Santander has issued a Christmas scam warning after millions of pounds were lost by customers last year.

The major bank said that just under two million pounds was reported lost between Christmas and New Year's Day.

This total includes an individual loss of more than £600,000 as part of an investment scam, the biggest amount lost by a customer in 2023.

Scammers may target people over the festive period with bargain sales on various items, including clothes and concert tickets.

Impersonation scams are also popular with reports being made last year of fraudsters pretending to be bank employees.

According to Santander data covering December 25, 2023, to January 1, 2024, 596 scams were reported by the bank’s retail and business customers.

How to avoid getting scammed this Christmas after millions stolen last year

Here are some tips to help you avoid being scammed this Christmas from Santander.

1. Always take time to think before making a payment and pay extra attention to the warnings your bank shows you while making it. They are in place to help you bank safely and avoid being scammed.

2. Be wary of buying goods from social media – especially if it is something that is sold out everywhere or being sold at a price that seems too good to be true.

3. Anyone can be easily impersonated and criminals can make the caller's identity, email address or name appear like the genuine caller. So, if you get an email, text or call, check it is genuine by phoning them back on a known and trusted number.

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4. Always take time to complete extra checks when you make a payment. This is to make sure the person and the payment are genuine. This can be reading reviews, researching companies or websites, and checking if the person or company is who they say they are.

5. Think you are buying from your friend? Call them first. Fraudsters hack people’s social media to sell fakes to their friends. Always speak in person using a number you trust, not one they have sent you.

People worried about a potential scam have been told they can call 159 – a simple-to-remember number that many banks have signed up to.