Recent research has revealed a shocking new epidemic: almost one in five people—approximately 9 million—has fallen victim to a financial scam in the past year. The vast majority of these scams, 76%, were carried out through social media, where scammers posed as friends in need, promoted fake debt advice, or lured people into fraudulent pension or investment schemes. One particularly deceptive scam involved QR codes: scammers placed stickers with fake QR codes over legitimate ones in car parks, redirecting unsuspecting users to fraudulent payment websites where their personal and financial information was stolen—along with their money.
The Citizens Advice Bureau, which conducted the research, found that the impact of these scams extended far beyond the initial financial loss. About 43% of victims reported having to borrow money or increase their debt to make ends meet. Nearly a quarter (24%) relied on help from friends or family, while 20% took on additional jobs or extra shifts to recover from their losses.
With the rise in scams, it’s essential to remain vigilant and proactive. To safeguard your financial wellbeing, consider learning how to recognise the signs of a scam and always verify the legitimacy of payment platforms and requests.
But beyond practical steps, seeking spiritual wisdom can be a powerful way to protect yourself and your finances. Even if you’ve escaped these scams, financial strain is still a reality for many, especially as the year-end pressures mount, businesses struggle, and wages stagnate. Many professionals may end the year with finances stretched thin or consider a career shift due to workload and lack of recognition.
If you’re looking to finish the year with renewed financial stability and fulfilment, join us for the ‘Fifth Cry Out for the Walls to Fall Down,’ a meeting where we will seek guidance and protection against financial barriers and challenges. By faith, we believe every wall blocking your financial progress will fall down.
Event: The Fifth Cry Out for the Walls to Fall Down
Date and time: Monday, 4th November at 7:30pm (also at 7am, 10am & 3pm)
Location: Your local Universal Church
