Santander in Clumber Street,Nottingham (Image-Google)

Santander this week have issued a warning to all account holders regarding a recent report which showed a 70 percent increase of scams via social media.

The bank have revealed that students and elderly customers with large saving accounts have been the main victims with one woman transferring a scammer payments of up to £80,000.

Santander have asked for other banks to also follow a set of fraud protection protocols which give customers more security when purchasing online.The bank are also asking banks to include more consistent data so that scammers are easily detectable.

The bank say the Online Safety Bill which is currently being discussed in government should be brought forward. The bill, if passed, would mean websites would have to follow strict guidance about the content published, removing any material deemed inappropriate according to the bill.

“Trying to keep people as safe as possible”

vicky,customer

The bill would make it more challenging for scammers to upload harmful links online which is how the majority of victims are getting scammed.The bill is at the Report Stage and was last reviewed on the 6th December.

Vicky, a Santander customer, said, ”I think its really important they’re letting people know about what’s going on and trying to keep people as safe as possible.

“Links supposedly from my bank and they’re not but it’s only because I understand what a website address should look like that I wouldn’t follow them.”

Vicky, Customer (Credit-CBJ News)

The bank also want all banks to include mandatory Payee-A fraud protection system which asks customers more details about the person they’re transferring money to.

Many banks have now updated their customer insurance policies with many banks changing their reimbursement guarantees to help any victims of fraud.

Under recent proposals from the Payment System Regulator (PSR) banks will be forced to reimburse any victims who lose more than £100 to bank transfer scams, apart from exceptional circumstances.