With scammers stealing £570 million in the first six months of this year, new research reveals the 10 fastest-growing cons of 2024.
False parcel delivery texts were the fastest-rising scam of the past 12 months, new data from NatWest has revealed.
Next up were social media marketplace cons and AI voice cloning scams.
Perhaps unsurprisingly, the survey of 2,000 Brits found that 86% were concerned the rise of AI will lead to an increase in fraud.
£570m stolen in 2024 so far
Alarmingly, the data also shows the total number of scams has reached epic levels this year.
According to the research, 42% of Brits have been targeted by a con in the past 12 months, with those aged 18 to 24 most affected.
Overall, scammers took a whopping £570 million from innocent victims in the first half of 2024.
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The fastest-rising scams
But, how exactly are criminals getting their hands on our cash?
1. Fake parcel delivery texts
As many of us have been on the receiving end of these messages, it probably won’t come as a shock to learn this crime has seen the biggest increase of the year.
The con involves criminals sending false delivery notification messages for parcels, asking the intended victim to click on a link and pay a fee for rearranging the time.
In most cases, the link is actually a phishing scam designed to steal personal data.
Some 40% of Brits have been affected in the past 12 months, NatWest found.
Commenting on the findings, Stuart Skinner, a fraud expert with the bank, advised people to be wary of any messages asking for urgent payment or directing them to download an app.
2. Social media marketplaces
This con involves fraudsters posting fake products on social media marketplaces such as TikTok, Facebook and Instagram.
Typically, perpetrators create false profiles for popular goods, often stealing photos from genuine listings.
However, the promised items never arrive.
According to the data, 30% of Brits have been targeted by this type of crime in the past year.
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3. AI voice cloning
As we reported earlier this year, scams involving AI have surged in 2024, given the huge uptake in this technology.
With voice cloning, criminals use artificial intelligence to imitate a person, having copied their voice from an online audio clip (usually obtained from social media).
This new technology can allow scammers to steal a person’s identity in a matter of minutes.
Should you receive this type of request, NatWest recommended hanging up and calling the person back to check the request is genuine.
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4. False money requests
Under this ruse, fraudsters will masquerade as a friend or family member in order to urgently request money from you, claiming there is an emergency.
Usually, these messages will come over phone, email or social media.
According to the research, 29% of people have been hit in the past year.
5. False tickets
Selling counterfeit tickets for popular gigs, sporting matches and concerts is the fifth fastest-growing con of the year.
Again, this comes as little surprise given the huge number of vastly popular concerts this year.
Normally, victims will purchase the ticket over social media and it fails to arrive.
The rise in AI is key to this crime as it allows criminals to create convincing replicas of tickets, using false images and text that is free from grammatical errors.
Some 28% of people have been subject to this scam, the data from NatWest has uncovered.
6. Cost-of-living assistance scams
With the cost-of-living crisis worsening, assistance schemes for vulnerable people are fodder for con merchants.
Under this crime, fraudsters send messages offering fake help for those who are struggling.
However, they will use any personal information details they obtain for the purposes of identity theft.
Some 25% of people were victims during this period, according to NatWest.
7. Tax rebates
As many of us would love to get something back from the taxman, con artists are making phone calls and sending text messages related to non-existent rebates from HMRC.
Again, the goal is to use your information for identity theft purposes.
The crime has hit 24% of people, according to the findings.
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8. Refund scams
Similar to the tax rebate scam, this con offers you a false refund with the goal of stealing your personal information.
Criminals could contact you by phone, email or text, asking you to divulge your data.
Often, they will pose as a legitimate company.
According to NatWest's data, 23% of people were targets during the first six months of the year.
9. Celebrity deepfake endorsement
With this type of crime, fraudsters create fake images and videos of respected celebrities in order to promote fake investment opportunities.
Criminals have targeted 22% of people in the past year, the research found.
Worryingly, the data found that 59% of people say that identifying AI-based scams is becoming more difficult.
10. “Get-rich-quick” investments
These schemes typically promise high returns with little effort.
Many criminals will use fictionalised “success stories” to convince victims to part with their cash.
According to the findings, 22% of people have been hit by this type of fraud in 2024.
The most-affected regions
Interestingly, there seems to be a geographical difference in the prevalence of these scams.
Across the UK, Wales experienced the biggest increase in false parcel delivery messages, with 40% of people being affected.
Likewise, Northern Ireland had the biggest surge in money request scams.