High street bank Santander has issued a stark warning to its customers, highlighting the risk of losing over £1,500 to holiday scams. The bank is urging holidaymakers to stay vigilant when booking travel and accommodation this summer.
Surge in Holiday Scams
Santander has reported a significant increase in holiday scams, with customers losing nearly £34,000 last July alone. This July, losses are expected to surpass that figure. The bank received reports from 85 customers about holiday scams, tripling the number from the same period last year.
Types of Scams on the Rise
The number of airline scams has tripled year-on-year, with losses exceeding £100,000 in 2023, compared to £38,600 in 2022. Rental scams have also more than quadrupled in the first half of 2024. Young adults, aged 19-34, have been the hardest hit, losing an average of £1,540.
Key Advice from Santander
Chris Ainsley, Head of Fraud Risk Management at Santander, advises holidaymakers to remain cautious. He emphasizes the importance of ensuring the legitimacy of the websites and individuals they are dealing with. He also warns against being distracted by enticing images of holiday destinations on social media.
Santander's key advice includes:
- Take time to verify the authenticity of holiday deals.
- Speak to trusted friends or family before making payments.
- Be extra cautious with adverts for cheap deals.
- Enable personal device security features like ‘Find My Phone’ or ‘Stolen Device Protection’ before traveling.
Protecting Your Finances
Santander underscores the necessity of being vigilant to avoid falling victim to scams, especially during the summer holiday season. The bank highlights the importance of taking additional precautions to safeguard personal and financial information.
For more information and detailed advice on avoiding holiday scams, visit Santander's official website.