Black Friday is increasingly being referred to as Black Fraud Day, as the discount season has become a prime opportunity for scammers. Online criminals are exploiting consumers’ desire to save money during the ongoing cost of living crisis. Last Christmas, individuals in the UK fell victim to scams totalling over £11.5 million, a figure that represents an increase of nearly £1 million compared to the same timeframe in 2022. Common tactics included fraudulent listings for clothing and high-end technology on social media platforms. The holiday season has emerged as a peak period for cybercriminals, as shoppers actively seek out bargains.
Between November 2023 and January 2024, more than 16,000 instances of online shopping fraud were reported, with each victim losing an average of £695. Additionally, 7,168 reports, accounting for 43% of submissions to Action Fraud, the UK’s scam reporting center, indicated that a social media platform was involved. To enhance security while shopping on online marketplaces, social media, or retail websites, it is advisable to avoid bank transfers when possible and to utilize a credit card, which offers greater protection in case of issues.
Originally, Black Friday was a single day of discounts; however, with promotions now extending over several weeks, it has evolved into the largest shopping event of the year, during which billions of pounds are spent. Given the substantial financial stakes, scammers are intensifying their efforts.
To combat these threats, the National Cyber Security Centre (NCSC) is launching a public awareness campaign on Monday, recommending that consumers implement two-step verification for added security. This measure ensures that even if a criminal obtains your password, they will still be unable to access your accounts. Additional recommendations include refraining from clicking on suspicious links and conducting thorough research on companies or sellers by consulting reputable review sites.
