Overview

• Fraudsters are impersonating trusted brands like Screwfix, Amazon, and Decathlon on Instagram and Facebook, promoting fake time-limited offers.
• Victims unknowingly sign up for recurring payments of £30-£40 every two to four weeks through continuous payment authorities.
• Lloyds Bank has received 1,400 chargeback requests from January to April, with many payments showing codes like ‘PYD’ or locations in Cyprus and Ireland.
• Customers are advised to scrutinize offers that seem too good to be true, check web addresses for inconsistencies, and read fine print for hidden subscription terms.
• Lloyds encourages affected customers to use their mobile app’s ‘get help with this transaction’ feature to reverse unauthorized charges under card protection rules.