Black Friday and Cyber Monday have become highlights of the shopping calendar, with consumers worldwide eager to take advantage of discounts and secure the best deals for festive gifts.
However, this surge in online purchasing activity has also presented a prime opportunity for scammers. Each year, many unsuspecting shoppers fall victim to fraud, often losing money or compromising their personal information in the process.
In this blog post, we will discuss how prevalent online scams are around Black Friday, the tactics commonly used by cybercriminals, and offer practical advice to help you shop safely and securely.
1. How prevalent are online scams on Black Friday and Cyber Monday?
We all appreciate a good bargain, and in the current economic climate, finding the perfect Christmas gifts at the best possible price has become a necessity for many.
However, the UK’s cyber security and law enforcement authorities have recently issued an urgent alert to Black Friday bargain hunters, highlighting a concerning rise in losses to online scammers during the festive shopping season.
The volume of irregular online shoppers increases significantly around Black Friday and continues into the new year. Unfortunately, their lack of experience with online purchasing makes them much more vulnerable to scams, which is why we often see a noticeable difference around this time of year.
Between Black Friday 2023 and the January sales in 2024, UK consumers collectively lost an estimated £11 million to online fraud. The average victim lost approximately £695, with items ranging from clothing and high-end technology to even car purchases being targeted by criminals.
It has been revealed by Action Fraud that:
- 7,168 reports of fraud (43%) mentioned a social media platform.
- 18.9% of reports mentioned an online marketplace.
The figures also revealed that those aged 30-39 submitted the largest number of reports (23%), closely followed by 40–49-year-olds (20%). The average age of victims was 42.
2. What scams are catching people out?
Social media “deals” are among the most common scams, with nearly half of all reports involving a social media platform. These ads and campaigns often exploit unconscious biases, encouraging interaction and driving purchases directly on the platform. These include:
- Time-limited offers: Urging quick decisions without full consideration.
- False scarcity: Advertising products as being in extremely limited supply to create a sense of urgency.
- Trusted associations: Misusing well-known brands, products, or celebrities to give credibility to scams.
- Streamlined payments: Using methods like Apple Pay to minimise the time available to reconsider a purchase.
- Fake accounts: Creating profiles that appear authentic to deceive consumers.
The impact can be devastating. Believing you’ve purchased the perfect gift, only to discover it doesn’t arrive or is vastly different from what you expected, is distressing enough. However, the situation can escalate further if cybercriminals gain access to your credit card or bank details, leaving you vulnerable to significant financial problems.
3. Our advice for online shoppers
When shopping online, it’s crucial to trust your instincts. If something about a website or deal feels off, don’t ignore that uneasy feeling, pause and take a closer look. If an offer seems too good to be true, it probably is. Scammers often rely on urgency and attractive deals to catch people off guard, so taking a moment to reassess can make all the difference.
Here are some key steps to protecting yourself from online scams:
- Avoid suspicious links: If you encounter any links that you think may be illegitimate, don’t click on them. They could lead to malicious websites or phishing attempts.
- Research thoroughly: Look up the company or seller on trusted review platforms. Genuine customer reviews can provide valuable insights into their reliability.
- Avoid buying directly from social media: Stick to reputable and secure websites for your purchases to minimise risks.
- Enable two-step verification: Safeguard your accounts, particularly those linked to banking or payment methods. Two-step verification adds an extra layer of protection, requiring an additional passcode or password for transactions. Learn how to turn on two-step verification here.
If you suspect you’ve encountered a scam, it’s important to report it. You can file a report with Action Fraud here. Reporting scams helps protect others and raises awareness about potential threats.
Staying vigilant when shopping online is essential, especially during high-pressure sales events like Black Friday. If you’re unsure about the legitimacy of a deal or need guidance on safe online practices, don’t hesitate to seek support.
For further advice on protecting yourself from scammers, you can check out our blog on creating strong passwords to ensure your accounts are secure.
By taking small but significant steps, you can shop with confidence and avoid falling victim to scams this holiday season.
Remember, it’s always better to pause and verify than to risk being caught out. Stay safe and shop smart!
