Barclays has issued a stark warning to its customers as new data reveals a dramatic shift in fraud tactics, with investment scams now responsible for nearly half of all money claimed by victims.
Investment Fraud Becomes the Primary Threat
The bank's latest scams data shows a worrying trend: investment scams accounted for 47 pence in every £1 claimed by victims in 2025. This marks a significant increase from 39p in 2024 and just 32p in 2023. Barclays reports that half of all UK adults have been targeted by a scam this year, with the figure rising sharply to two-thirds (64 per cent) of Gen Z.
Kirsty Adams, a Barclays Fraud and Scams Expert, commented on the evolving threat. "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," she said. "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."
The Changing Landscape of Scam Delivery
While social media remains the single largest source of scams, with one in three (35 per cent) reported investment scams originating on these platforms, the method of delivery is changing. Barclays notes that average monthly volumes of scams originating via text or SMS have surged by 40 per cent compared to 2024.
Despite the rise in high-value investment fraud, purchase scams – where people pay for goods or services they never receive – still account for the largest share of claims at 71 per cent, a figure unchanged from the previous year.
The role of technology in making scams more convincing is also a major concern. A Barclays survey found that 75 per cent of customers believe artificial intelligence (AI) has made online scams more difficult to spot.
How to Protect Yourself from Evolving Fraud
With the festive sales period presenting a prime opportunity for criminals, Barclays is urging heightened vigilance. The bank has reiterated crucial safety advice for all customers.
Barclays staff will never ask you for your debit card PIN, your full password, or your complete online banking login details. Any such request should be treated as an immediate red flag.
If you are contacted by a company and feel unsure, always verify their details independently. Check official websites and call the listed number yourself rather than using a number provided in a suspicious email or text.
When making purchases or considering investments, resist pressure to act hastily. Legitimate organisations will not force you into quick decisions. Furthermore, if you receive a one-time passcode to authorise a transaction, always read the accompanying message in full to ensure it matches what you are attempting to do. If it does not, stop immediately and do not share the code.
Looking ahead to 2026, Barclays expressed hope for progress in the fight against fraud through increased cross-industry collaboration. However, for now, the message to customers is clear: stay alert to these new, more sophisticated tactics designed to wipe out bank accounts.
