The Office of Fair Trading (OFT) will be running a webchat next Tuesday, 28th February to talk about how consumers can protect themselves from scams.

The consumer watchdog's head scambuster, Mike Haley will be answering consumers' questions live online with a mystery celebrity guest.

Consumers can log on here to submit questions to the panel ahead of the chat which starts at 14.30 on Tuesday.

Consumers, will need to download Windows Media player to join the chat which forms part of the National Scam Awareness Month, being coordinated by the OFT.

The aim of the campaign is to educate consumers about the ways in which fraudsters attempt to con people.

Research carried out by the consumer watchdog revealed fraudsters target around 28 million people are every year in Britain. An estimated five million people in the UK lose money to low-cost mass-marketed scams every year, at a cost of up to £1 billion per year to the victims said the OFT.

The increasing sophistication of these scams means that it is not only the most vulnerable, such as the elderly and the needy, who end up on someone's 'sucker list'.

From lottery scams that capitalise on the need for money, clairvoyant scams which exploit people's fears, and miracle health or beauty cures, the fraudsters find all sorts of ways to prey on people. Even online dating sites are being used by fraudsters.

The OFT warned scam artists can be hard to spot as they generally sound pleasant, well spoken and kind, and they act like they want to be your friend. They are also skilled in the arts of persuasion and can be extremely persistent.

Typically they will be letting you know (via phone, email, post or even in person) that you've won a prize or stand to make a lot of money if you do what they say.

The watchdog said the tell tale signs of a scam are if they ask you for money up front, ask for your bank or other personal details, ask you to ring a premium rate phone number or buy something to get your prize.

As well as this webchat, the OFT has set up a quiz at its website illustrates some of the most common stings and how to avoid them.

It has also produced a leaflet, How to recognise a scam and a Scambusters Guide, which can be downloaded or ordered through the OFT by ringing 0800 389 3158.