Black Friday and Cyber Monday will see us spend an estimated £3.95 billion this year. But with increased online sales, comes increased online fraud, according to Richard Harris, EVP at Strategy and Advisory, at Feedzai.
Richard has put together his top tips on how to avoid being scammed:
Festive fraud– there are certain types of scam, that become more prominent during the festive season, so it is important consumers are aware if the most common fraud scams at this time of year, which are:
- Identity Theft
- Fake charity scam
- Fake website scam
- Phishing scam – emails, messages and calls that deceive victims into revealing their personal information
- Coupon Scam
- Fake Delivery Notification Scam
- Gift Card Scam
- Non-Delivery Scam
- Fake Order Scam
Look for the telltale signs - scam sites are getting remarkably good, making it hard to tell the difference between a real and a fake website, but certain characteristics will stand out, a major one being a real offer or deal will be unlikely to link directly from a WhatsApp message or on Instagram. If you’re at all concerned, go through the official front page of the website and get to the offer that way, and if you can’t find it, you should be wary immediately.
Unusual payment types - any ‘deal’ that requires you to use a very specific way of paying, like a bank transfer or a gift voucher or a money transfer is very unlikely to be genuine.
Richard said “The excitement of this season for shoppers is that they’re looking for that amazing deal, and this season, with inflation so high, prices are up across the board which makes the season of falling prices and promotions even more appealing. These massive concentrations of retail sales spikes attract fraud, with fraudsters jumping into the mix to take advantage of consumers looking to find bargains. And that's what the fraudsters are banking on - they are hoping that you’ll suspend your disbelief and hope that that slightly weird deal is actually a bargain and not a scam. The golden rule this holiday season is the same as it ever was. If it sounds too good to be true, then it probably is….”
