June 8, 2026 More than two-thirds of fraud cases reported by Lloyds customers originated on Meta-owned platforms, according to the bank’s head of fraud prevention. Data from the banking giant shows that 68 per cent of fraud reports submitted by customers began on Facebook, Instagram, or WhatsApp.
The findings were shared by Lloyds fraud prevention director Liz Ziegler, who said scammers continue to use social media platforms to target victims. The data suggests people in their late twenties and early thirties are among the most commonly affected groups.
Ticket scams were among the most frequently reported fraud schemes. Customers reported losing money while attempting to buy tickets for major events, including Taylor Swift’s Eras Tour and Premier League football matches.
Lloyds also recorded a wide variety of other scams involving products and services such as wedding photobooths, tattoo deposits, vapes, wigs, Moncler jackets, football shirts, and Dyson products.
The financial impact of these scams appears to be growing. According to Lloyds, the average value of fraud claims submitted by customers has risen to more than £500, an increase of roughly £100 compared with the previous year. “Customers tell us they feel upset, embarrassed and shaken. This is deeply personal and it can take a long time to recover,” Ziegler wrote in the Sunday Times.
The figures emerge as legal action against Meta is being prepared in the United Kingdom. Law firms Richardson Hartley Law and Humphries Kerstetter recently announced plans to bring a group legal claim on behalf of individuals who lost money after responding to fraudulent advertisements on Facebook or Instagram.
The firms said many victims had suffered significant financial harm after interacting with scam advertisements on Meta’s platforms.
“A large number of fraud victims have had their lives ruined after answering scam ads on Facebook and Instagram,” the firms said in a statement. “We have decided that we could no longer sit back and do nothing for these people. Our solution is to try to get their lost funds back from Meta. We hope that by holding Meta to account it will encourage the technology giant to stop showing these fake adverts.”
Meta defended its efforts to combat online fraud, stating that scammers continuously adapt their tactics to evade detection.
According to a Meta spokesperson, the company requires advertisers promoting financial products in the UK to demonstrate appropriate authorization from the Financial Conduct Authority. The company also said it removed more than 159 million scam advertisements last year, with 92 percent taken down before being reported by users.
