Online Shopping Scams on the Rise in the UK, Costing Consumers Over £500,000 a Week

Online shopping scams in the UK are increasing, with more than two-thirds originating on Facebook and Instagram, according to Lloyds Banking Group.

These scams cost UK consumers over £500,000 a week, and tech companies need to contribute to refunds when their platforms are used to defraud innocent victims.

Facebook and Instagram are being blamed for the rise in online shopping scams, with clothes, trainers, gaming consoles, and mobile phones being falsely advertised.

Lloyds is calling for social media companies to stop scams at source and contribute to refunds.