winners, and a big thank you to our sponsors, judging panel, the legend that is Tiff Stevenson, and all those who attended our 2025 gathering.
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