The findings were released at an event in Westminster to raise awareness and minimise fraud.
This was done in a bid to support an initiative from National Trading Standard called Friends Against scams.
One of the best ways customers can help themselves is to learn the common tricks used by fraudsters and what to look out for.
According to NatWest records, Nearly 7,000 customers have fallen victim to various scams since the start of 2017.
The most common scam to look out for was “goods not received”. This involves someone paying for items or services that never turn up.
This scam accounted for 2,073 of cases seen by NatWest, or around three in 10 scams.
Nearly 7,000 customers have fallen victim to various scams since the start of 2017
NatWest warns that these scams usually happen on online auctions and marketplaces.
In order for customers to protect themselves, they should check the item description carefully and read the website’s dispute resolution policy before buying.
Recognised, official paying services should be used, and customers are advised not to pay via direct bank transfer off-site.
Business customers should also be aware that they can fall victim to scams.
Particularly, “invoice fraud” can cause substantially big losses.
“Invoice fraud” occurs when a business receives a fake invoice that appears to be from a trusted trading partner.