A third of Brits have fallen foul to purchase fraud, warns TSB - as losses spike

• TSB data: Purchase scams account for over two fifths (45%) of bank transfer fraud losses at TSB, with customers losing a total of £2.3 million in 2026 to date. 
• Facebook accounts for two thirds (65%) of scams, followed by TikTok (14%) and Snapchat (7%). 
• Polling: One in three Brits (33%) surveyed have fallen victim to purchase fraud on social media or second-hand platforms, rising to almost half (49%) of 25–34-year-olds. 
• Brits say they expect to spend around £245 on average from Black Friday through to Christmas 
• Over two fifths (42%) of respondents plan to rely more on discounts due to the cost of living 

TSB is warning consumers to be on their guard against widespread purchase fraud ahead of Black Friday and Christmas, as new research reveals one in three Brits (33%)¹ has fallen victim to a purchase scam on social media or second-hand platforms.

TSB's own internal data² found that purchase fraud is a growing problem – accounting for over two fifths (45%) of all TSB bank transfer losses, and up by four percent (4%) year-on-year.  

Polling commissioned by TSB, reveals that younger shoppers are most likely to have experienced purchase fraud, with almost half (49%) of 25–34-year-olds and over two fifths (44%) of 18–24-year-olds having been caught out.  

Overall, over half (53%)³ of Brits surveyed have either fallen victim to purchase fraud themselves or know someone who has, highlighting the scale of the issue. 

With Black Friday and Christmas approaching, polling shows that consumers expect to spend an average of £245⁴ on gifts and purchases over this period. 

TSB is urging consumers to be vigilant – with customer data showing that purchase fraud losses total £2.3million⁵ at TSB this year alone and with an average loss of £540 per customer. 

TSB's customer data also reveals that Facebook accounts for two thirds of cases (65%)^6, followed by TikTok (14%), Snapchat (7%) and Instagram (6%).  

Most scammed items

Banks see all types of items and services scammed via purchase fraud. The biggest financial loss for purchase fraud is vehicles; followed by holidays & flights, tickets , car parts, pets and accessories.   

TSB also sees items such as clothing and phones commonly scammed - and even vapes made the most-scammed list.⁷

Bargain hunting could leave shoppers exposed

Polling found that due to the cost of living, over two fifths (42%) of Brits plan to rely more on discounts. Meanwhile, over a third (37%) plan to shop through second-hand marketplaces and a third (34%) through social media platforms, where fraudulent sellers and listings can be harder to identify. 

However, TSB found that four in ten Brits (41%) are not confident they can distinguish AI-generated images from genuine photographs when shopping online. 

Richard Daniels, Director of Fraud Prevention, TSB, said:  

"Alarmingly, purchase fraud is a growing problem – so we're urging consumers to be especially careful where and who they shop with as we enter the busy sales, and Christmas shopping period.  

"The sheer scale of shopping scams shows that you just can't fully trust a seller online – so be cautious and consider sticking to official sites, or marketplaces that offer a payment platform. Shop safely this autumn and winter." 

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Notes to editors

The research was conducted by Censuswide among a nationally representative sample of 2,000 UK adults aged 18+. The data was collected between 23.10.2026 and 26.10.2026. Censuswide is a member of the Market Research Society (MRS) and the British Polling Council (BPC), and a signatory of the Global Data Quality Pledge. Censuswide adheres to the MRS Code of Conduct and ESOMAR principles. 

¹33% of respondents via Censuswide said they had been scammed on social media sites, or second-hand platforms when trying to purchase  goods, services or an item. 

² Relates to TSB customer data between 1^st Jan- 30^th September in 2026 with comparisons against previous years over the same period. Data covers financial loss. 

³  Combines 'Yes, I have been scammed and someone I know has,' 'Yes, I have but no one I know has,' 'No, I have not, but someone I know has' = 53%. 

⁴ Censuswide polling showed they would spend £245 on average over the busy shopping period from Black Friday through to Christmas and the end of the year. 

⁵ TSB customer data of losses to purchase fraud 1^st Jan – 30^th Sep 2026. 

⁶ Relates to customer data where the platform has been recorded as part of the reported scam. 

⁷ Most scammed items ranked by overall financial loss – and sharing average loss