Black Friday is one of the most significant shopping days of the year, and unfortunately, it is frequently targeted by internet scammers.
The event began in the United States as a follow-up promotion to Thanksgiving, and it became famous for frantic scenes of people actually ‘falling over each other’ in crowded stores to acquire the greatest prices.
As individuals increasingly shop online for the best deals, internet scammers are known to use a range of tricks and strategies to defraud unsuspecting customers.
According to LexisNexis Risk Solutions, there are numerous things you can look out for to avoid falling prey to a Black Friday scam, and they are the following:
‘Incorrect bank information’ Emails
This scam typically involves an email from someone posing as an online store, claiming that there was a problem with a previous transaction and that your bank account information needs to be updated. These emails will often include a link to a scammer-created website where you will be requested to enter your credit card and bank information.
However, if you enter your banking information on this link, you could lose a lot of money if criminals start making fraudulent transactions on your account. If you receive an email that appears to be from a merchant and claims you have provided incorrect information, phone them to double-check, and never assume it is legitimate.
Purchase scams
Purchase scams occur when advertised products are paid for but never arrive. Criminals frequently offer low-priced technology such as phones or computers around Black Friday in order to lure buyers. They then urge them to make bank transfers, only to vanish after the money is transferred.
According to a recent survey by the banking industry group UK Finance, more than a quarter of parents have been duped by purchase scams, and only 25% indicated they always investigate suppliers before buying. The most common type of approved fraud, accounting for two-thirds of all incidents, is purchase scams. Scam instances increased from 53,907 in the first half of 2022 to 76,946 in the first half of 2023.
Password attacks
Hackers now have powerful computer programmes at their disposal to access user accounts on a wide range of websites, including ecommerce platforms.
Some of them may attempt to guess your password and login information millions of times in a single second, eventually obtaining access to your account when the perfect combination is found.
If you receive a legitimate email from a website with which you have an account stating that your data have been updated but you do not recall doing so, you should contact them to inform them that it was not you.
Fake coupon codes and deals
Scammers will attempt anything these days to scam money from you, including emailing false discount coupons or discounts.
Because so many stores are having bargains at this time, some eager consumers may not take the time to double-check that the URL they were received by text or email is authentic.
However, if you fall for a false sale on a bogus website, you will almost certainly find yourself paying for things that you will never receive – not such a fantastic deal after all. Always confirm with the retailer that an offer or discount you’ve received is legitimate.
Invalid tracking codes
Tracking codes that are not valid Unscrupulous cyber thieves will also take advantage of this busy time by sending phoney tracking codes to your email address.
With so many goods to trace, some online customers may be duped by an email purporting to be from a delivery firm and containing a bogus ‘tracking link’ for a recent purchase. The scammers will then direct you to a false website where you will be asked for personal and banking information, or they will infect your computer with malware that will allow them to hack into your accounts.
Remember, always utilise the legitimate app or tracking website supplied by the online store or delivery service.