The biggest shopping day of the year is almost here. But it’s also the year’s biggest honeypot for scammers. Keep your wits about you this Black Friday and keep your money and information safe.
With cost-of-living pressures biting everyone, more people are going to be hunting for a bargain this Black Friday than ever. Roy Morgan estimates Aussies will spend a record $6.7 billion across the Black Friday and Cyber Monday sales this year.
Unfortunately, scam and fraud activity is also at an all-time high, and all that spending is an irresistible target for criminals.
HSBC’s head of fraud mitigation, Matt Hannan, says consumers need to be smart this sale season to avoid becoming the unwitting victim of a scam.
“As cost of living continues to weigh on people’s minds and pockets, picking up a bargain is tempting for many of us,” he says.
“People need to be extra vigilant when shopping, especially if you see a deal that seems too good to be true. It’s worth taking a moment to check who you’re dealing with online before parting with your money and your personal information.”
Mr Hannan says to keep the following tips in mind when shopping this Black Friday.
Shop only on trusted websites
Stick to familiar, reputable retailers you’ve shopped from before or large online marketplaces such as eBay or Gumtree.
Scammers often create fake websites that look legitimate but are really intended to capture your information or steal your money.
Mr Hannan says there are a few easy ways to check if you’re dealing with a legitimate merchant, for example by checking the website address and reading online reviews for the company.
Avoid too good to be true deals
The old saying, ‘if a deal sounds too good to be true, it probably is’ has never been more pertinent than it is today. A common scam tactic is to use ultra-low prices to lure in unsuspecting victims.
If you find a bargain that fits that description, make sure to compare prices for the item on multiple websites to get a sense of what is reasonable.
Be wary of phishing emails and texts
Black Friday and Cyber Monday sales are a prime target for phishing emails offering ‘limited time offers’.
Mr Hannan advises to double-check the sender’s email address to make sure it belongs to the business and doesn’t contain any strange letters or symbols, and to never click links or download attachments from unknown senders.
Limit information shared online
Avoid entering any more personal information than necessary at checkout. Legitimate retailers will not ask for personal details beyond standard payment information.
“There are some great bargains on offer during Black Friday and Cyber Monday, but vigilance is important to stay safe from becoming a scam victim,” says Mr Hannan.
“If something feels off or rushed, it’s best to take a step back before going ahead with the purchase. If you have made a transaction and believe it is fraudulent, contact your bank immediately using the contact details on their website.”
What will you be buying this Black Friday and Cyber Monday? Have you ever been the victim of a shopping scam? Let us know in the comments section below.
Also read: Black Friday TV sale warning for consumers
The whole Black Friday Sales thing is yet another example of our country slavishly latching onto American trends that have nothing to do with us apart from persuading people to buy stuff that they don’t need with money that they don’t have. The Black Friday sales began in the US to encourage people to shop after Thanksgiving Day Thursday- retailers coined the term Black Friday as sales were always down on that day. We don’t celebrate Thanksgiving Day here so Black Friday sales are irrelevant but no matter- as long as someone’s making money. Retailers have already convinced us that we need to buy Chinese-made rubbish to celebrate a Northern Hemisphere tradition i.e. Halloween so it’ll be no surprise when we start celebrating U.S. Independence Day!! We already have our big tvs and a smartphone so if our retailers wanted to do something really useful, how about offering 50% reductions on food shopping!!