Rising losses despite fewer reported cases

Impersonation scam victims lost £3,516 on average over the past year, marking a 10% increase compared with a typical loss of £3,200 a year earlier, according to data from Lloyds. The figures, based on analysis of scams reported by Lloyds Banking Group customers between July 1, 2025 and June 30, 2026, compared with the previous 12 months, were reported by LBC, the Evening Standard and The Sun.

While the average loss has grown, the overall volume of impersonation scam cases reported to Lloyds fell by 3% compared with a year earlier. Reports of some types of impersonation scam, however, have increased, including fraudsters pretending to be from banks, the police, HM Revenue and Customs (HMRC), and broadband and mobile providers. The Sun noted that HMRC scams saw the biggest increase, up 63% in the last 12 months.

A high-value example

Some impersonation scams can be much more high value. Lloyds reported one case in which an 85-year-old woman lost £188,000 to a police impersonation scam. The victim was persuaded to make eight purchases of gold across a five-month period, with a total loss of £188,000. The gold was then collected by someone she believed to be an undercover police officer involved in an investigation.

This example illustrates the significant sums that can be lost, even as overall case numbers decline.

How the scams work

Impersonation scams often start with a phone call, text, email or social media message, according to Lloyds. In police and bank scams, victims may be told their money is at risk and asked to move it to a 'safe account'. In some cases, criminals tell victims their own bank is involved in fraud, then coach them to lie if a genuine member of bank staff asks why they are moving money.

HMRC scams can involve messages about tax refunds to persuade people to click on a link and enter personal or financial details. Victims of HMRC impersonation scams lost £2,288 on average over the past year, Lloyds said. Broadband and mobile provider scams involve claims of issues with a bill, contract or internet connection, before asking for personal details or payment. The average amount lost to broadband and mobile provider impersonation scams is £1,169.

Advice from Lloyds

Liz Ziegler, a fraud prevention director at Lloyds, said: '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. Fraudsters know money is often at the top of people's minds at this time of year, and will use convincing stories about account issues, refunds or urgent payments to pressure people into handing over their cash or personal information.'

Ziegler warned that a scam message is designed to rush you and make you feel you need to act straight away or keep things secret. She advised that if you are unsure about a phone call claiming to be from your bank, the police or another organisation, end the call and contact the organisation directly using a trusted number.

Lloyds also advises people not to move money to a 'safe account' because banks and the police will never ask you to transfer money to protect it from fraud. The bank urges people never to give items to couriers or post them, as banks and the police will also never ask you to hand over cards and PINs, or buy expensive items such as gold or jewellery. Furthermore, a genuine organisation will never ask for your full password, PIN or one-time security code. HMRC will never notify you of a refund by text or ask for personal details through links in messages, according to The Sun.

If you suspect a call, text or email could be from a scammer, it's important to report it, even if you haven't lost any money.