Martin Lewis, the founder of MoneySavingExpert, has issued a stark warning after revealing he almost fell victim to a scam yesterday. In a social media post, the consumer champion said the attempt was so convincing it nearly caught him off guard, underscoring that no one is immune to fraud. His admission comes as UK households face heightened financial strain, with energy bills averaging £1,928 per year and food prices up 4.2% year-on-year, making scam losses even more damaging.
Lewis did not disclose the exact nature of the scam but stressed that fraudsters are increasingly using personal data and urgent language to mimic trusted organisations. According to UK Finance, Britons lost £1.2 billion to scams in 2025, with a sharp rise in impersonation scams targeting utility and banking customers. The Warm Home Discount, worth £150 for eligible households, has also been a common lure, with criminals posing as energy suppliers to steal bank details.
For many households, a single scam can wipe out months of savings. Universal Credit claimants are particularly vulnerable, as fraudsters often target benefit recipients with fake ‘cost-of-living payment’ offers. Citizens Advice reports that 42% of people who reported a scam in 2025 said it worsened their financial situation, leading to missed rent or mortgage payments. The average scam loss now stands at £1,200, equivalent to nearly three months of food shopping for a family of four.
Lewis advised readers to never click on links in unsolicited messages, to verify calls by hanging up and calling the official number, and to use the 159 call service for bank scams. MoneySavingExpert’s free scam guide includes a checklist for spotting red flags, such as requests for immediate payment or threats to disconnect services. The guide also recommends setting up two-factor authentication on all financial accounts.
The financial impact extends beyond direct losses: scam victims often face higher insurance premiums and credit score damage. Housing costs, already 8% higher than in 2023, become unaffordable for those hit by fraud. Lewis urged anyone who suspects a scam to report it to Action Fraud and contact their bank immediately. ‘If it happened to me, it can happen to you,’ he said. ‘Slow down, think, and never let urgency override caution.’