Which? is warning consumers about some of the most convincing scams it has seen this year including fraud carried out on PayPal.

According to the organisation, fraud now accounts for two in five of all reported crime incidents.

The consumer champion called for consumers to watch out for ‘pig butchering’, given this name by scammers because of the method’s tendency to “fatten up” victims by building romantic connections prior to carrying out an investment scam.

The victim is usually approached on a dating site and “love-bombed” – a method by which someone uses affection to manipulate or gain influence over another person – after which they are encouraged to move to a private messaging service, removing any protection the dating site offers. The fraudster then encourages the victim to send money for fake investment opportunities in property or cryptocurrency.

Which? said that one UK victim, a former Somerset police officer, lost £107,000 to a scam after believing she was investing in retirement apartments in Cyprus.

The organisation also warned of PayPal scams which start with a request for money from a genuine PayPal email address. These requests are often for high-value items or appear to be from HMRC demanding tax payments. In other cases, a fake invoice states the victim’s PayPal account has been compromised and urges them to call a fake fraud hotline.

Research from Which? found that it was easy to replicate scam emails from a genuine PayPal address. The watchdog warns that consumers should independently verify what is being asked of them by contacting the tax office via gov.uk and not to call phone numbers in invoices.

Responding to the findings, PayPal said it has a ‘zero-tolerance policy’ on fraud attempts and its teams work ‘tirelessly’ to protect customers, adding that it is introducing fraud warnings to invoices and money requests.

“We are aware of this phishing scam and encourage customers to always be vigilant online and to contact Customer Service directly if they suspect they are a target of a scam,” PayPal said.

Commenting on the news Lisa Barber, Which? tech editor, said: “It’s appalling that 2023 has seen scammers continuing to thrive, as a new wave of convincing scams bombards consumers from every direction. The sad theme of all these scams is that tech platforms – whether social media, app stores or payment services – don’t always keep you safe.”

She added: “Responsibility should not fall solely on the shoulders of consumers. Tech platforms and the government need to up their game and better prevent scammers reaching potential victims.”

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