How To Avoid Losing Money To Increasingly Clever Scams

Public concern over artificial intelligence (AI) scams is rapidly rising – and it’s really no wonder.

According to Europe-wide research from CRIF, three quarters (75%) of Brits are worried about AI-powered fraud, while two in five (40%) believe banks and insurers aren’t doing enough to protect them.

Just a year ago, CRIF found just 24% of UK consumers were worried about the risks that the rise in AI use posed. Fast forward to 2026 and two thirds (66%) believe fraud and cybercrime are becoming a bigger personal threat to them.

They’ve got good reason to be concerned. In June this year, the BBC reported that more than four million fraud cases were reported in 2025 – amounting to an eye-watering total of £1.3bn stolen by scammers.

The good news is there has been a drop in impersonation fraud, where criminals pose as a bank, the police or an organisation and convince victims to transfer money to a “safe account”, according to UK Finance.

But, unfortunately, AI is enabling criminals to come up with more sophisticated and convincing scams, leading to people losing their hard-earned money.

AI can now mimic the voices of celebrities or even loved ones. Romance scams are on the rise, where criminals use a fake profile to forge a relationship with victims, gaining their trust and then asking for money.

Investment fraud, where criminals persuade victims to put money into a fake or misleading investment opportunity, was also up 40% year-on-year in 2025.

The key thing to remember is to stop and “take five” if someone unexpectedly asks for your money or personal information.

As part of a new campaign, Strictly Come Dancing judge Craig Revel Horwood is urging people to “master the art of impoliteness” to prevent fraud, saying “when it comes to fraud, being a bit rude is exactly the right thing to do”.

Here are some ways to keep you (and your loved ones) safe from scams in 2026:

If someone you don’t know phones you and asks for personal info, security details or even money, hang up. You can then contact the organisation they’re claiming to be from directly to ensure the request is legit.

If you receive a phone call from someone close to you demanding something, be aware that it might not actually be them as AI can now clone people’s voices using clips from social media.

Red flags to watch out for, according to Central Bank, include: your ‘loved one’ pressuring you to act quickly to wire money or send personal details; unusual requests which seem out of the ordinary; and not letting you ring off so you can verify who’s calling.

The advice here is to stop, hang up, and contact your loved one directly via their phone number or another trusted platform.

It can also be useful to come up with an obscure ‘code word’ that only you and your family members know so that if a situation does arise where they need you to send them money or information, you can ask them for the code word to verify it’s really them.

If you receive an email or see an advert that pressures you to act quickly – whether that’s regarding an investment opportunity or buying sold-out concert tickets – close it and act with caution.

The Take Five campaign urges: “Do your research and independently verify the company using the Financial Conduct Authority’s Firm Checker before you share any personal details or send money.”

With romance scams on the rise, fraudsters are gaining people’s trust by asking them lots about themselves, showering them with compliments, claiming they’ve fallen in love with them, and then asking for money.

The Neighbourhood Watch Network advises a few steps to take to steer clear of these scams, including: not accepting friend requests from people you don’t know, doing a reverse image search on people’s profile images if you’ve not met them, avoiding giving away too many personal details online; and never sending or receiving money to someone you’ve met online.

If someone knocks on your door offering to clean your drive, clear your gutters, or offer another service, don’t agree to anything straight away.

Take Five warns that fraudsters can pose as tradespeople and pressure you into a quick decision or ask for money upfront.

“Shut the door, take time to check the company or trader is genuine, and speak to someone you trust before making any payment,” the campaign advises.

And lastly, if you think you’ve been scammed, don’t be embarrassed or try to brush it under the carpet.

Contact your bank immediately and tell the police at reportfraud.police.uk or on 0300 123 2040.

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