TSB warns of spike in purchase fraud ahead of festive shopping season, as bank ups calls to social media firms
With Black Friday and Christmas shopping season looming, TSB is urging consumers to remain vigilant to purchase fraud, as cases spike by 11%.
New TSB data reveals that purchase scams now account for 63% of all bank transfer fraud cases reported by its customers – up from 52% in 2024.
The bank also recorded an 11% year-on-year increase in the volumes of purchase fraud cases between January and September 2025, with victims losing an average of £452 per scam.
Purchase fraud is a key driver of fraud cases across the banking sector, as UK Finance fraud data recently revealed that purchase scams account for 72% of all fraud cases, and at a cost of £53m in the first half of this year.
TSB is renewing its call for social media companies to take urgent action – specifically, with the introduction of secure payment platforms to allow consumers to pay safely. Unlike traditional bank transfers, which rely heavily on trust and can leave victims vulnerable to scammers who vanish after receiving payment.
Social media fuels purchase fraud
Social media platforms continue to be the origin of the vast majority of purchase fraud with scammers advertising fake listings of popular or hard-to-find items.
Facebook accounts for three-fifths (60%) of all TSB purchase fraud cases, followed by Instagram (12%), WhatsApp (11%), Snapchat and Tik Tok (5%), X (4%), Gumtree (2%) and Telegram (1%).
2025’s most scammed items
TSB’s fraud team has identified the top 10 targeted items in TSB reported purchase scams this year – highlighting a spike in pet fraud:
- Concert tickets
- Football tickets
- Clothing – especially trainers
- Children’s toys
- Games consoles
- Electrical goods – phones and laptops
- Home repairs
- Pet deposits (particularly for cats and dogs)
- Vehicle deposits
- Car parts
TSB remains adamant that social media firms should be made financially liable for the fraud they enable – paying towards a payment mechanism that TSB believes would incentivise them to remove scam content from their platforms.
Richard Daniels, director of fraud prevention at TSB, said: “As we enter the busy shopping period, scammers will also be ramping up their activity with fake listings for goods and services that simply don’t exist.
“With so much fraud coming from social media platforms, we would advise consumers to only pay for an item if you can view and verify in person – stay safe online during the sales and into Christmas.”