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Urgent consumer warning as TSB finds over a third of adverts on Facebook Marketplace could be scams
TSB is warning consumers to avoid making online purchases on Facebook Marketplace – as fraud experts assess over a third (34%) of the adverts tested on the platform to be scam posts.
Members of TSB’s fraud team sampled 100 Facebook Marketplace posts on their feed1 – including cars, watches, games consoles, air fryers and handbags – and engaged with the seller to determine whether the items were genuinely for sale, or scams.
The fraud experts concluded that 34 percent of the listings were fraudulent once the seller used tactics known to be commonly used by purchase fraud criminals. For instance, sellers deemed to be scammers directed TSB fraud experts to fake websites; refused to allow viewing of an item in person and demanded advanced fees. TSB also discovered items advertised as ‘brand new’, for hundreds of pounds less than their real retail price.
Scale of Marketplace fraud
The findings chime with the excessive fraud rate from Facebook Marketplace, which currently accounts for 73 percent of all purchase fraud cases at TSB – and remains the biggest driver of fraud by volume. TSB’s calculations show that £60m3 could have been lost by customers of all banks via Facebook Marketplace in 2023 – which is £160,000 being lost every day on the platform.
Matt Hepburn, Fraud Spokesperson, TSB, said: “You wouldn’t shop at a supermarket if a third of the items were stale or counterfeit – so the same should apply to Facebook Marketplace, where you have a one in three chance of being scammed when paying online.
“Social media companies really must act on their commitments under the government’s Online Fraud Charter by urgently clearing up their platforms – removing scam adverts is a good first test.”
Most scammed items on Facebook Marketplace in 2023 by volume
1. Vehicle/Vehicle Parts | 21% |
2. Phone | 7% |
3. Shoes and Clothing | 7% |
4. Games Console and Accessories | 7% |
5. Concert and Festival Tickets | 6% |
6. Small Electronics (Laptop, Cameras, Tables, Drones etc) | 5% |
7. Furniture | 5% |
8. Household Electronics and Appliances | 4% |
9. Service | 3% |
10. Building Materials and Tools | 3% |
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