Half of UK adults have been targeted by scams in 2025, with the number rising to nearly two-thirds among Gen Z, according to the latest Barclays Scams Bulletin. The report draws on Barclays’ analysis of scam data across personal and business accounts.
Investment scams have become a growing concern, now accounting for 47% of the total value claimed by victims this year. This figure has increased from 39% in 2024 and 32% in 2023. Despite their large share of losses, investment scams made up only about 7% of reported cases in 2025, though this is an increase from previous years. Most claims continue to be related to purchase scams, which held steady at 71%. Social media remains a key channel for these schemes; one-third of reported investment scams began on such platforms.
The data also show that social media is the main source of scam reports among Gen Z customers, responsible for nearly six out of ten cases. Across all age groups, social media accounted for 45% of scam origins.
Advances in artificial intelligence are believed to have contributed to more convincing online scams. Three-quarters of survey respondents said AI had made it harder to detect fraud attempts. As a result, about one-third of Gen Z consumers now avoid online shopping due to concerns over scams—a higher rate than older generations.
Barclays noted a shift toward text and SMS-based scams as consumer confidence in online channels declines. Reports indicate that average monthly scam volumes via text/SMS have risen by 40% since last year and now make up 14% of claims.
The research highlights that many people act on financial advice from social media influencers without conducting background checks. About one-quarter admit feeling pressured to act quickly on unsolicited tips, with this figure reaching nearly half among Gen Z respondents.
Most consumers believe more should be done to protect them from fraud: eight out of ten want stronger safeguards against scams, and nearly as many think technology companies should do more to prevent fraudulent activity on their platforms. Almost half would support banks and tech firms sharing personal data if it helps prevent victimization.
Kirsty Adams, Fraud & Scams Expert at Barclays, commented: “Once again, scammers adopted new tactics in 2025, and as a result we saw a shift in the nature of scams reported by our customers. While fraudsters targeted victims with higher-stakes opportunities, we witnessed the resurgence of scams coming via text message, as confidence in online channels has declined.
“There’s no doubt that scammers will attempt to take advantage of shoppers during the festive sales, so we’re urging people to remain vigilant. Looking ahead to 2026, we’re hopeful we will see continued progress in the fight against fraud, in the form of cross-industry collaboration.”
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