Lloyds Bank issues warning after man ‘lost all his money’

Fraud victim finds it hard to trust anyone after falling for scam

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Shopping online will be popular in the festive season, and is often used as a way to save money. However, the bank warns some deals and websites can be used to hide scams, and thus it is vital to remain vigilant. 

A man named David shared his story with Lloyds Bank, after he was scammed online.

He said: “I fell for a scam when I tried to buy a car online. I thought I knew what to look out for, but I missed the signs.

“I saw an ad for a car – it looked great and the price was amazing! 

“The seller had a few one-star reviews, and I should’ve paid attention to those, but it was my dream car so I go in touch.

“They said a deal like this would go quickly, so I should get it straight away and pay upfront. Red flags looking back. I should’ve taken my time, but I was hooked. 

“I wanted to be safe and pay by card, but it was bank transfers only, so I sent the money from my account.

“I never got the car and I lost all my money. That was tough to take. I wanted a fast car, but instead I got taken for a ride.”

However, scams like this can happen to anyone, not just those buying cars as fraudsters will use any excuse to make money, advertising phones, puppies and tickets, amongst other items.

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This kind of scam could be particularly dangerous as Christmas approaches.

Those looking for toys, mini-breaks or other festive presents could easily be reeled in by a purchase scam.

This is particularly the case if they believe they are getting a quick, last-minute deal, or an offer not available anywhere else.

Lloyds Bank has explained the “safest way” to buy online is via a bank or credit card, and people should always do this.

This is because a card will help people to protect their money should anything go wrong.

Fraudsters often want people to pay buy bank transfer because the money is hard to trace, so this should be avoided as much as possible.

The bank’s website added: “We all want to find amazing deals online, but even a bargain costs money. 

“When prices on a site are a lot lower than other sellers, it could be a scam.

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“Ask questions before you buy. If a seller can’t give any details about an item or tries to hurry you into paying, it’s a sign of a scam

“And take time to check reviews to make sure a site or deal is genuine before you choose to buy. 

“Lots of good reviews from different buyers are better than mixed, bad or no reviews at all.”

Those who think they have been targeted by a scam are urged to report the matter as soon as possible to their bank.

People can also contact Action Fraud in England and Wales, or Police Scotland in Scotland.

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