Lloyds Bank issues urgent warning of 'manipulative' new scam costing victims up to £5,000

Lloyds Bank has urged job seekers to stay alert after a staggering 237% rise in "advanced fee" job scams since the start of the year. According to the banking giant, some victims have lost as much as £5,000 to increasingly "sophisticated" fraudsters through this new scam.

These scams, often disguised as remote work or content engagement opportunities on social media platforms, have become a major threat to people searching for work across the UK. The threat is particularly prevalent among those aged 18 to 34, who make up more than half of all reported victims. Liz Ziegler, fraud prevention director at Lloyds said: "These job scams are evolving rapidly, blending digital sophistication with emotional manipulation. Fraudsters are taking advantage of genuine job seekers, drawing them in with fake advertisements giving promises of remote work with big payouts and instead leaving them financially and emotionally drained."

Typical scam tactics include fake job offers involving simple online tasks, such as liking TikTok videos or posting fake reviews. Victims are promised high earnings but then asked to pay up-front for things like application processing, training, DBS checks, or visa sponsorship.

Once the money is sent, scammers often ignore or block the victim, with nothing materialising in return. In more elaborate variations, scammers create fake interviews, recruitment processes, and even employment contracts. They sometimes impersonate real recruitment agencies and use WhatsApp or Telegram group chats to add a veneer of legitimacy.

The average loss per victim is £1,420, but in the last six months, 7% of victims lost more than £5,000, with many manipulated into making multiple payments for supposed "VIP" upgrades or fictitious taxes, and sometimes unwittingly becoming money mules.

Christina Ford, fraud investigator at Lloyds, said: “I’ve spoken to a number of customers who have been approached unexpectedly with job offers, or they’ve responded to advertisements promising quick cash or remote working opportunities.

"These offers usually take place on social media platforms, sometimes not even framed as a job advert, but instead in the form of a fake profile talking about a great job opportunity they’ve had themselves. Conversations often shift to other apps such as Telegram, where individuals are added to group chats posing as workspaces.

"The roles presented appear simple, such as watching or liking TikTok videos or writing fake reviews to boost company ratings. Customers are told they will earn a set amount per task and initially receive payments into their accounts. However, these payments are often sent by other scam victims who believe they are paying to unlock higher-paying tasks."

To help you avoid falling victim to an advanced fee job scam, Lloyds Bank shared for top tips.

• Be cautious of unsolicited adverts or job offers promising easy money, especially on social media, which is a key "hunting ground" for fraudsters. If you spot one, report it to Action Fraud.
• Remember that no legitimate company will ask you to make payments when applying for a job, nor would they ask you to use your own bank account to transfer their money. Do not do it under any circumstances.
• Verify recruiters and companies independently, do your own research and don’t rely on links and documents they provide.
• Avoid opportunities where you are added to unknown apps or group chats that claim to be part of the process.