Nearly 15,000 impersonation scam cases were reported by UK Finance members between January and June 2020, an 84% increase compared with the first half of 2019.
Among these, more than 8,220 cases involved criminals impersonating the police or a bank, a 94% year-on-year upswing.
UK Finance also said the increase in impersonation scams appears to be partly driven by criminals pretending to offer grants related to Covid-19, or offering fake refunds for cancelled flights.
They may also be taking advantage of people working from home, by pretending to be from IT departments, for example, so they can remotely access victims’ computers.
Criminals may convince victims to make payments to them by pretending to be from trusted organisations such as the police, a bank, a utility company, or a government department.
In total, £58 million was lost to impersonation scams between January to June 2020, up 3% on the previous year.