7 Common Scams and How to Protect Yourself (UK)

Fraudsters are getting faster, slicker and more convincing, and the UK remains a major target for organised crime. UK Finance reports that fraud losses still run into the hundreds of millions of pounds every half year, with the majority of authorised push-payment (APP) scams starting online or via telecoms channels.

1) Bank impersonation scams

Scammers pose as your bank (or the police), claim your account is at risk, then pressure you to “move” money to a “safe account.” In the first half of 2024, bank/police staff impersonation accounted for 15% of APP scam losses (about £32.3m). While losses fell year-on-year thanks to better warnings, the tactic remains widespread and convincing.

How to spot it: Banks never ask you to transfer money to a “safe account,” share full passwords, or read out one-time passcodes. Hang up and call your bank using the number on the back of your card.

Good news: Refund rates are improving, but they vary by firm, and prevention still matters most.

2) Cryptocurrency scams

Investment fraud remains one of the UK's costliest categories, with £649m lost in 2024; policing data shows cryptocurrency fraud is on the rise within that total.([cityoflondon.police.uk][4]) Fraudsters push fake trading platforms, celebrity-fronted ads, “guaranteed returns,” or clone websites of real firms.

How to spot it:

Verify the platform on the FCARegister and ignore pressure to deposit quickly. If a “broker” asks you to pay fees via crypto to “unlock” profits, it's almost certainly a scam.

3) Employment scams

With more job-hunting happening online, reports of job scams have surged one UK campaign group recorded a 259% rise in reports from late-2022 to late-2023.([getsafeonline.org][5]) Red flags include paid “training” before hiring, requests for upfront “background check” fees, or roles that ask for your bank/ID details before a contract.

How to spot it: Research the employer domain, cross-check the vacancy on the company site, and never pay to get a job.

4) AI-powered scams (deepfakes & voice cloning)

AI now fuels hyper-realistic fraud. Ofcom found 43% of UK adults had seen at least one deepfake in the previous six months (50% among 8-15s). Deepfake voices are used to mimic family members or executives, rushing you into transferring funds.

How to spot it: Introduce a code word for high-risk requests, use call-back procedures on known numbers, and be sceptical of urgent money demands—especially if the caller resists verification. For a deeper dive on mitigations (like provenance and watermarking), see Ofcom's “Deepfake Defences.”

5) Online marketplace purchase scams

Purchase scams dominate case volumes: criminals lure buyers with cheap “too-good-to-be-true” deals and divert payments to accounts they control. Secure by default habits checking the seller's history, paying by card (for Section 75/chargeback protection), and avoiding bank transfer significantly reduce risk. The NCSC provides straightforward shopping checklists and recovery steps if you get caught out.

How to spot it: New account, zero reviews, insistence on bank transfer, reluctance to use trusted payment methods

6) Romance scams

Romance fraudsters build trust over weeks, then claim an emergency or investment opportunity. UK sources put annual losses in the tens of millions, and multi-year totals exceed £400m.

How to spot it: They avoid video calls, push you off the platform to private chat, and ask for money or crypto. Never send funds or share ID/financial details with someone you haven't met and verified.

7) Tech support scams

A pop-up or cold caller claims your device is infected and urges you to install remote-access software or pay a fee. Microsoft stresses that it does not cold-call customers and warns that “scare tactics” are common.UK Trading Standards and Action Fraud detail how to report incidents.

**How to spot it:** Close the browser tab, don't call “helpline” numbers in pop-ups, and never allow remote access unless you initiated contact with a trusted provider.

Final word

Fraud evolves constantly, but the core defences are consistent:pause, verify through an independent channel, and pay only by protected methods. Education works industry data shows impersonation losses fell where strong warnings were in place but vigilance is still your best safeguard.

For training your team, reviewing payments controls, or building response playbooks, YRF Accountants can help.