ANZ reveals Mother's Day scams you need to watch out for
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As Mother's Day draws near, with its heartwarming traditions and the rush to find the perfect gift to express our love and gratitude, it's important to remember that not everyone has our best interests at heart.
ANZ has issued a timely warning about the increase in online shopping scams, particularly those that prey on the sentimentality of occasions like Mother's Day.
Jess Bottega, ANZ’s Senior Manager for Customer Protection, has highlighted the need for consumers to be extra cautious during this time.
'Scammers on social media can mask as legitimate brands or other people to trick victims into scams of many shapes and forms,' Bottega warned.
The Australian Competition and Consumer Commission (ACCC) has reported a worrying 30.6 per cent increase in social media scam reports, with financial losses soaring to $93 million in 2023, up by 16.5 per cent from the previous year.
It's a staggering figure, and according to ANZ customer data, over three-quarters of these scams originated from social platforms.
In response to this growing threat, ANZ has been proactive in protecting consumers, successfully blocking more than $106 million in potential losses due to cyber scams last year.
This represented a 38 per cent increase in prevention compared to the previous year.
Despite these efforts, ScamWatch statistics revealed that Australians lost over $650,000 to online shopping scams in the first two months of 2024 alone.
While this figure is a 36 per cent decrease from the same period in 2023, it's still a significant amount of money lost to fraudulent activities.
To help you stay safe while shopping online for Mother's Day gifts, ANZ and security experts recommended several strategies:
Have you or someone you know encountered a scam while shopping for Mother's Day? Share your experiences in the comments below.
ANZ has issued a timely warning about the increase in online shopping scams, particularly those that prey on the sentimentality of occasions like Mother's Day.
Jess Bottega, ANZ’s Senior Manager for Customer Protection, has highlighted the need for consumers to be extra cautious during this time.
'Scammers on social media can mask as legitimate brands or other people to trick victims into scams of many shapes and forms,' Bottega warned.
ANZ cautioned shoppers to be more cautious when shopping on Mother’s Day. Credit: Shutterstock
The Australian Competition and Consumer Commission (ACCC) has reported a worrying 30.6 per cent increase in social media scam reports, with financial losses soaring to $93 million in 2023, up by 16.5 per cent from the previous year.
It's a staggering figure, and according to ANZ customer data, over three-quarters of these scams originated from social platforms.
In response to this growing threat, ANZ has been proactive in protecting consumers, successfully blocking more than $106 million in potential losses due to cyber scams last year.
This represented a 38 per cent increase in prevention compared to the previous year.
Despite these efforts, ScamWatch statistics revealed that Australians lost over $650,000 to online shopping scams in the first two months of 2024 alone.
While this figure is a 36 per cent decrease from the same period in 2023, it's still a significant amount of money lost to fraudulent activities.
To help you stay safe while shopping online for Mother's Day gifts, ANZ and security experts recommended several strategies:
- Don't open social media links that might take you to fake or counterfeit websites designed to ask for personal data.
- Check if online shop links are authentic, and do independent research before buying.
- Read what other customers say about unfamiliar online stores.
- Be careful with how you pay online, especially unconventional payment methods like direct bank transfers or gift card payments.
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