- Criminals are preparing for their own shopping spree – here’s how to avoid them
Millions of shoppers will be looking to bag a bargain this Black Friday, whether online or on the high street.
As many as one in three people will be shopping for deals in the Black Friday sales, with customers in the UK predicted to spend an eye-watering £233,300 per minute.
Nationwide Building Society predicts that Black Friday will be its busiest day ever and is forecasting a nine per cent jump in transactions compared to last year.
But fraud experts are warning that criminals are limbering up for their own shopping spree, and will be out to snatch shoppers’ financial information.
Risk analysts at fraud prevention firm LexisNexis Risk Solutions say customers should be ‘extra vigilant’ as the Black Friday bonanza gets under way.
We reveal the five Black Friday scams you need to watch out for – and how you can protect yourself.
Scam watch: Shoppers have been told to be ‘extra vigilant’ as Black Friday gets under way
1. Online account takeover scam
These scams happen when a criminal takes ownership of someone else’s online account, using stolen passwords and usernames. These details are often leaked as part of data breaches or cyber attacks and then sold on the dark web.
Personal account detail changes and password reset attacks are both forms of account takeover attacks.
Essentially, the criminals want to find an online retail account where you have saved your card details, use them to buy something or withdraw funds, and then change your password or other details to lock you out.
Fraudsters often use sophisticated bots to test stolen login credentials at high speed and on multiple websites at once.
During the extended holiday period last year, one in six instances of information being changed in an online retail account was a fraudster changing a victims’ personal account details, according to LexisNexis Risk Solutions.
2. Card not present con
This type of scam happens when the numbers on someone’s debit or credit card are stolen online, or at a checkout or cash machine.
The fraudster then uses the information to make a purchase over the phone – where they only need to provide the card numbers, and not the Pin.
Nationwide Building Society reported that ‘card not present’ fraud – is the building society’s most common fraud this year, accounting for nearly a quarter of all fraud cases in 2024.
Shoppers are being warned to check their accounts regularly to beat this type of scam as at it’s easy to miss a fraudulent transaction in amongst the genuine purchases at this time of year.
You should also never share codes, such as the one-time pin codes sent to you by your bank to confirm a purchase, with anyone. Financial providers will never ask you for one.
You should also never share codes, such as the one-time pin codes sent to you by your bank to confirm a purchase, with anyone. Financial providers will never ask you for this.
Report anything suspicious to your bank as soon as you can.
3. Buying fake goods
A purchase scam is where you pay for goods or services that are fake or never turn up.
Shoppers are particularly at risk of falling victim to purchase scams during Black Friday as they are in the mindset of hunting down bargains and getting good deals on Christmas presents for loved ones.
More than £42million was lost to purchase fraud in the first half of 2024 with 375 cases every single day, according to trade body UK Finance.
Parents are particularly likely to be susceptible, as fraudsters often take advantage of the fact that lots of parents will be trying to track down a popular present for their children.
Fake goods are most commonly advertised on Instagram or Facebook Marketplace. Data from TSB reveals Facebook accounted for two thirds of all purchase fraud losses. This is followed by Instagram, which accounted for sixteen per cent of purchase fraud.
According to TSB, the most common items listed in fake ads or posts for Black Friday include concert tickets, football tickets, cars, clothes and trainers and children’s toys.
Be wary of offers that seem too good to be true, and check customer reviews of the seller to make sure they have a good track record.
4. Bogus parcel delivery texts
Scammers take advantage of the fact that shoppers are likely to have lots of parcels arriving at this time of year.
In this type of scam, a fraudster will send fake text messages or emails containing links, pretending to be from a retailer or courier with fake parcel tracking information.
They may also say that you missed a delivery and need to click a link to reschedule it.
If you click the link or open the attachment, crooks can then infect your device with malware or direct you to fake websites where they will trick you into handing over your personal details.
Fake parcel delivery texts were the fastest growing scam of 2023 according to NatWest
Fake parcel delivery texts were the fastest growing scam of 2024, with one in three people receiving one in the last 12 months, a study from NatWest revealed.
Never click on a link in a text or email from an unknown number or email.
A courier or the Post Office will never ask you to enter card details to see if a parcel has been delivered or reschedule a delivery.
Rob Woods, fraud and identity director at LexisNexis Risk Solutions, says: ‘The public should remain extra vigilant this shopping season and think twice before clicking on any link they receive in an email or text message claiming to be from a genuine company.’
5. Artificial sale prices
When looking to secure a bargain this Black Friday, shoppers should also watch out for underhanded tactics from retailers like fake sale prices.
You might think you’re getting a good deal, only to find that after Black Friday the price is the same or even a bit cheaper.
Retailers often inflate prices ahead of busy seasons to make deals sound better than they actually are and entice customers to buy more.
Katy Phillips of price comparison website Idealo says: ‘There are several reasons why prices can fluctuate all year round. Many retailers use artificial intelligence and algorithms to dynamically adjust prices according to consumer demand and competitor prices.’
Some shopper price comparison sites have free tools that you can use allow you to set price alerts or monitor the price history to identify the best discount.
You can use comparison sites to spot the difference and see whether it’s cheaper elsewhere, for example Idealo, Price Spy and Camel Camel Camel.
Don’t be taken in by bargain basement prices that seem to good to be true, and only buy items you were going to buy anyway.
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