With almost half of Brits admitting to being targets of scams, NatWest has warned of a new AI-technology allowing fraudsters to mimic the voice of your friends and family members. Here’s what to look out for
Brits have been urged to stay vigilant following a dramatic surge in money scams at the end of 2024. New research from NatWest found that a whopping 42 per cent of British adults were targeted by fraudsters from November 2023-2024, while 86 per cent believe that more should be done to stop scams at their source.
Using industry data and a national survey of 2,000 respondents, the banking group says £570 million was reported stolen by scammers in the first half of last year, with young adults aged 18-24 the most likely target. Scammers posing as friends and family requesting money, often through email or social media, became one of the fastest growing schemes – along with event ticket scams, fake grants to help with the costing-of-living crisis, and social media marketplace adverts for products that didn’t exist.
AI voice-cloning scams were the third fastest growing scam of 2024, and 86 per cent of Brits said they were concerned that ‘rapid developments’ in artificial intelligence will help criminals find new ways to con people. In fact, more than half (59 per cent) of adults also saying they think identifying AI-based scams is becoming increasingly difficult, while two thirds admit they are concerned that a vulnerable family member will fall victim to fraud.
“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,” said Stuart Skinner, NatWest’s Fraud Expert. “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.”
The pro recommends hanging up on the caller and ringing them back on a number you know is truly theirs. “And remember, don’t trust the number popping up on your caller ID—scammers can fake that too!” he added.
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Fake parcel delivery texts – which would often send users to a phishing site designed to steal personal data – had the biggest spike last year, with scammers clearly taking advantage of those ordering their Christmas presents online. “Think about it: would a real delivery company ask you to follow a link and make a payment?” explains Stuart. “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.
Despite the tactics used by fraudsters, public confidence in avoiding scams has increased by over 29 per cent compared to 2023. If you think you’re being targeted by a scam, make sure you’re aware of your bank’s security protocol. NatWest has a report option, as well as help and advice here.
Have you fallen victim to an AI scam? Email liam.gilliver@reachplc.com for a chance to share your story
