Though the holiday season is a time for giving and celebration, the international desire to rush out and buy new stuff on Black Friday is both the chance for making savings for the consumer, and the opportunity for making money for the fraudster. Some of the tips for staying safe online are particularly relevant when we can become so blinded by the opportunity for a bargain, that we bypass our common sense and everything we have ever been taught about staying safe online.
The potential savings of a deal could, unfortunately, cost far more in the long run. Recent figures from the NCSC and Action Fraud show that scammers took an average of £695 from each victim between November 2023 and January 2024.1 This underscores the importance of remaining vigilant, especially as UK consumers are expected to spend around £9bn over the sales weekend in 2024, with much of this occurring online.2 With such a huge number of transactions taking place, the opportunity for cyber criminals to take advantage of consumers and businesses is heightened, as people allow urgency and potential savings to cloud their judgement.
Barclays report that fewer than half of consumers conduct a check prior to making a purchase on Black Friday. Statistics point to an overconfidence in shoppers believing that they can spot a scam, with 84% of shoppers believing they can identify potential a potentially fraudulent deal - yet 54% falling victim to a scam of some sort.3
With 54% of shoppers falling victim to some kind of fraud, even 0.5% of those falling victim could mean the opportunity for thieves to make in excess of £45m.3 This is a high stakes game for UK banks and credit card companies, for whom there is a responsibility to protect consumers; losses of this size cannot be absorbed indefinitely, and banking organisations are seeking to shift responsibility to the consumer.
Just as you would heighten your awareness of crime in a new country, or a new city, just consider becoming a little more aware of some of the tricks that are likely to be used by criminals during the pre-Christmas sales.
Online marketplaces integrated into social platforms, such as those found on Facebook, eBay, and Gumtree, attract millions of users every month, making them a convenient place to buy and sell. However, these platforms are also frequently misused by fraudsters who target both buyers and sellers.
Common tactics include creating fake profiles, providing counterfeit payment confirmations, or running "courier collection" scams, where victims are tricked into paying bogus insurance or delivery fees. These scams can be particularly hard to detect, as they often exploit the trust and convenience associated with these popular platforms.
That link to a “special deal” on an air fryer might not lead where you think it does. Spoofed websites can mimic legitimate brands, luring you into providing payment details or login credentials. Even property rental ads are being faked and spoofed to trick trusting humans. Before you hurry to log in and take advantage, just draw breath, and think.
If there is any doubt, think twice, and ensure you visit the genuine site by typing the address into the address bar in your chosen browser.
Account Verification scams often accompany spoofed sites, with messages urging you to “verify your account” to secure a deal or improve your account’s security.
“In order to keep you safe and reduce fraud, and take advantage of our Black Friday deals, [Insert site name] now need you to opt-in and confirm your email address.”
Whilst that is just one example, the scammers put pressure on you, or plant the seeds of doubt, with a fairly convincing tale – often citing security concerns! Do the usual due diligence on those emails, checking for the tell-tale signs of phishing – look for typos, generic greetings, irregular domain names that don’t align with the brand, and the sense of urgency – this should ring alarm bells.
The madness around Black Friday and Cyber Monday, particularly when paired with urgency and greed, create the perfect conditions for the unthinking moment.
“I just need to quickly confirm my account to get this [insert attractive item] at a heavily reduced priced”.
If you re-use passwords, this is a particularly dangerous kind of fraud to fall for – consider using a password manager and unique complex passwords for each website and online resource you use to protect your online identity.
In addition to using unique complex passwords, always use multi factor authentication if your account offers it, especially for banking sites including PayPal, and the likes of Amazon, as well as your email accounts.
Fraudsters can create convincing online stores in a matter of hours, complete with flashy Google Ads to appear in top search results. These sites might take your money or worse, your credit card details without ever delivering the product.
Black Friday and Cyber Monday create the perfect storm for scams, fueled by urgency and the allure of a bargain.
Stay vigilant, take your time, and don’t let the promise of a great deal compromise your security.
And remember, if you’re shopping for that tech-savvy relative who claims they “don’t want anything,” consider gifting them a VPN or password manager service. It’s the gift that keeps on giving.
1 https://www.infosecurity-magazine.com/news/ncsc-warns-uk-shoppers-lost-115m/
2 https://www.statista.com/topics/5849/black-friday-in-the-uk/#topicOverview
4 https://www.moneysavingexpert.com/reclaim/section75-protect-your-purchases/