Lloyds Bank issues stark warning over Nike trainer scam

Lloyds Bank has issued a stern warning after people were tricked into parting with their money.

The alert comes amid a rise in shopping scams, where fraudsters trick customers into sending money for goods or services that don’t exist. Lloyds said these scams involving shoes and sneakers have increased 152% this year.

Victims lose an average of £152 – and Lloyds said Nike is one of the most common labels currently used to promote this scam.

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The UK’s biggest bank also said another item that has seen an “explosion” in reported purchase scams this year is tickets, as fraudsters exploit people’s renewed desire to attend. live events after easing of covid restrictions.

While the total number of reported ticket scams is lower than some other elements, the number of reported cases has already exploded by 603% this year. The average amount lost is £251, with football matches and concerts being the events most likely to appear in fake adverts.

Many consumers are unaware that bank transfers were not designed as a way to pay for goods and services online, and therefore offer little protection should something go wrong. Buyers who pay by credit or debit card benefit from the well-established Section 75 and chargeback rules that have protected customers for decades.

Liz Ziegler, director of retail fraud and financial crime at Lloyds Bank, said: “Fraudsters are always looking for new ways to cheat victims with their hard-earned money, and with designer trainers among the latest must-have items targeted, criminals are ready to get away as soon as they get their hands on your money.

“Shopping scams come in all shapes and sizes, but the vast majority start with items advertised on social media, where it’s too easy for scammers to use fake profiles and advertise items. which do not exist.

“When shopping online, the best way to stay safe is to buy from a trusted retailer whenever possible and always pay by card for the best protection. If you are unable to doing these things should be a big red flag that you are about to get scammed.

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