Money management
The sun’s out, bags are packed, and you’re ready for an unforgettable getaway. Unfortunately, summer is also a busy season for fraudsters looking to exploit holidaymakers.
According to Report Fraud, more than £12 million was lost to holiday scams last year. With many bookings now made online, it’s important to stay alert and know the warning signs.
Spot the signs of a holiday scam
Holiday scams often start with convincing websites, social media adverts or fake property listings. Watch out for:
- Deals that seem too good to be true. Extremely cheap flights or luxury accommodation at unusually low prices.
- Requests to move off the booking platform. Fraudsters often ask to continue conversations via email or messaging apps.
- Pressure to pay by bank transfer. Legitimate providers will usually offer secure card payment option.
- Fake holiday homes. That dream villa you are considering might not exist. Scammers will list fake properties, even on legitimate sites, that disappear once you’ve paid for them.
- Fake websites and reviews. Scammers can copy branding, images and customer reviews to appear genuine.
- Unexpected refund or compensation offers. Be cautious of anyone asking for payment details to process a refund.
Real life example
One of our clients found a holiday villa online that appeared genuine, complete with professional photographs, positive reviews and a responsive host.
After making an initial enquiry through the booking platform, the host encouraged them to continue the conversation by email and offered a discount for paying by bank transfer rather than through the platform.
To provide reassurance, the host sent a rental agreement, copies of identification documents and further photographs of the property. Everything appeared genuine and there was no obvious reason to be suspicious.
The client transferred the funds, but days before they were due to depart, the host stopped responding and the listing disappeared. The property never existed and the money was sent directly to fraudsters.
This highlights the importance of keeping communications and payments within trusted booking platforms wherever possible.
How to stay safe when booking your trip
While scammers may be clever, a few smart steps can go a long way in keeping your holiday plans safe:
- Keep all communications within the booking platform.
- Be cautious if a host asks you to move conversations to email or messaging apps.
- Never feel pressured to pay by bank transfer to secure a discount.
- Independently verify properties using maps, reviews and online searches.
- Where possible, pay using a debit or credit card rather than a bank transfer.
- Trust your instincts – if something doesn’t feel right, pause and carry out additional checks.
Be cautious, taking these simple steps now will protect your holiday later.
What to do if you suspect you have been scammed
If you suspect a scam, or you are unsure about making a payment, contact your wealth adviser or our client services team immediately. A little caution now means a stress-free holiday later. If something doesn’t feel right, trust your instincts.
If you are ever unsure, Nedbank Private Wealth clients can contact us at +44 (0)1624 645000 (Monday to Friday, 7am to 6pm UK time, except for UK public holidays).
Stay safe and enjoy your break.
For more tips and advice, visit our Protect Yourself from Fraud page.
