Data has shown a surge in purchase scams on both Facebook and Instagram
Lloyds bank said there has been a rising popularity of online shopping which has brought a surge in fraudsters selling products that don't exist. It comes after data from Facebook and Instagram showed purchase scams are expected to cost people in the UK more than £27m this year.
The most common falsely advertised goods include lothes, trainers, gaming consoles and mobile phones. Liz Ziegler, Lloyds' fraud prevention director, told the Liverpool Echo: Social media has become the Wild West of online shopping in recent years, with very few checks in place to verify who is selling what.
"It’s high time tech companies stepped up to share responsibility for protecting their own customers. This means stopping scams at source and contributing to refunds when their platforms are used to defraud innocent victims.”
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