UK Cybercrime Journal: H1 2026 Social Media Fraud Trends
What Happened HMRC Issues Warning to TikTok Users On 4 June 2026, HM Revenue and Customs (HMRC) uncovered a suspected £153 million tax fraud scam involving TikTok. The scheme allegedly involved individuals posting advertisements on the TikTok, enticing users to hand over sensitive tax information, including business VAT registration details or personal self-assessment credentials for a financial reward. Using the stolen tax details, the fraudsters could file bogus repayment requests with HMRC. The warning comes after two Romanian men, aged 22 and 25, were apprehended by HMRC officers in east London on 23 April 2026 in connection with the alleged fraud. Lloyds Bank found Two Thirds of Fraud Cases Started on Meta On 6 June 2026, Liz Ziegler, the Lloyds fraud prevention director disclosed that 68% of fraud reports from their customers started on a Meta platform, including Facebook, Instagram, and WhatsApp. The average claim value submitted to Lloyds Bank is now above £500, an incre...