British customers are falling foul to many different scams and it is estimated that as customers we are losing roughly £3.5 billion per year. That works out at roughly £70 per adult living in the United Kingdom. This is a lot of money for the people of the UK.
The Office of Fair Trading has decided that tackling scams and the tricksters behind them is a priority and has engaged in comprehensive research into who is falling for these scams and why they are falling for them. The Director of Consumer Protection at the OFT has said that ‘’Scammers are finding more ruthless and sophisticated ways to exploit modern tools such as the internet, email or text messaging. These scams can deeply affect individuals and families, sometimes leading to debt, depression, and even suicide. Though anybody can be conned by the scammers, it is always the vulnerable – the oldest or youngest – who end up suffering the most.’
This is a really sorry story and the research shows that no-one is safe from the fraudsters, all demographics of people are falling into the traps that are being laid, and although the elderly are often scammed out of the most money, the most common age group falling for scams is 35-44-year-olds.
The majority of scams, which are now mass marketed via email, post, textphone, are offering something unbelievably tempting for comparatively little ‘input’ from the victim. A small upfront payment, the premium phone line you need to call to claim your prize, offer, deal or sale.
Worryingly the fraudsters share and sell your details so as soon as you fall victim to your first fraudster you can rest assured you will receive contact from many more.
One of the most common scams is, of course, bogus holiday clubs. Theses cost UK customers around £1.7 billion. There are roughly 400,000 victims per year with each one losing on average £3,030, a phenomenal amount of money for anyone to lose. The way the snare most of their prey is by offering scratch cards whilst on holiday and it seems that all the cards are winners, the caveat, you have to attend a presentation to win the prize. This is where the dirty deeds start, the bullying, pressurising and persuasion to join a holiday club which usually cannot deliver on the promises it makes. If you’re lucky enough to get away from this presentation unscathed you will likely be subjected to unsolicited calls, emails, letters, and text for the foreseeable future offering you deals, prizes and holidays that are literally too good to be true.
The easiest way to avoid this particular scam is don’t accept the scratch card and don’t attend the presentation. There are horror stories of these presentations lasting for hours, with people eventually signing up just so they can leave the building. You have to be aware that if you sign on the dotted line you could be signing yourself into an agreement it could be nearly impossible to get out of!
Don’t fall prey to this scam or any of the other various mass marketed scams that are so prevalent right now. If it sounds like it’s an incredible offer, opportunity or prize – make sure you thoroughly research before giving your money, details or signature. Look after yourselves!
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk