The Co-operative Bank launches free scam checker to help customers spot fraud

The new scam checker will help customers identify potential scams before they part with their money, as new research reveals growing concern about increasingly sophisticated fraud.

The Co-operative Bank has partnered with scam-checking service Ask Silver to launch a free online scam checker, helping customers identify suspicious text messages, websites and images before they become victims of fraud.

The launch comes as new research commissioned by the Bank found exactly two thirds of people are worried about being scammed, while 84 per cent are concerned that fraudsters are using artificial intelligence to make scams appear more convincing.

The research also found 63 per cent believe scams are becoming more sophisticated in the way they use technology, 57 per cent think they are becoming more common and 55 per cent say they are becoming harder to spot.

Data from Ask Silver suggests fraudsters are increasingly exploiting everyday activities to deceive consumers. Checks relating to suspected purchase scams increased by 164 per cent over the past year, while impersonation fraud checks rose by 31 per cent and fake security alerts increased by 62 per cent over the last six months.

Purchase scams, impersonation fraud, tech scams and delivery scams were among the most commonly identified scam types over the past year, according to Ask Silver's data.

Vishal Majithia, Head of Economic Crime at The Co-operative Bank, said:

"The scams we're seeing today often hide behind perfectly ordinary moments, from shopping online and tracking a parcel to receiving a message that appears to be from an organisation you trust.

"Fraudsters follow where people spend their time and money and quickly adapt their tactics to popular platforms, services and new technology.

"That means anyone can be targeted, so knowing what to look out for and taking a moment to check something before you act can make all the difference."

The Bank's research found that 43 per cent of adults have received unexpected messages from delivery companies requesting payment details for postage shortages or to confirm an address, while 38 per cent have received tracking updates for deliveries they never ordered.

Among those who have previously fallen victim to a scam, the average financial loss was £2,850. Six in ten said most digital scams they had encountered were disguised as everyday admin.

The research also revealed a gap between perception and reality when it comes to who is most at risk. While 65 per cent believe older people are the most susceptible to digital scams, Office for National Statistics data shows adults aged 25 to 44 are among the most likely to fall victim, particularly to phishing scams.

Delivery scams, government impersonation scams and windfall scams were among the scam types people were most familiar with, while cryptocurrency scams, casino scams and task scams were less widely recognised.

Alex Somervell, CEO and co-founder of Ask Silver, said:

"In this digital age where scams are increasingly sophisticated and fraudsters are highly experienced, we have to empower individuals with tools that keep them safe and allow them to communicate, shop and live with peace of mind.

"This is a deeply personal mission for me as my dad lost almost his entire life savings to scammers and it had a devastating impact on our family. Helping to prevent that experience for others inspires everything we do at Ask Silver.

"As AI-enhanced scams accelerate the potential impact of fraud, we are using our AI-powered scam checker to fight back.

"Supporting customers at the point where they are parting with their hard-earned cash is where we can make a real difference, and we're delighted to be partnering with The Co-operative Bank because every scam we stop is another person we can help keep safe."