Fraudsters are increasingly targeting individuals through impersonation scams, resulting in an average loss of £3,516 per victim over the past year. This figure represents a 10 percent increase compared to the previous year, when the average loss stood at £3,200. While the overall volume of impersonation scam cases reported to Lloyds Bank decreased by 3 percent, the financial impact on victims has grown.
Some victims have suffered catastrophic financial losses. In one notable case, an 85-year-old woman was defrauded of £188,000 by a police impersonation racket. Over a five-month period, she was manipulated into making eight gold purchases, with the gold subsequently collected by an individual posing as an undercover police officer involved in an investigation.
Lloyds Bank reported that various types of fraud are on the rise, including scams where criminals pose as representatives from banks, HM Revenue & Customs (HMRC), broadband providers, and mobile phone companies. These deceptive schemes typically commence with unsolicited contact via phone calls, text messages, emails, or social media.
In impersonation scams involving police or banks, victims are often convinced that their funds are at risk and are instructed to transfer their money to a designated 'safe account.' Perpetrators may even advise victims to deceive their own bank if genuine staff inquire about the reason for the money transfer, claiming the bank itself is under investigation for fraud.
Scams impersonating HMRC commonly involve fraudulent messages about tax refunds, aiming to trick recipients into clicking malicious links and divulging financial information. Victims of these specific scams lost an average of £2,288 in the past year. Impersonation attempts by broadband and mobile providers, often citing issues with bills, contracts, or internet service, resulted in average losses of £1,169, as victims were prompted to share personal details or make payments.
Liz Ziegler, a fraud prevention director at Lloyds, noted that the summer months can be a particularly vulnerable period for consumers. "Summer can be an expensive time of year, with many people focused on managing their finances around holidays, family days out and other seasonal costs," Ziegler stated. "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."
She emphasized that scam messages are designed to create a sense of urgency and secrecy. "A scam message is designed to rush you. It will make you feel you need to act straight away or keep things secret," she added. Lloyds Bank advises anyone uncertain about a call claiming to be from a legitimate organization to terminate the call and contact the organization directly using independently verified contact information.
The data analyzed by Lloyds Bank covers scam reports from its customers between July 1, 2025, and June 30, 2026, with comparisons made to the period of July 1, 2024, to June 30, 2025. The figures indicate a concerning trend of increasing financial losses due to impersonation fraud.