Michelle Pilsworth, Head of UK Fraud at Santander, said: “Slick social media profiles and fake reviews might appear trustworthy – but if an offer looks too good to be true, it probably is.”
This comes as separate research from fraud prevention firm Featurespace indicates that typical consumer scam losses reached close to £3,000 over the past twelve months.
Steve Goddard, fraud expert at Featurespace, A Visa Solution, said: “Criminals are flooding social media with seemingly great value deals to target consumers.”
The company’s findings suggest that fake websites promoted through social platforms represent the most prevalent form of fraud, with seven in ten consumers believing scam attempts increase during periods like Christmas.
Criminals are also deploying generative AI technology to make their schemes more convincing and harder to detect, according to Mr Goddard.
Facebook accounts for a third of these beauty scams, with Instagram responsible for a further quarter of cases, Santander’s figures reveal.
Santander issues urgent warning to customers
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GETTYTheir bank’s data shows victims have been defrauded of exactly £49,846.32 this year, with individuals losing an average of £227 each.
Other platforms where fraudsters operate include Snapchat, TikTok and WhatsApp. The typical scheme begins with an advertisement on social media offering heavily reduced prices on treatments or beauty products.
When potential victims show interest, scammers typically shift the conversation to private messaging applications to arrange bank transfers or payment links.
Ms Pilsworth explained: “Then the product never arrives or turns out to be fake and victims are left with nothing but regret.”
Women are disproportionately targeted by these criminals, comprising 68 per cent of victims compared to 32 per cent of men
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GETTYWomen are disproportionately targeted by these criminals, comprising 68 per cent of victims compared to 32 per cent of men, the bank’s research found.
Beyond financial losses, Santander is warning that counterfeit cosmetic procedures pose genuine dangers to physical health.
Pilsworth added: “This isn’t just about losing money – it’s about protecting your wellbeing. Fake cosmetic treatments can cause real harm.”
Dr Emma Meredith OBE, Director-General of the Cosmetic Toiletry & Perfumery Association, echoed these concerns: “Counterfeit cosmetics and personal care products may look like the brands we love, but the packaging is where the similarity ends. You could be buying a product that won’t work in the way you want, or worse, could pose a serious risk to your health.”
Santander cautions that figures could rise again as shoppers seek festive makeovers and bargain gifts online
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PAWhile third-quarter losses dipped slightly to £13,442.98, Santander cautions that figures could rise again as shoppers seek festive makeovers and bargain gifts online.
Goddard warned: “Over the next few weeks, we’re likely to see a surge in scam attempts using the names of popular retailers and brands in order to target shoppers.”
The Cosmetic Toiletry & Perfumery Association advises consumers to watch for warning signs including dramatically reduced prices, flash sale advertisements, and social accounts not linked to official brand websites.
Dr Meredith urged: “Always make sure you buy your products and services from reputable outlets.”