Martin Lewis issues warning to all Brits over scam that’s ‘ruining people’s lives’

Martin Lewis has issued another urgent warning that could save people thousands.

The Money Saving expert is always at hand to offer the masses his expertise and guidance, and today is no different.

From bills and phone contracts to holiday deals and petrol prices, Sir Martin is the go-to for financial info.

And he's now warning us all to be on guard for scam ads doing the rounds online.

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Fake offers are nothing new, though they've become more prevalent in the digital age, but Martin says they're getting much more sophisticated and could cost you a lot.

Taking to X, he told his followers: "Scam ads are a scourge on society. The resulting frauds can destroy peoples financial lives, self esteem and mental health.

"I have the dubious compliment of being the most scammed face in the UK."

Martin and his team have been campaigning for new legislation to combat these scams, which, according to Ofcom, have affected nine out of 10 Brits.

Suckered in by the seemingly legit ad, people quickly fall int a trap, and before they know it, they've handed over all their savings.

The good news is, says Martin, the Online Safety Bill has become law, offering protection for people from these scams, with sites required to remove them.

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"For years MSE and I have campaigned to get stronger laws to force social media firms, including here on X (though in my experience Facebook is even worse) to clamp down on these adverts they're PAID to publish," Martin said.

"Originally the government wasn't going to put this in its Online Safety Bill, we fought hard, got it in, and finally last week that bill (which has many other elements, some controversial) was made law."

"I hope this will start to reduce the number of scams."

The financial whizz isn't under any illusions that this is the silver bullet, though, but says it's a 'good step in the right direction'.

But if that wasn't enough, Martin recently shared a top tip that could save people thousands.

Just in the last tax year, over one million people overpaid a specific loan and he revealed how to check if you can be reimbursed.

The loan in question is the government student loan, which students don’t have to pay back if they earn under a specific threshold - with most who paying back from their wages via direct debit every month.

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However, that isn't all that is said and done.

A Freedom of Information request sent off by the MoneySavingExpert.com revealed that 100,000 people have unclaimed money waiting for them from their student loan.

The good news, however, is there is a relatively easy way to check and find out if you’re owed money.

According to MoneySavingExpert.com, you should first go to the government website and sign into your student loan account.

If you have money left to pay, it will show up on your account but it will also tell you if you’re owed any too.

If the case is that you are owed money back, give your student loans provider a call and they will be able to help you out.

It is also recommended to have your old payslips, payroll number and PAYE reference number at hand for a smoother process.