Lloyds Bank Says Customers Spend Millions on Products That Never Arrive
Lloyds Bank has published a new report highlighting scams on e-commerce websites. According to the report, thousands of customers have been lured into shopping online by fraudulent websites showing fake items. The bank estimates that $8 million went into the hands of scammers last year in the UK alone. Also Read: BRICS: Chinese Yuan Beats Euro To Become the Second Most Used Currency The scam details are simple: All it takes is to create a website with images of the products. The scammers masquerade as popular brands on social media and put out advertisements based on their shopping preferences. Several of them launched websites with new brand names, copying the product images from other sites, reported Lloyds Bank. Cheap Bargains Led to $8 Million Worth of Fraud: Lloyds Bank outlookmoney.com The banking giant revealed that scammers offer heavy discounts on prices, luring customers into buying their products. Lloyds Bank reported that these types of scams have risen 211% compared to th...