According to recent research, fake parcel delivery texts are the fastest growing scam of the year.
A survey of 2,000 adults revealed that 42% have been targeted by a suspected scam in the past 12 months, with 'false' social media marketplace listings and AI voice cloning scams among the most prevalent.
Fraudulent money requests from scammers posing as friends or family, event ticket scams, and bogus financial aid services are also on the rise.
Stuart Skinner, a fraud expert from NatWest, which commissioned the research, warned: "Fake parcel delivery texts are the fastest-growing scam this year."
"Think about it: would a real delivery company ask you to follow a link and make a payment? Be wary of urgent messages or those asking for payments or to download an app - this will often contain spyware. Or it might be the first step for the criminals to contact you later to continue the con in a different way."
The study found that advancements in AI are contributing to new forms of scams. With AI-driven technologies such as deepfake software, automated phishing systems, chat-bots and advanced data analytics is making identifying these scams increasingly difficult.
As a result, 86% of adults are concerned that scammers are able to create highly personalised and convincing fraudulent schemes more quickly and easily.
Despite a third of people feeling more confident in identifying scams compared to 2023, two-thirds still worry that a vulnerable family member could become a fraud victim.
Young adults, those aged between 18-24, were the most targeted demographic this year, with 55% being approached by scammers and nearly 60% experiencing or knowing someone who suffered a financial loss due to fraud.
In stark contrast, only 15% of those over 65 are aware of either themselves or someone they know losing money to a scam.
Stuart Skinner from NatWest, which operates a Security Centre to combat fraud, warned: "Are you looking at deals on social media? Do you really know who you're giving your payment details to when you click through an advertisement on a social media platform? ".
"Double-check with your friends or family for a second opinion. AI voice cloning scams are a relatively new form of fraud where scammers use advanced tech to imitate someone's voice, which can be pretty convincing."
"If you get a call that sounds like it's from a friend or family member asking for money or personal info, take a pause. Hang up and give them a call back on a number you know is legitimate. And remember, don't trust the number popping up on your caller ID - scammers can fake that too."
THE 10 FASTEST-GROWING SCAMS OF 2024:
- Fake Parcel Delivery Texts (40%): Fake parcel delivery texts involve fraudsters sending fake delivery notifications for parcels, prompting the recipient to click on a link to reschedule delivery or pay a fee.
Social Media Marketplace Scams (30%): Fraudsters use platforms like Facebook Marketplace, Instagram, or TikTok to advertise and sell products that do not exist.
Artificial Intelligence (AI) Voice Cloning Scams (30%): Using AI voice cloning technology to deceive victims by creating realistic audio impersonations of trusted individuals or authorities.
Money Request from Friend or Family Scams (29%): Scammers posing as someone you know to urgently request money, often through phone, email, or social media, to exploit your trust.
Event Ticket Scams (28%): Fraudsters selling counterfeit or non-existent tickets to popular events, such as gigs, concerts or sports games.
Cost-of-Living Assistance Scams (25%): Scammers exploit individuals' financial vulnerabilities by offering fake assistance programs, grants, or loans to help with living expenses, only to steal the money or use the information for identity theft.
Tax Rebates Scams (24%): Fraudulent emails, phone calls or text messages offering fake tax rebates, either claiming people are due a refund or asking them to request one – which are aimed at stealing personal information or money.
Refund Scams (23%): Scammers claim you're owed a refund to steal personal or financial information. They may contact you by phone, email, or text, posing as a legitimate entity to trick you into revealing sensitive details or sending money.
Deep-fake Celebrity Endorsement Scams (22%): Creating deepfake videos using AI of celebrities or trusted brands such as news outlets to promote fraudulent schemes, such as investment opportunities.
Get Rich Quick Investment Scams (22%): "Get Rich Quick" investment scams are fraudulent schemes that promise high returns with little risk or effort in a short period. Scammers often use persuasive tactics and fabricated success stories to lure individuals into investing their money.