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Barclays reveals 7 in 10 Brits have seen increase in scam-related activity

Barclays, a British universal bank, has warned the public to be wary of the psychological tricks used by scammers, as the bank’s latest data shows a 17% increase in reported scams in the last three months. 

The advice comes as consumer polling shows that 7 in 10 Britons have seen an increase in suspicious or scam-related activity in the last three months, but nearly a third of the respondents admit they wouldn’t know what to do if they were in that situation. 

Purchase scams, where people buy goods online that don’t exist or never arrive, accounted for over half (53 %) of the reported scams in Barclays data – with an average value of £980. 

Barclays’ Chief Behavioural Scientist Dr. Pete Brooks explains: “Scammers create a perceived scarcity and therefore ‘value’ in what they are selling to motivate consumers to act quickly and not rely on their better judgment.”. 

According to Barclays, people should never be rushed, read reviews of the site where they are shopping, double-check everything before making a purchase, always question whether something appears to be too good to be true, and never be afraid to be suspicious.

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