Lloyds Bank has issued an urgent warning to millions of customers across the UK concerning a sharp increase in sophisticated 'advance fee' frauds, predominantly targeting job seekers.
How the Job Scams Operate
Fraudsters are using social media platforms to advertise fake remote work or content creator roles. These deceptive offers often promise high earnings for simple online tasks, such as reviewing hotels or liking social media videos like those on TikTok.
To appear legitimate, scammers sometimes conduct fake interviews, provide counterfeit contracts, and even impersonate well-known recruitment agencies. In more elaborate schemes, victims are added to WhatsApp group chats posing as workspaces and shown falsified screenshots of bank balances to build trust.
Initially, some individuals may even receive small payments into their accounts. However, Lloyds Bank emphasises that this money is typically from other scam victims, creating a cycle of fraud where people unknowingly handle illicit funds.
The Financial and Legal Impact on Victims
The financial damage is significant. According to Lloyds Bank's fraud experts, the average victim loses £1,420, with some cases exceeding £5,000 in losses.
The primary targets are young adults, with over half (53%) of all cases involving people aged between 18 and 34.
The scam unfolds when applicants are asked to pay an upfront fee for supposed training, DBS checks, or application processing. Once the payment is made, the fraudsters cut off all communication.
In certain scenarios, victims are manipulated into using cryptocurrency wallets or acting as intermediaries for money transfers, which can lead to them unknowingly becoming 'money mules' – a serious criminal offence.
Expert Advice: How to Stay Protected
Christina Ford, a Fraud Investigator at Lloyds, stated: "We've spoken to customers approached with unsolicited job offers or adverts promising quick cash. These often originate on social media, sometimes disguised as a personal success story."
She highlighted that conversations are frequently moved to other messaging apps, where the illusion of a real work environment is maintained. Social media is described as a 'hunting ground' for these criminals.
The bank urges the public to be extremely wary of any job offer that promises easy money for minimal effort or requires an upfront payment. If you encounter a suspicious offer, you should report it immediately to Action Fraud.
