Black Friday Sees Record Number of Scams

Cybersecurity and law enforcement leaders in the UK have issued a warning for Black Friday shoppers after new data showed increasing losses to online scams during the holiday season. 

According to the National Cyber Security Centre (NCSC) and Action Fraud, people in the UK reported losing over £11.5 million to online scams between November 2023 and January 2024, with an average loss of £695 per victim. This is a rise from the £10.6 million reported in the previous year.

Scammers targeted items like clothing, luxury tech products, and even cars. Many scams involved social media platforms, mentioned in 43% of reports, while online marketplaces were referenced in 18.9%. Adults aged 30-39 made the most reports (23%), followed by those aged 40-49 (20%). The average victim’s age was 42.

On the same day these figures were released, the NCSC launched a national campaign called Stop! Think Fraud. The campaign urges people to set up two-step verification on important accounts to increase security.

Lord Hanson, the Fraud Minister, emphasized the importance of staying cautious. He advised shoppers to avoid anything suspicious, stop interacting if something feels wrong, and refrain from clicking suspicious links. The government is committed to tackling fraud through campaigns like Stop! Think Fraud, working with partners to protect the public from cybercrime.

Shoppers are reminded that scammers often create a false sense of urgency with limited-time offers or claims of scarce products. If something seems off, it’s important to stop, break contact, and avoid clicking on links. Researching the seller through reliable review websites can also help confirm legitimacy.

Setting up two-step verification adds an extra layer of protection to online accounts. This ensures that even if a scammer has your password, they can’t access your account without a second form of authentication. These steps are essential for staying safe while shopping online during the busy holiday season.

Daniel Tannenbaum, director at cyber security firm Rosca Technologies commented: “We have particularly seen a rise in scams coming from social media sites like TikTok and Instagram which is where a lot of people spend their time just scrolling through and searching for things.”

“When seeing a social media post, it can be very hard to tell the difference between something that is legitimate and something that is not. There are sellers that fall through the cracks and pretend to look legitimate but sell fake items or do not deliver on the goods and the UK is losing huge sums in this.”

“We encourage users to be a lot more critical when making a purchase by looking up the company they find through social media, sending them an email or giving them a call to see if they respond (a lot of fake companies do not), checking for limited company numbers and reading other reviews online.”

“And of course, reporting any scams to the social networks and ActionFraud as soon as possible to avoid these businesses growing.”