People are being warned to stay vigilant when it comes to buying a new pet online as there has been a significant increase in the number of pet scams.
The Lloyds Bank report revealed that pet scams are up 24% compared to last year, with victims losing an average of £307.
Over 50% of these scams originated on Meta-owned platforms like Facebook and Instagram.
Posting fake adverts is the most common tactic used by fraudsters and at first, the scammer may appear to follow the normal steps of a reputable seller; agreeing to a viewing of the pet, or with its mother for example, but this is usually followed by excuses and pressure to part with money.
According to the findings, the most frequent pet scams involve dogs, however, scams related to horses and horse equipment are up by 42%.
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Email JaimeLiz Ziegler, Fraud Prevention Director at Lloyds Bank, said, “Owning a pet is one of the great joys of life, becoming true companions and part of our families. Fraudsters know this and – as always – are ready to take advantage, preying on people’s desire to add another family member to the home.
“It is infuriatingly simple for a fraudster to upload a fake advert to an online marketplace for an animal that doesn’t exist, not to mention those posted by appalling disreputable breeders whose interests lie firmly in profit, rather than animal welfare.
“Social media companies are making money from these criminals, and those searching for a pet are left heartbroken twice. Once by the loss of hundreds, or even thousands, of pounds, but also by the realisation and disappointment that a pet won’t be joining the family after all.”
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