Black Friday Scams: Australian Warnings & Loss Figures
- Australian consumers are being urged to exercise extreme caution as Black Friday sales events begin, wiht a significant increase in shopping scams reported this year.
- according to data released by the ACCC on Tuesday, November 21, 2023, Australians lost close to $260 million to scams between January and September 2023.
- Scammers typically operate thru fake websites,deceptive advertisements,compromised social media accounts,and malicious mobile applications.
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Black Friday Scam Alert: Australians Warned of Rising Fraud During sales Events
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Australian consumers are being urged to exercise extreme caution as Black Friday sales events begin, wiht a significant increase in shopping scams reported this year. The Australian Competition and Consumer Commission (ACCC) warns that scammers are actively exploiting the heightened online activity and sense of urgency associated with these sales.
Scam Losses Soar in 2023
according to data released by the ACCC on Tuesday, November 21, 2023, Australians lost close to $260 million to scams between January and September 2023. Shopping scams were the most frequently reported type of scam involving financial losses during this period, totaling $8.6 million – a 19% increase compared to the same timeframe in 2022 (ACCC Media Release, November 21, 2023). This surge highlights the growing sophistication and prevalence of online fraud.
Scammers typically operate thru fake websites,deceptive advertisements,compromised social media accounts,and malicious mobile applications. These tactics are designed to lure unsuspecting shoppers into purchasing non-existent products or revealing sensitive payment details.
Why Black Friday is a Prime Target for Scammers
ACCC Deputy Chair Catriona Lowe explained that scammers specifically target Black Friday sales as they capitalize on consumers actively seeking bargains. The inherent urgency and pressure associated with limited-time offers create an habitat where individuals might potentially be less cautious and more likely to fall victim to fraudulent schemes (ACCC Media Release, November 21, 2023).
“Scammers love black Friday sales because they know shoppers are looking for bargains and they rely on creating urgency and pressure that can come with a busy shopping period,” Lowe stated.
The ACCC advises consumers to take their time, thoroughly verify the legitimacy of websites and offers, and exercise caution when sharing personal or financial information online. Simple checks before making a purchase can significantly reduce the risk of becoming a victim of a scam.
Common Black Friday Scam tactics
here are some common tactics employed by scammers during Black Friday sales:
- Fake Websites: Websites that closely resemble legitimate retailers but are designed to steal your payment information.
- Phishing Emails & Texts: Messages that appear to be from trusted companies, prompting you to click on malicious links or provide personal details.
- Social Media Scams: Advertisements or posts on social media platforms promoting unrealistic deals or leading to fraudulent websites.
- Payment Method Requests: Requests to pay via unusual methods like gift cards or direct bank transfers