Impersonation scam losses rise 10% to £3,516

Average losses for victims of impersonation scams have risen by 10% over the past year, reaching £3,516, according to data from Lloyds Banking Group. This marks an increase from the previous year's average loss of £3,200. Despite this rise in average loss, the overall number of impersonation scam cases reported to the bank fell by 3% during the same period.

High-value scams continue

While the average loss has increased, some individual scams have resulted in significantly higher financial devastation. One notable case involved an 85-year-old woman who lost £188,000 over five months through a police impersonation scam. She was persuaded to make multiple gold purchases, with the gold later collected by an individual she believed to be an undercover officer.

Reports of specific types of impersonation scams, including those where fraudsters pose as representatives from banks, the police, HM Revenue and Customs (HMRC), or telecommunications providers, have seen an increase. Scammers frequently employ tactics that create a sense of urgency, using fabricated stories about account problems or immediate payment needs to pressure individuals into acting without careful consideration.

Common scam tactics

Impersonation scams typically begin with unsolicited contact via phone calls, text messages, emails, or social media. In cases involving fake police or bank officials, victims may be told their funds are at risk and instructed to transfer money to a supposed 'safe account'. Scammers might even suggest that the victim's own bank is involved in fraudulent activity and advise them to deceive bank staff if questioned about large money movements.

HMRC impersonation scams often involve misleading messages about tax refunds, aiming to trick recipients into clicking links and divulging personal or financial information. The average loss for victims of HMRC impersonation scams was £2,288. Scams targeting customers of broadband and mobile providers typically claim issues with bills or service, leading to requests for payment or personal data, with an average loss of £1,169 in these instances.

Liz Ziegler, fraud prevention director at Lloyds, noted that seasonal periods like summer can increase vulnerability. 'Fraudsters know money is often at the top of people’s minds and use convincing stories about account issues, refunds or urgent payments to pressure people into acting quickly,' she stated. She also advised that scam messages are designed to create a sense of immediate necessity and secrecy.

Advice for consumers

Ziegler recommended that individuals who receive suspicious calls claiming to be from their bank, the police, or any other organisation should terminate the call. They should then contact the organisation directly using a verified and trusted contact number to confirm the legitimacy of the interaction.

Lloyds' figures are derived from an analysis of scam reports made by its customers between July 1, 2025, and June 30, 2026, compared with the period from July 1, 2024, to June 30, 2025.