Protect your wallet: Some Black Friday & Cyber Monday scams you need to watch out for!
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As the calendar pages turn and we find ourselves approaching the end of the year, the excitement for the holiday season is palpable.
But with the festive cheer also comes the biggest shopping event on the Aussie retail calendar: Black Friday and Cyber Monday. These days are synonymous with massive sales and the chance to snag some incredible deals.
However, it's also a prime time for less-than-scrupulous individuals to take advantage of eager shoppers.
Here at the Seniors Discount Club, we want to ensure that your bargain hunting doesn't turn into a financial headache. So, let's dive into how you can protect your wallet from the scams that are all too common during these sales.
Firstly, it's important to understand the scale of the issue. Research by ING suggests that shoppers are projected to spend a staggering $12.7 billion during the sales next weekend.
With such a significant amount of money changing hands, it's no wonder that scammers are on high alert, ready to pounce.
Technology and clothing items, being the most popular sales categories, are particularly at risk.
Scamwatch's Scam Statistics dashboard has reported about 12,400 online shopping scams so far in 2024, with losses exceeding $3.4 million.
These numbers are not just statistics; they represent real people who have been duped out of their hard-earned money.
ING's Head of Consumer and Market Insights, Matt Bowen, highlighted last year the prevalence of scams during the festive sales period, with 1.4 million Aussies having been scammed in the past.
‘As we head into the Black Friday sales period, it’s important to stay vigilant to common scams that could turn savings into nightmares, especially as many scammers look to capitalise on Aussies hunting for a good deal,’ he cautioned.
Cyber security and organised scams are a ‘significant challenge’ for both consumers and businesses throughout the year.
Still, Fleur Brown, the Australian Retailers Association's Chief Industry Affairs Officer, noted that these issues can worsen during the sales period.
‘We know that increased online activity comes with an increased risk of cybercrime,’ she stated.
‘As always when buying online, it’s important to do your research.’
‘We advise shoppers to stick to well-known retailers on websites you trust, to use secure payment methods, to avoid obvious “too good to be true” deals and to refrain from clicking on suspicious links in emails or texts,’ Ms Brown added.
So, what are the tell-tale signs to watch out for? ScamWatch shared some pointers to determine a fake website:
According to Mandy Rutherford, Westpac’s Managing Director of Cash and Transactional Banking, distinguishing between a genuine discount and one that’s too good to be true can be challenging.
Scammers often go to great lengths to make their websites appear like legitimate online stores of well-known Australian brands.
They may use professional designs, stolen logos, and even fake ‘.com.au’ domain names along with a stolen Australian Business Number (ABN).
These fraudulent sites frequently offer luxury items at unusually low prices. Shoppers might receive the item they ordered, but it could be counterfeit, or they might end up receiving nothing at all.
Ms Rutherford encouraged consumers to ‘plan your purchases and pause before you buy, to ensure that they are within your budget and you are buying from a reputable retailer’.
Westpac also advised shoppers to carefully consider online purchases, particularly those made through social media or online marketplaces, to ensure they’re buying from a reputable source.
They recommended looking for warning signs, such as spelling errors and the seller's reputation and reviews and suggested using Google to verify product images. Additionally, shoppers should always use secure payment methods.
Mr Bowen from ING provided similar guidance, advising shoppers to confirm deals through official sources and to carefully check email addresses for authenticity.
‘Stay alert for fake websites, and remember, if a deal seems too good to be true, it probably is,’ he reminded.
Scamwatch advised Australians to follow its ‘stop, check, protect’ method to recognise and steer clear of scams.
As Australians gear up for the Black Friday and Cyber Monday sales, the excitement of snagging a great deal can often overshadow the need for caution.
Amidst the flurry of discounts and promotions, shoppers are being warned to stay vigilant against potential scams that could turn their bargain hunt into a costly mistake.
Transitioning from the risks of online shopping during this period, it's equally important to focus on smart shopping strategies to make the most of the sales while protecting your finances.
We'd love to hear from you, our savvy senior shoppers. Have you ever encountered a scam during the Black Friday or Cyber Monday sales? How do you protect yourself from falling victim to these schemes? Share your experiences and tips in the comments below to help your fellow members stay informed and protected. Happy (and safe) shopping!
But with the festive cheer also comes the biggest shopping event on the Aussie retail calendar: Black Friday and Cyber Monday. These days are synonymous with massive sales and the chance to snag some incredible deals.
However, it's also a prime time for less-than-scrupulous individuals to take advantage of eager shoppers.
Here at the Seniors Discount Club, we want to ensure that your bargain hunting doesn't turn into a financial headache. So, let's dive into how you can protect your wallet from the scams that are all too common during these sales.
Firstly, it's important to understand the scale of the issue. Research by ING suggests that shoppers are projected to spend a staggering $12.7 billion during the sales next weekend.
With such a significant amount of money changing hands, it's no wonder that scammers are on high alert, ready to pounce.
Technology and clothing items, being the most popular sales categories, are particularly at risk.
Scamwatch's Scam Statistics dashboard has reported about 12,400 online shopping scams so far in 2024, with losses exceeding $3.4 million.
These numbers are not just statistics; they represent real people who have been duped out of their hard-earned money.
Aussie consumers are urged to stay vigilant against scams during the Black Friday and Cyber Monday sales. Credit: Shutterstock
ING's Head of Consumer and Market Insights, Matt Bowen, highlighted last year the prevalence of scams during the festive sales period, with 1.4 million Aussies having been scammed in the past.
‘As we head into the Black Friday sales period, it’s important to stay vigilant to common scams that could turn savings into nightmares, especially as many scammers look to capitalise on Aussies hunting for a good deal,’ he cautioned.
Cyber security and organised scams are a ‘significant challenge’ for both consumers and businesses throughout the year.
Still, Fleur Brown, the Australian Retailers Association's Chief Industry Affairs Officer, noted that these issues can worsen during the sales period.
‘We know that increased online activity comes with an increased risk of cybercrime,’ she stated.
‘As always when buying online, it’s important to do your research.’
‘We advise shoppers to stick to well-known retailers on websites you trust, to use secure payment methods, to avoid obvious “too good to be true” deals and to refrain from clicking on suspicious links in emails or texts,’ Ms Brown added.
So, what are the tell-tale signs to watch out for? ScamWatch shared some pointers to determine a fake website:
- The website’s address isn't secure. When shopping online, always check for ‘https’ (not just ‘http’) and the padlock icon in the address bar to ensure a secure connection. However, keep in mind that some scam websites also use https.
- The deal creates urgency. Scammers often try to pressure you into acting quickly. Take your time, do your research, and verify the legitimacy of the website.
- The deal seems too good to be true. While the price might be tempting, remember that scams often offer unrealistically good deals.
- The website uses non-secure payment methods. Be cautious about how you're asked to pay. Scammers typically use methods like wire transfers, money orders, or cryptocurrencies such as Bitcoin, which are hard to trace and rarely lead to recovered funds. Always opt for secure payment methods like PayPal or credit cards.
According to Mandy Rutherford, Westpac’s Managing Director of Cash and Transactional Banking, distinguishing between a genuine discount and one that’s too good to be true can be challenging.
Scammers often go to great lengths to make their websites appear like legitimate online stores of well-known Australian brands.
They may use professional designs, stolen logos, and even fake ‘.com.au’ domain names along with a stolen Australian Business Number (ABN).
These fraudulent sites frequently offer luxury items at unusually low prices. Shoppers might receive the item they ordered, but it could be counterfeit, or they might end up receiving nothing at all.
Ms Rutherford encouraged consumers to ‘plan your purchases and pause before you buy, to ensure that they are within your budget and you are buying from a reputable retailer’.
Westpac also advised shoppers to carefully consider online purchases, particularly those made through social media or online marketplaces, to ensure they’re buying from a reputable source.
They recommended looking for warning signs, such as spelling errors and the seller's reputation and reviews and suggested using Google to verify product images. Additionally, shoppers should always use secure payment methods.
Mr Bowen from ING provided similar guidance, advising shoppers to confirm deals through official sources and to carefully check email addresses for authenticity.
‘Stay alert for fake websites, and remember, if a deal seems too good to be true, it probably is,’ he reminded.
Scamwatch advised Australians to follow its ‘stop, check, protect’ method to recognise and steer clear of scams.
- Stop: If you're uncertain, avoid giving out money or personal details. Simply decline, hang up, or delete the communication.
- Check: Scammers often pose as trusted organisations. If you're unsure, contact the official phone number of the organisation to verify.
- Protect: If you've been scammed, contact your bank or card provider right away to report the incident and prevent further transactions. Notify the digital platform where the scam occurred to help remove the content, and report it to scamwatch.gov.au.
As Australians gear up for the Black Friday and Cyber Monday sales, the excitement of snagging a great deal can often overshadow the need for caution.
Amidst the flurry of discounts and promotions, shoppers are being warned to stay vigilant against potential scams that could turn their bargain hunt into a costly mistake.
Transitioning from the risks of online shopping during this period, it's equally important to focus on smart shopping strategies to make the most of the sales while protecting your finances.
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