If we work together we can beat the scammers

Fraud is big business. According to UK Finance data, last year a whopping £1.17billion was lost in fraudulent transactions. However, a further £1.45bn was saved after being prevented from being stolen by the industry.

- MARTYN JAMES

The sheer scale of fraud is daunting. So we all need to be vigilant to stop the scammers once and for all. But with fraudsters relentlessly targeting us using ever more inventive ways of ripping us off, how on earth can we stay on top of the tidal wave of scams doing the rounds?

If you follow these simple tips, you should be able to avoid the vast majority of scams.

According to the latest statistics, 70% of fraud originates online while the next 16% occurs through telecommunications. So clearly, the best way to counter fraud is to be cautious about any email, call or message that asks you to provide details, transfer money or click on a link.

Remember, anything can be convincingly faked. That includes websites, business branding and phone numbers that look like they've come from your friends or relatives. One of the most common forms of impersonation scams involves phone calls from fake government-linked ‘official’ organisations, well known businesses or authority figures like the police.