Fraudsters have cashed in on the coronavirus lockdown and exploited the nation's uncertainty during the pandemic with a flood of scams, figures from Barclays show.

Frauds, which could involve anything from travel, social media and investments, went up 66 per cent in the first six months of this year, according to Barclays Bank data on reported scams from January to July 2020.

The schemes show no signs of reducing as the amount of scams were up by a further 5 per cent in July compared with the month before.

This spike in investment scams may be because people have to wait for their deal to be completed, meaning these victims do not realise they have been duped until it is too late.

Jim Winters, Barclays' head of fraud, urged people to remain vigilant as the nation takes steps to move out of lockdown.

He said: “Fraudsters have undoubtedly taken advantage of the nation's uncertainty during the pandemic, in what is just another moment in the historical evolution of scams.”

Barclays said there was an increase in campervan scams, particularly on online marketplace sites, during lockdown.

It warns that with the summer holidays in full swing, scams relating to staycations are likely to increase as Britons take advantage of the good weather to make plans closer to home.

Fraudsters have used the increased number of people who have been online during lockdown to try to keep in touch with their family and friends to target victims in social media-related scams.

Barclays says it has had reports of cryptocurrency scams during lockdown and warns this type of fraud looks set to increase.

People who have been singled out for these plots have been targeted with currency that does not exist or a bogus investment which promises to put money into a legitimate cryptocurrency.

Mr Winters said: “I would urge everyone that if they are ever in doubt and something doesn't sound right, to take the time to check it out, or get a second opinion from someone you trust.”

Customers should never feel threatened or pressurised into making an on-the-spot decision, he said.

People should check if the website they are dealing with is genuine or a cloned page, Mr Winters added.

The Financial Conduct Authority has a register that customers can use to see whether the company is authorised to provide regulated financial services.

Around 15 million households will see their gas and electricity bills reduced by up to £95 after the energy regulator reduced its price cap.

Ofgem said the new cap will mean suppliers pass on savings from lower wholesale energy prices to customers.

An average household will pay £1,042 per year for gas and electricity after the change comes into force on 1 October, Ofgem said. 

“Millions of households, many of whom face financial hardship due to the Covid-19 crisis, will see big savings on their energy bills this winter when the level of the cap is reduced,” said Ofgem chief executive Jonathan Brearley.

“They can also reduce their energy bills further by shopping around for a better deal. Ofgem will continue to protect consumers in the difficult months ahead as we work with industry and government to build a greener, fairer energy market.”

Energy prices tumbled earlier this year as demand slumped during lockdown. However, they have since begun to rise again, meaning consumers may see bills go up again when the cap is reviewed.

Ofgem’s limit applies to standard tariffs, which are often among the most expensive deals that suppliers offer.

Customers can make savings of hundreds of pounds a year by switching regularly to the cheapest tariffs available.

House prices leapt to a new high in July, in a “surprising spike” after the market was put on pause earlier this year, according to an index.

Property values jumped by 1.6 per cent, or £3,770, month-on-month on average in July, Halifax said. Across the UK, the average property value was £241,604 in July, up from £237,834 in June. House prices increased by 3.8 per cent annually.

The housing market has gradually been reopened after restrictions were imposed earlier this year as part of the coronavirus lockdown.

Russell Galley, managing director, Halifax, said: “Following four months of decline, average house prices in July experienced their greatest month-on-month increase this year, up 1.6 per cent from June and comfortably offsetting losses in 2020.

“The average house price in July is the highest it has ever been since the Halifax house price index began, 3.8 per cent higher than a year ago.

“The latest data adds to the emerging view that the market is experiencing a surprising spike post-lockdown.

“As pent-up demand from the period of lockdown is released into a largely open housing market, a low supply of available homes is helping to exert upwards pressure on house prices.

“Supported by the government’s initiative of a significant cut in stamp duty, and evidence from households and agents suggesting that confidence is currently growing, the immediate future for the housing market looks brighter than many might have expected three months ago.”

Mr Galley cautioned: “However, looking further ahead, there is still a great deal of uncertainty around the lasting impact of the pandemic.

“As government support measures come to an end, the resulting impact on the macroeconomic environment, and in turn the housing market, will start to become more apparent.