Protect your wallet: These are the top 8 items scammers target on Black Friday
- Replies 0
Black Friday is a shopping extravaganza that sees consumers worldwide hunting for the best deals.
However, as the shopping excitement escalates, so does the risk of falling prey to online scams.
With the rise in online shopping, particularly after the pandemic, fraudsters have found fertile ground to trick unsuspecting shoppers into paying for non-existent goods and services.
A recent report by Lloyds Bank revealed a worrying trend: online shopping scams surged by nearly 18 per cent during November and December last year.
The study also found that over 70 per cent of these scams originated on Meta-owned platforms, including Facebook Marketplace and Instagram.
While anyone can fall victim to these scams, the analysis found that people aged between 25 and 35 are most susceptible.
Scammers often lure victims with discounted or hard-to-find items, asking for payment via bank transfer, which offers less consumer protection than credit card transactions.
The Most Scammed Items
Certain items are more popular with scammers than others. Here’s a list of the most popular items featured in fake ads or posts:
Ms Ziegler advised shoppers to stick to trusted retailers and always pay by card for the greatest protection.
'If you’re unable to do those things, that should be a big red flag that you’re about to get scammed,' she cautioned.
A separate poll conducted by YouGov on behalf of Lloyds Bank found that nearly half (49 per cent) of the 2,000 UK adults surveyed do not trust social media companies to protect them from scams when shopping on their platforms.
However, 70 per cent believe that the responsibility of ensuring safety from scams should lie with social media firms, while only 14 per cent think it's the shopper's responsibility.
This perception could explain why almost 6 in 10 (58 per cent) say they never buy anything from social media.
Understanding Online Shopping Scams
Online shopping scams typically involve fraudsters posing as legitimate online sellers, either with a fake website or a fake ad on a genuine retail site.
The scammer entices potential buyers with attractive deals on popular items. Once the payment is made, the scammer disappears, and the buyer is left with no product and a lighter wallet.
Here are some stories of victims who fell prey to online scams:
Scammers often use social media platforms to find their victims, creating fake ads or directly messaging people with too-good-to-be-true deals.
They may also send phishing emails or texts, tricking recipients into providing personal information or payment details.
According to the Australian Competition and Consumer Commission (ACCC), tens of millions of dollars are lost to phishing scams each year in Australia alone–and the figure is still on the rise. You can read this article to learn more about phishing scams.
You can also watch our 6-part video course on how to spot online scams. You can watch Part 1 here.
If you suspect you may have been scammed, please reach out and report your experience to ACCC: https://www.scamwatch.gov.au/report-a-scam
Remember, the best defence against scams is vigilance. Stay informed about the latest scamming tactics and always exercise caution when shopping online, especially during high-traffic periods like Black Friday.
Have you ever encountered an online shopping scam, members? Share your experiences and tips for staying safe in the comments below.
However, as the shopping excitement escalates, so does the risk of falling prey to online scams.
With the rise in online shopping, particularly after the pandemic, fraudsters have found fertile ground to trick unsuspecting shoppers into paying for non-existent goods and services.
A recent report by Lloyds Bank revealed a worrying trend: online shopping scams surged by nearly 18 per cent during November and December last year.
The study also found that over 70 per cent of these scams originated on Meta-owned platforms, including Facebook Marketplace and Instagram.
A recent report revealed that online scams surged by nearly 18 per cent in November and December 2022. Credit: Seniors Discount Club
While anyone can fall victim to these scams, the analysis found that people aged between 25 and 35 are most susceptible.
Scammers often lure victims with discounted or hard-to-find items, asking for payment via bank transfer, which offers less consumer protection than credit card transactions.
The Most Scammed Items
Certain items are more popular with scammers than others. Here’s a list of the most popular items featured in fake ads or posts:
- iPhones
- Dyson Airwraps
- Nike shoes
- Ugg boots
- PlayStation 5
- Nintendo Switch
- Lego sets
- Drones
Ms Ziegler advised shoppers to stick to trusted retailers and always pay by card for the greatest protection.
'If you’re unable to do those things, that should be a big red flag that you’re about to get scammed,' she cautioned.
A separate poll conducted by YouGov on behalf of Lloyds Bank found that nearly half (49 per cent) of the 2,000 UK adults surveyed do not trust social media companies to protect them from scams when shopping on their platforms.
However, 70 per cent believe that the responsibility of ensuring safety from scams should lie with social media firms, while only 14 per cent think it's the shopper's responsibility.
This perception could explain why almost 6 in 10 (58 per cent) say they never buy anything from social media.
Understanding Online Shopping Scams
Online shopping scams typically involve fraudsters posing as legitimate online sellers, either with a fake website or a fake ad on a genuine retail site.
The scammer entices potential buyers with attractive deals on popular items. Once the payment is made, the scammer disappears, and the buyer is left with no product and a lighter wallet.
Here are some stories of victims who fell prey to online scams:
- Don't fall for it! Mecca is the latest beauty giant that's a victim of bogus Facebook and Instagram ads!
- Fake websites are on the rise! The latest victim? Domino’s
- Fake fashion retailer preys on unsuspecting shopper via Google search: ‘I wasn't aware’
- Scam Alert: Online shoppers are urged to stay vigilant against popular retailer websites
Scammers often use social media platforms to find their victims, creating fake ads or directly messaging people with too-good-to-be-true deals.
They may also send phishing emails or texts, tricking recipients into providing personal information or payment details.
According to the Australian Competition and Consumer Commission (ACCC), tens of millions of dollars are lost to phishing scams each year in Australia alone–and the figure is still on the rise. You can read this article to learn more about phishing scams.
You can also watch our 6-part video course on how to spot online scams. You can watch Part 1 here.
If you suspect you may have been scammed, please reach out and report your experience to ACCC: https://www.scamwatch.gov.au/report-a-scam
Remember, the best defence against scams is vigilance. Stay informed about the latest scamming tactics and always exercise caution when shopping online, especially during high-traffic periods like Black Friday.
Have you ever encountered an online shopping scam, members? Share your experiences and tips for staying safe in the comments below.
