Bank impersonation scams surge in the UK as Lloyds and Santander data show fraudsters stealing 10% more per victim year on year

Bank impersonation fraud is rising sharply across the UK, with data from two of the country's largest retail banks illustrating the scale of the problem. Lloyds reports that fraudsters posing as representatives of trusted organisations, including banks, HM Revenue & Customs, the police, and phone providers, stole 10% more from its customers in the year to the end of June 2026 than in the previous 12 months. While the number of Lloyds customers reporting a scam fell by 3% over the same period, the average sum taken rose by 10% to £3,516, suggesting scammers are becoming more selective and more effective. Santander reports that more than £3m has been stolen from its customers through bank impersonation scams so far this year, with an average loss of £6,000 per victim, a figure considerably higher than the Lloyds average. The typical fraud pattern begins with a text message claiming a payment has been set up on the victim's account, followed by a call from someone purporting to be from the bank's security team or the police. Victims are then persuaded to transfer funds to a so-called 'safe account' or hand over their debit cards. Nationwide building society's head of fraud analytics, Elaine Ross, and Santander UK's head of fraud risk management, Chris Ainsley, both emphasised that customers should hang up and call back using the number on their bank card if they have any concerns, and that banks will not object to customers asking to verify a call through a separate channel.