BBC'S £3K ALERT TO ANYONE USING 'PAY LATER' SCHEMES AS ACCOUNTS 'DRAINED'

Shoppers have been given a heads-up about a sophisticated online scheme that could leave victims saddled with thousands of pounds of debt "in minutes". People are being urged to protect one crucial piece of information that causes the whole scheme to crumble.

Throughout the festive season, British shoppers are expected to spend a total of £41.6 billion on presents, groceries, transport, and entertainment, according to research from Finder. Individual spending on Christmas presents alone is forecast to average out to about £514 per person in 2025.

During a recent instalment of BBC One's talkshow Morning Live, presenter and consumer champion Louise Minchin outlined how fraudsters exploit the seasonal shopping surge. Many shoppers turn to 'buy now, pay later' platforms, such as Klarna and similar services, to manage the expense of these expensive purchases.

Reports have emerged of victims having accounts drained in minutes after being targeted by these criminals. Aiming to arm BBC viewers with protective measures, the consumer expert detailed how this "persistent" scam is thought to operate, reports the Mirror.

Louise said: "Fraudsters cold call from a UK number. If you pick up, the scammer claims to be an agent from one of those buy now, pay later services saying they're calling just to check, to verify, some of the transactions on your account.

"They might say that we've noticed some unusual activity on your account. You might be a bit worried by that, for example. They say they are going to send a one-time passcode to your phone.

"What happens is that one-time passcode comes on the actual buy now, pay later service's account. And then, if you hand it over to the scammer, what happens is you are effectively giving them access to your credit on your buy now, pay later account and we've heard of people having £3,000 spent in just a few minutes."

Louise demonstrated how the scam operates, using a Klarna account as an example. She highlighted that even the one-time text alert clearly states "do not share this code".

The BBC presenter explained that fraudsters may already have access to your email address and will visit websites such as Klarna, Amazon, Very and similar platforms whilst impersonating the victim. It's understood they input that address into the website, which asks for the one-time code which came from the legitimate site.

These criminals simply utilise the 'forgotten password' function on most websites and then exploit the one-time code that victims provide, locking individuals out of their own accounts and setting up a new password.

Louise stated: "You absolutely need to protect that code." Helen Skelton commented on the advice: "It's about arming people with that information so they can shop confidently."

How to report a scam

To report a scam, contact Action Fraud. People can call 0300 123 2040 in the UK to report any sort of fraud/cybercrime, flag suspicious emails to [email protected], or forward scam texts to 7726.

If you believe you've been swindled out of money, notify your bank as soon as possible. Then, make sure to report the incident to relevant bodies such as the Financial Conduct Authority (FCA) or your local authorities, depending on where you are located.

Change passwords for all affected accounts, especially online banking, and choose strong, unique passwords. Monitor your bank accounts regularly for any suspicious transactions or unusual activity on your credit report.

2025-12-10T12:32:37Z