The Office of Fair Trading today launched a campaign warning consumers how to spot the telltale signs of a scam.

It began distributing more than half a million leaflets and posters giving advice on the most common rip-offs, including telephone lottery scams and prize draw mailshots.

The OFT has declared February scam awareness month in an attempt to stem the estimated £1bn lost annually by UK consumers to a variety of schemes.

Consumers were warned that, if they fell for one scam, their details were likely to be sold on to other criminals - meaning they would be targeted again. The OFT said lists of names and addresses were easily bought and sold.

It said most scams had common elements designed to lure victims. These include catching people unaware by making unsolicited contact via email, telephone or post, offering easy opportunities to make money and asking for bank details or for victims to ring a premium rate number.

Scammers also ask for money up front for claiming a prize to cover administration fees or taxes. No legitimate competition does this, the OFT said. Its leaflets and posters are being distributed through libraries, community groups and police stations, as well as door to door.

"Last week, we named the top 10 scams targeted at UK consumers, but next year there will be new frauds and swindles to part people from their money," Penny Boys, the executive director of the OFT, said.

"Our campaign aims to equip consumers with the skills and knowledge to recognise scams, whatever their form, and so prevent themselves and others from falling victim to persuasive and manipulative approaches." The OFT advises consumers to be sceptical, to not send money or give out personal details to anyone until they have verified them, and to contact the authorities for advice.

Last week, the office warned of these top ten scams:

Telephone lottery scams: These include the Canadian lottery scam and the El Gordo Spanish lottery scam, which deceptively use the name of a genuine lottery. People respond to an unsolicited mailing or telephone call telling them they are being entered into a prize draw. They then receive a telephone call congratulating them on winning a big prize - but saying that before they can claim their winnings, they must send money to pay for taxes and processing fees. The prizes do not exist.