Martin Lewis says lives being 'destroyed' by mistake easy to 'dismiss'

Martin Lewis has issued a scathing retort to people who brand the TV licence or government policies a "scam". The BBC Sounds podcast host spoke out on Black Friday, as he warned UK consumers and households over the rise in scams.

Mr Lewis, the 52-year-old Money Saving Expert founder, said: "When I talk about scams, I oft get replies like "the TV licence is a scam too" or "not putting up income tax thresholds is a scam" & more. I get this is venting, but it risks inuring people to the danger of actual scams.

"Scams and fraud make up 40% of UK crime Its under-policed, under-resourced, under-reported and under-regulated. We need that to change. Scams don't just destroy peoples finances, they have huge impacts on mental health and self-esteem.

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"Scams are primarily from dangerous organised criminal gangs, extra-territorially using sophisticated psychological techniques to lie, manipulate people, and steal with little repercussion. Dismissing that by equating it to legal policy decisions even those you strongly disagree with, draws attention away from the real need in our society to crack down on these criminals."

By 2pm today, Nationwide customers have made 5.24 million transactions - 18 per cent higher than a typical Friday. The number of purchases is 12 per cent higher than on Black Friday 2023 and 16 per cent higher than on the same day in 2022.

Mark Nalder, Director of Payment Strategy at Nationwide Building Society, said: "Due to the strong sales over the last couple of hours, this year’s Black Friday is in line with our expectation that this will be the busiest shopping day on record for our customers.

"However, it is important people continue to shop within their means and not buy items just because they are reduced. It will be interesting in the coming days and week to see how busy the returns departments at retailers are, as many experience buyer’s remorse after snapping up so many bargains. As our research shows, 41 per cent admit to returning items purchased on Black Friday.”