Impersonation scams on Instagram have risen in recent months, while those taking place on Snapchat and Facebook have dropped, according to Lloyds Bank.

Reports of impersonation fraud originating on Instagram jumped 155 per cent in the 12 months to March, when compared to the previous year.

Lloyds said Instagram is fast becoming the new battleground between the public and organised criminal gangs who commit fraud on a mass scale.

Liz Ziegler, fraud prevention director at Lloyds Bank, said: "Social media is now intimately woven into our lives - it's how we stay in touch with people, see what's in the news, treat ourselves to something new and keep up with influencers.

"Sophisticated organised criminal gangs know this, and are ready to adapt their deceptive methods instantly, lurking around every virtual corner to try and part you from your hard earned cash.

"These nasty impersonation scams target people's natural desire to help family and friends as, instead of impersonating the police or the taxman, fraudsters are creeping closer to home and pretending to be those dearest to you.

"When using social media we should all remain guarded, be vigilant against fraud attempts, and remember that if something seems fishy - you're probably right."