Fraud surge expected over Black Friday

Brits are being warned to brace for a surge in purchase scams after Black Friday and Cyber Monday later this month.

A new report from Barclays has found that the number of reported purchase scams after Black Friday and Cyber Monday last year rose by 34 per cent. The average loss to scammers was £1,072.

The UK’s cost-of-living crisis has meant that shoppers are more cost-conscious than ever and will be after bargains while doing their holiday shopping. The bank notes that 89 per cent of Brits are relying on Black Friday to do some or all of their Christmas shopping this year, with the average consumer set to spend over £200 during the sales event.

Some 48 per cent of surveyed participants said they will do their Black Friday shopping online, with Barclays warning that online the proportion of scams taking place on tech platforms, such as purchase/actions sites, social media, or dating apps, has increased by 71 per cent since the beginning of 2021.

Ross Martin, head of Digital Safety at Barclays, said: “Whilst Black Friday is a great way for Brits to save money ahead of the Christmas season, it is important to stay vigilant when making purchases This year more than ever, people will be looking for the best bargains, which could lead them right into the hands of scammers, who will be advertising false offers to lure victims in.

“Just remember – ignore any pressure that is being put on you – and if a deal seems too good to be true, it probably is.”

    Share Story:

Recent Stories


HULFT
Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.
Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.