What Parents and Carers Need to Know about Online Financial Scams and Exploitation

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Ross Savage Experienced financial crime compliance trainer and consultant

This free online safety guide addresses some common online financial scams – and suggests ways to help children and young people avoid falling victim to them.

More than 80% of people in the UK regularly make purchases online: it’s quick, it’s convenient and – much of the time – it’s safe. Not, however, quite as often as we would like to believe. In fact, financial losses to internet or e-commerce fraud have risen alarmingly in recent times – from an annual total of £139 million at the start of the 2010s to a staggering £376m per year by 2020.

As buying online becomes an increasingly preferred option (it now accounts for almost a third of the UK’s entire retail market), it’s important that the next generation is prepared to navigate away from the various scams and schemes that lie in wait for unwary online shoppers. Parents and carers can find some useful tips and conversation starters in our #WakeUpWednesday guide.