Just when you think you can spot a scam, fraudsters change the game.
Scammers are constantly devising new, more sophisticated tactics to target your finances, personal information, and device security.
So, by the time a scam has become general knowledge or been addressed with legislation, the chances are that these bad actors have already moved on.
As a result, according to UK Finance, there were 3.31 million confirmed cases of fraud in 2024, amounting to £1.17 billion in stolen funds.
The prevalence of fraud in the UK could present a significant risk to your finances. But by staying up to date on the latest scam tactics and how to spot them, you can protect your wealth from fraudsters.
Read on to learn about three new scam trends emerging in 2025, and the steps you can take to avoid them.
1. Deepfake videos, audio, and images are making impersonations even more convincing
Generated using AI, deepfakes are highly realistic videos, audio, or images impersonating an individual. Scammers use these deepfakes to convince targets that they’re someone else and deceive them into handing over money or personal details.
A deepfake can be of anyone
Often, deepfakes will impersonate someone the victim trusts. The visuals and audio are generated using content posted online, meaning they can pretend to be a loved one using footage of them from social media or even their workplace.
A deepfake can appear to come from numerous trusted sources, including:
- Family and friends
- Love interests
- Colleagues and senior leaders
- Public figures
- Organisations, such as banks and government agencies.
When the individual being impersonated is known to you, scammers might stage an emergency that requires an immediate payment. By creating urgency, they aim to prevent targets from stopping long enough to question the request or for the scam to be exposed.
Similarly, when impersonating public figures and trusted organisations, scammers might try to panic you with a threat of legal action or a fine. Alternatively, they could offer a lucrative-sounding opportunity, such as an investment or job.
Look carefully, listen closely, and verify their identity to spot a deepfake
Deepfakes are highly sophisticated and take advantage of a general lack of awareness of what’s now possible. After all, in the past, why would you have questioned a call from your daughter, a video conference with your boss, or footage of a celebrity if you don’t even know it’s possible to fake it?
But if you know what to look out for, you can spot the signs of a scam:
- Don’t panic – Always take a moment to question requests for money or information.
- Look closely at videos and images – There are likely to be visual inaccuracies and inconsistencies, such as lips not moving naturally or errors in the background.
- Listen to the tone of voice – AI struggles to replicate natural pitch changes and emotion.
- Verify their identity – You could use another means of communication, ask them a question only the real person would be able to answer, or agree a “safe word” or “security phrase” with loved ones.
If the request seems out of the ordinary, always stop to double-check who you’re talking to.
2. Malicious QR codes are being used in “quishing” attacks
Whether you’re logging into a streaming service or paying for car parking, QR codes have become part of daily life. And scammers aren’t missing the opportunity to trick consumers into sharing their bank details or personal information.
QR code phishing – or “quishing” – aims to deceive targets into scanning a two-dimensional barcode under false pretences. After you’ve scanned the QR code with your phone, you might be directed to a fake login or payments page, or a malicious site asking for personal details. In some cases, your device might immediately start downloading a virus.
Between April 2024 and April 2025, Action Fraud received 784 reports of QR code fraud, costing individuals almost £3.5 million.
Any QR code could be malicious or tampered with
For fraudsters, malicious QR codes can be very effective at evading antivirus software and email spam filters. Since their source is harder to identify than a traditional link, and many people are unaware that QR codes pose a risk at all, they can also go unscrutinised by users.
Malicious codes can be found anywhere, both online and on physical objects.
- Login portals – Some websites and apps use QR codes to help you log in more easily, but scammers have been known to hijack these codes. So, instead of logging yourself in, you grant them access.
- Car parking – According to Action Fraud, quishing is most prevalent in car parks. Stickers bearing malicious QR codes are placed over authentic codes used to pay for parking, tricking customers into entering their card details.
- Trusted sources – Even QR codes from trusted websites, emails, and social media profiles can be hacked. Scammers can tamper with legitimate codes, redirecting users to malicious sites.
Scrutinise QR codes before you scan and secure your accounts
When scanning any QR code, it’s important to stay vigilant and take steps to keep your information safe.
- Verify the URL – Always preview a link on your QR code scanner before clicking through.
- Consider the source and intent – Never scan codes from an unknown source or one that makes unlikely promises.
- Enable two-factor authentication – Protect sensitive accounts by having multiple verification methods enabled.
- Use the scanner built into your phone – Never use a downloaded app to scan a QR code.
Crucially, you should never enter your personal details or make payments through a QR code. Always look for the page on the legitimate website of the organisation.
3. Scammers are using bank cards remotely by asking for one-time passcodes
In a scam known as “remote purchase fraud”, scammers collect your bank details and use them to make online purchases or add your card to their digital wallet.
Despite banks taking steps to prevent fraudulent transactions – such as requiring one-time passcodes (OTPs) for new purchases – scammers continue to find ways to circumvent these safeguards.
As a result, remote purchase fraud has reached its highest levels yet, with UK Finance stating that 2.6 million transactions were made with stolen card details in 2024.
Be wary of anyone asking for a one-time passcode
Scammers will begin by harvesting your card details through various tactics. They might send a fake delivery email, asking for payment to retrieve a parcel. Alternatively, they could obtain your information from a data breach at an organisation where your card has been used.
Crucially, there’s not much they can do with your card details alone. Bank security measures normally require an OTP sent to your phone or email to verify new payments or add the card to a digital wallet.
So, once you’ve entered your card details into a fraudulent site or had your data hacked, the scammers will often call, impersonating your bank. These criminals can be very convincing, as they can find out who you bank with and your account details.
The scammers will let you know your card details have been stolen, citing the exact scam you’ve fallen foul of. They’ll ask you to confirm your identity by reading out the OTP sent to your phone. They can then spend your money however and wherever they like.
Since sharing these codes is strictly against banks’ security policies, it can often be hard to recover the funds as you’re deemed to have authorised the payment yourself.
Never share a one-time passcode, even with someone purporting to be from your bank
Sometimes, despite taking all the right steps to protect your bank details, they can still fall into the wrong hands. Should this happen, here’s what you can do to prevent scammers from using your card to make purchases:
- Be sceptical – If you receive a phone call from someone claiming to be from your bank, always question it. If you’re unsure, hang up immediately and call the number on the back of your card or on the bank’s website.
- Keep your passcode private – Never share OTPs with anyone, either over the phone or online. Your bank will never ask you for your OTP.
Avoid panicking and pause to spot fraud
These new scam tactics are most effective when you’re in a panic. They’re designed to make you act fast and without thought, believing a loved one is in danger, your finances are at risk, or you’re about to receive a fine.
That’s why the best action you can take to protect yourself is to slow down, ask questions, and double-check before handing over any information.
If you’re considering an investment opportunity, such as one you’ve seen online or been contacted about directly, always check that the product is legitimate by consulting a financial planner.
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Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
All information is correct at the time of writing and is subject to change in the future.
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.