WHAT'S the most likely way you'll come into contact with a fraudster trying to trick you out of your hard-earned cash?

Well, new research by Citizens Advice suggests it could be by answering the phone.

The findings have been released to mark Scams Awareness Month, which runs throughout July.

Citizens Advice analysed more than 20,000 scams between April 2014 and March 2015 to reveal common tactics used by fraudsters.

Two in five - 41% - scams reported to the service started with a cold call - making this the most common method of con reported to the charity.

Different types of scam also tended to use different methods of contacting people: :: More than one third of cold call scams reported to the charity were for "professional and financial services".

Meanwhile, two in five of all postal scams seen by Citizens Advice pretended to be lotteries or prize draws, inviting people to claim a prize for a competition they hadn't entered.

Citizens Advice heard from one caller who reported that a relative had parted with more than £10,000 in fees to claim a prize that did not exist.

Four out of five doorstep scams examined by the charity involved offers of home improvements or household services, including offers around central heating, insulation, roofing and people posing as tree surgeons.

In one case, a man spent £300 to have the pointing fixed on his roof - only for no work to be carried out.

Two in five internet scams analysed by Citizens Advice involved personal goods and services, including cosmetics that never arrived. The charity heard from one woman who tried a 'free trial' of slimming pills, only to find that £200 had been taken from her account.

Nearly half - 46% - of all scam reports were made by people aged over 55.

Some scams may be prompted by fraudsters exploiting certain events as well, for example, people approaching retirement have been warned to watch out for scam attempts in the wake of the new pension freedoms, launched in April.

In one case a 54-year-old woman received a cold call offering to release money from her pension pot - and she narrowly avoided losing £30,000.

Andrew Warwick-Thompson, of the Pensions Regulator, which is working to disrupt pension scams, says the message is clear: "Check the facts before you make an irreversible decision - a lifetime's savings could be lost in a moment."

Another scam which crops up around now is a slew of emails, fake websites and text messages targeting tax credit claimants in the run-up to the July 31 renewals deadline.

HM Revenue and Customs (HMRC) says that they had nearly 51,000 fake "phishing" emails reported between April and July 2014 - which is double the number reported a year earlier.

People are often asked by fraudsters to provide personal details by email - which is something HMRC would not request.

According to Financial Fraud Action UK (FFA UK), one particularly widespread phone scam involves victims being tricked into transferring money directly from their own bank account into the fraudsters'.

A total of £23.6 million was lost this way across the UK during 2014, with criminals calling their victim and pretending to be from their bank, although there are variations.

The criminal will convince the victim fraud has been detected on their bank account and push them to act fast by moving their money into a "safe account" or risk losing their savings.

FFA UK has been working with Neighbourhood Watch to highlight warnings about phone scams.

Katy Worobec, director of FFA UK, warns: "Whenever you get a phone call out of the blue, even if the caller claims to be from a trusted organisation, it's important to be on your guard.

"These phone fraudsters can sound very professional, but by knowing the warning signs you can stay safe.

"Remember - your bank or the police will never call you to ask for your four digit Pin or your online banking password, or for you to transfer money to a new account for fraud reasons - anyone asking you to do so is a fraudster."

For more information about Scams Awareness Month, which is also being supported by Trading Standards, visit www.citizensadvice.org.uk

Here are some of the methods highlighted by Financial Fraud Action UK:

  • A criminal phones you purporting to be from the police. They claim they are carrying out an investigation into suspected fraudulent activity at your bank branch, often claiming there is counterfeit currency being used.

They ask you to help by going into the branch and withdrawing money over the counter. They will claim that money will be placed in your account to cover the cost. The fraudster will ask you to seal the notes in a bag and then send a courier to collect the cash.

  • A scammer pretends to be from a utility company.

They claim you have missed payments and your supply will be cut off unless you make an instant payment to them.

  • A fraudster claims to be from an organisation that you make regular payments to and asks you to change the payment details as they have a new bank account.

The account is controlled by the fraudster, who steals the money transferred.

If someone thinks they may have fallen victim to fraud, they should contact their bank immediately and report it to Action Fraud- the UK's reporting centre for fraud and internet crime - by calling 0300 123 2040.

  • If you're in any doubt, just hang up.