Record-breaking fraud prevented in run up to Christmas

23rd December 2019

Royal Bank of Scotland prevents over £11.64million of fraud in run up to Christmas (29 Nov to 19 Dec 2019).

A record-breaking number of transactions are being processed in the run up to Christmas as shoppers rush to finish last minute shopping. Since Black Friday, Royal Bank of Scotland customers have spent £11,816million. This is coupled with a record number of fraud attempts, with Royal Bank of Scotland flagging and preventing 39,181 fraudulent transactions, preventing debit and credit customers from losing over £11.64million.

Over the Christmas shopping period from 29 November to 19 December, just under 310million credit and debit card transactions have been processed. This is an increase on last year which saw 251million transactions over the same period.

Jason Costain, Head of Fraud, Royal Bank of Scotland said: "We've just seen one of busiest shopping weekends of the year and we have been working around the clock to keep our customers safe and secure.

At this time of year customers should also be extra vigilant of scams and if a deal looks too good to be true it probably is."

To help prevent fraud and scams, Royal Bank of Scotland recommend following some of the tips below.

If a deal looks too good to be true, it probably is.

Be aware of counterfeits on social media. If the price is far lower than usual and from a retailer you hadn't previously heard of, it's likely to be a scam.

Using your credit or debit card to pay offers you significant protection from fraud and poor-quality goods. If you are asked to send money direct to the bank account of the seller, be careful - this could be a fraudster.

A padlock on a website URL means it’s encrypted for payment but still be cautious, goods might not be genuine even though your details are safe.

Be on alert for bad spelling and grammar mistakes or phrases that don’t sound quite right.

Banks never ask for personal or private information over text or email. Delete suspicious messages and report to the bank on a number you can trust.

More information on how to avoid becoming a victim of a scam can be found at www.rbs.co.uk by searching security centre.