UK Finance warns on holiday scams

Laura Suter
26 June 2020

UK Finance is warning people to be aware of coronavirus holiday scams. 

Laura Suter, personal finance analyst at investment platform AJ Bell:

“In their eagerness to book a post-lockdown holiday and finally escape their homes it’s understandable that lots of people might easily be tricked into handing over their money to scammers who are offering irresistible deals or last-minute breaks. We’ve already seen a spike in scam cases during Covid-19 as scammers unscrupulously target people in the crisis, but they are now moving to offering fake accommodation listings or promising cheap caravan stays, among others.

“In their rush to book a summer break people need to remember to be savvy to some of the tricks that fraudsters use to avoid losing their hard-earned holiday funds. Scammers will often put pressure on you to make a quick decision and hand over money immediately, to stop you thinking it through or checking with family, while others will offer impossibly cheap deals for breaks away or accommodation.

“Even if you’re not booking a break away you could be a target. So many of us are waiting on refunds for cancelled holiday plans, and the fact that airlines and holiday companies are taking so long to refund individuals has opened up a gap for scammers to slide in. Many are pretending to be airlines or travel agents and promising quicker refunds, nabbing your bank details while they are there. 

“But never respond to someone who approaches you out of the blue and only speak to your travel provider or bank about refunds, not third parties. What’s more if you have any suspicions then hang up and call the company back via a phone number you find yourself. After months of lockdown the last thing you want is your summer escape turning into a criminal case.”
 

Laura Suter
Director of Personal Finance

Laura Suter is director of personal finance at AJ Bell. She is a spokesperson for the company on a range of personal finance topics and is quoted in print media and regularly appears on TV and radio. She is also a founding ambassador of AJ Bell Money Matters, a campaign to get more women investing and engaging with their finances; she hosts two podcasts; and regularly speaks at events and webinars. Prior to joining AJ Bell she was a multi-award winning financial journalist, specialising in investments. Laura joined AJ Bell from the Daily Telegraph, where she was investment editor. She has previously worked for adviser publications in London and New York and has a degree in Journalism Studies from University of Sheffield.

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