The banking giant is running a billboard campaign to make people aware of potential dangers when shopping online.
It adds: "Scams are changing every week", before advising people to learn how to protect themselves. Analysis showed the number of consumers falling for online shopping scams had increased by 2% in December 2022.
Customers are being urged to look for warning signs:
- If the seller has recently joined the online platform
- If there aren’t any reviews or the reviews are bad
- If you are being rushed into a bank transfer payment
Last month, Liz Ziegler, Fraud Prevention Director, Lloyds Bank, said: "Online 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 fraudsters to use fake profiles and advertise goods that simply don’t exist.
“The safest way to pay for things online is always by debit or credit card, and buy from a trusted retailer. Remember that if a deal looks too good to be true, it usually is.”
Top tips to stay safe online
Lloyds bank has issued some top tips to help people stay safe when buying items online:
Use your credit or debit card
This adds a layer of protection to your money should anything happen.
Check for the item elsewhere
Lower prices can hide scams so see if you can find it elsewhere, scammers can also use low availability to trick buyers.
Be wary of social media posts and direct messages
Search for deals yourself as targeted ones may be a scam.
Make sure the website or seller is legitimate
Look for good reviews for sellers and be wary of mixed or bad reviews
Ask questions before buying
If the seller struggles to give specifics or tries to hurry you, it may be a scam.
Never click on links from messages
Always visit the site even if the message purports to be from a genuine company.
The bank also has a page dedicated to scams and how to avoid them. These include different types of scams, such as investment scams and dating scams, and what to do if you think you are a victim of a scam.