Shoppers have been warned to be on the lookout for potential scams this Black Friday after one bank saw customers losing out on large amounts of money over the pre- Christmas shopping period.
Black Friday on the last Friday of November sees retailers drop prices, often leading to huge queues and crowds at the shops to snap up discounted items, while Cyber Monday after the weekend similarly sees online retailers run sales and promotions. Unfortunately, opportunistic scammers are likely to take advantage of the popular shopping window to con customers into parting with their cash.
Barclays bank reported that it saw scams jump by a third (34%) compared to usual monthly averages following Black Friday and Cyber Monday this time last year. The bank said that around £1,072 was typically lost to scammers as people hunted for shopping discounts and deals.
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Many of these scams originated online, including on websites and social media, where shoppers were lured in with fake offers. Barclays has now issued advice on how best to avoid these harmful scams, after a survey found that almost a third (32%) of people feel pressured to buy things as quickly as possible over Black Friday and Cyber Monday to secure the best deal.
The bank urges customers to follow these four steps to avoid falling victim to scams:
- Research and read reviews to check the website and the seller are genuine.
- If you can, view the item in person first to make sure it exists, especially if it is a big purchase, such as a smartphone or a car.
- Get a second opinion. Always speak to someone you trust for a second opinion, whether it is a friend, family member, or your bank.
- Be wary of unlikely offers. Many purchase scams offer huge discounts that you would not tend to find at retailers you would normally trust. Remember, if a deal seems too good to be true, it probably is.
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