MORE than 400,000 Scots – approaching a tenth of the population – have fallen victim to a financial scam at some point in their lives, according to new research.
The Bank of Scotland How Scotland Lives study found that one in three people (29%) knew someone who has been duped, but despite this 84% said they were confident that they would be able to spot a financial scam.
More than three quarters (78%) said they can keep up with the potential risks surrounding such frauds.
A third (33%) of clued-up Scots said they had been targeted by fraudsters but were able to put a stop to it.
And, despite sometimes being considered a more likely target for scammers, those aged over 55 were most confident that they could spot a potential fraudster (86%), while those under 24 are the least confident in their ability to do likewise (81%).
The research was commissioned to coincide with Citizens Advice Scotland’s Scams Awareness 2019, which ends on June 23. It also found that dodgy phone calls (37%) and fake emails (36%) were the most common ways for fraudsters to target their victims.
However, crooks are broadening their horizons as Scots reported being contacted by fraudsters on social media (5%), company websites (4%) and through text messages (4%).
Paul Davis, fraud and financial crime director at Bank of Scotland, said: “Scots are confident in their ability to spot a fraudster, yet it is clear from our research that many people still get caught out when it comes to scams.
“Fraudsters have adapted to changing technology and are using ever more sophisticated tactics, making them more difficult to spot. We’re encouraging people to talk to friends and family about fraud, so that more people are aware of how to identify the tell-tale the signs of a scam.
“If you suspect you’ve been targeted, it’s important to contact your bank immediately.”
He said there were ways to spot potential scams, particularly when they involved emails or texts to try to gain access to internet banking details. People should check for spelling mistakes and even minor errors in addresses of emails they receive, such as “Bank Scotland” instead of “Bank of Scotland”.
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