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What is a scam? - PowerPoint PPT Presentation


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What is a scam?. scams are schemes designed to con you out of cash they come in many forms there are many different approaches 'there's a scam for everyone'. What are the main scams?. fake foreign lottery deceptive prize draw or sweepstake get-rich-quick schemes investment scams

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Presentation Transcript
what is a scam
What is a scam?
  • scams are schemes designed to con you out of cash
  • they come in many forms
  • there are many different approaches
  • 'there's a scam for everyone'
what are the main scams
What are the main scams?
  • fake foreign lottery
  • deceptive prize draw or sweepstake
  • get-rich-quick schemes
  • investment scams
  • miracle cures
  • clairvoyant scams
how much is lost to scams
How much is lost to scams?

According to Office of Fair Trading research

  • UK consumers lose an estimated £3.5 billion to scams every year
  • average amount lost per victim is £850
  • equivalent to around £70 per year for each adult living in the UK

According to Office of Fair Trading research

  • UK consumers lose an estimated £3.5 billion to scams every year
  • average amount lost per victim is £850
  • equivalent to around £70 per year for each adult living in the UK
where do the loses occur
Where do the loses occur?

According to Office of Fair Trading research

  • £1.2 billion to bogus holiday clubs
  • £490 million to high risk investment scams
  • £420 million to pyramid and get-rich-quick schemes
  • £260 million to fake foreign lotteries
how large is the problem
How large is the problem?

According to Office of Fair Trading research

  • almost half the UK adult population has been targeted by a scam
  • 3.2 million adults - 1 in every 15 people - fall victim to scams each year
  • highest percentage of victims is aged between 35-44
what are the long term effects
What are the long term effects?

According to Office of Fair Trading research

  • people can end up losing their life savings to scammers
  • around a third of victims fall prey to another scam within 12 months
  • victims' details are added to so-called 'suckers lists' which are sold to other fraudsters
  • victims may also suffer from stress, relationship and health problems brought on by losing money
how to avoid being scammed
How to avoid being scammed
  • don't be pressured into doing anything immediately
  • if you receive an offer that sounds too good to be true from someone you don’t know, think very carefully
  • if you're unsure speak to family or friends
  • if you do lose money to a scam always report it to the authorities. They may not be able to get your money back but they can help stop others falling victim