With Black Friday fast approaching, your inbox might already be filling with one-off deals, discounts, and offers ahead of the big day on the 28th.
But while the growing phenomenon can be a dream come true for bargain hunters, it’s also being used by fraudsters looking to cash in on the shopping frenzy in a trend experts are calling ‘Black Fraud Day’. Some scammers are even creating fake websites that mirror legitimate retailers, but with one major difference: the goods never arrive.
Thankfully, there are steps you can take to protect yourself and your pennies this shopping season. From spotting suspicious offers to recognising unsafe payment methods, here are some things to look out for before clicking ‘Buy Now’ this Black Friday:
Use strong, unique passwords
If you’re an avid online shopper, you probably already have accounts with most of your favourite retailers. But without a strong password, you could be making it easy for cybercriminals to access your sensitive information, including your bank details. Your password is your first line of defence against fraud, so make it count.
Make sure to use a mix of letters, numbers, and symbols, and avoid using the same password across all your accounts. The stronger your password, the harder it will be for hackers to crack!
Be aware of unrealistically low prices
If the price of an item seems unrealistically low compared to other retailers, it’s probably too good to be true. Scammers often offer the lowest prices in an attempt to lure shoppers in before fleeing with their money and shutting the site down shortly after.
You might think you’ve bagged a bargain, but chances are you’ll never actually see the item you purchased. The time-sensitive nature of Black Friday can also make you feel pressured into making a purchase, but a quick search could confirm your suspicions.
Identity unsecure payment methods
As well as how much you pay, you should be cautious about how you pay. Fraudsters often push unusual payment methods, such as direct bank transfers and cryptocurrency, which offer little to no buyer protection and are commonly used by crime groups to move stolen funds. This means that, once you’ve parted with the money, it will be almost impossible to get it back.
Stick with trusted payment methods, such as credit or debit cards, and look out for ‘https://’ in the URL to confirm the connection is encrypted and your data is protected.
Stay safe on social media
A growing number of people are turning to social media as the starting point for their online shopping journey. In fact, TikTok Shop sales are now on par with eBay, with the video-sharing app generating $19 billion between July and September this year – just $1.1 billion shy of eBay, despite launching almost three decades later.
However, with fewer buyer protections, it’s also becoming a popular way for scammers to trick shoppers into sending money to fake profiles or paying for goods that don’t exist. To stay safe while shopping on social media, only buy from established brands and never share payment details before verifying that the seller – and the product – are genuine.
