10 Black Friday scams to look out for

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If you are looking to bag a bargain this Black Friday, remember to remain vigilant of scams – especially if you’re shopping online.

Unfortunately, fraudsters use Black Friday as a way to trick consumers into parting with their cash for products that don’t really exist, or as a way to gain access to bank accounts.

10 Black Friday scams

Fraudsters know that shoppers are willing to spend money quickly to bag the one-day-only Black Friday Deal and can be easily tricked into too-good-to-be-true discounted prices.

Below we have listed some Black Friday Scams you should look out for before making any online purchases.

Joe Davies, founder and CEO at FATJOE explained:

“Scams explode during Black Friday because scammers know that people are much more likely to act impulsively when discounts are to be had. Data from Starling bank in the UK suggests that nine out of ten people overspend during the sale, with the average person blowing £511 more than they intend.”

Fake retail websites

Davies explained: “Fake retail websites were a significant issue we uncovered when looking into the Black Friday scam data. Scammers are creating entirely fraudulent shopping portals to steal credit and debit card information from unsuspecting victims.

“What’s more, these websites are often hyper-realistic. Scammers make them look the same as legitimate websites, often mimicking the most popular e-commerce stores. To avoid them, I recommend checking the URL at the top of the browser window and not clicking links in posts or email messages.”

Social media phishing

“Social media phishing was another issue that came to our attention during the research,” Davies reveals. “With these, scammers will post deals on social media with links forwarding shoppers to fraudulent portals that then collect their financial information.”

“Our advice is for shoppers to use their common sense. Usually, something feels off with these posts. Scammers often use sales tactics, like creating a sense of urgency or scarcity, pressuring users into making rash decisions.”

Counterfeit goods

Davies added: “Unfortunately, Black Friday is also a time when the number of counterfeit goods in circulation also rises. Scammers capitalise on people’s desire for luxury products by offering discounts on fakes.”

“Again, my advice here is simple: if a deal looks too good to be true, it probably is. Most designer brands keep their prices high to maintain exclusivity. Fifty percent off is highly unusual unless it is through a trusted channel.”

Fake order confirmations

“At FATJOE, we’re also warning people about fake order confirmations,” he explained.

“These occur when scammers send people spurious messages confirming an order they never made. Users click on the link and lo-and-behold, get forwarded to a website that asks for payment details.”

Non-delivery scams

“Non-delivery scams work in the same way,” Davies said. “Scammers send a fake delivery report hoping curious users will click on the link to get to the bottom of the mix-up.”

Gift card scams

He added: “We also found a high likelihood of gift card scams around Black Friday, simply because of the sheer number of people buying presents. Here, the idea is to get shoppers to sign up for gift cards on fake portals mimicking trusted brands where they type in their login credentials or credit card info.”

Account verification scams

“Account verification scams work in much the same way,” Davies said. “Scammers send a message to users saying something like ‘we’ve noticed a suspicious login attempt on your account.’ Then, shoppers follow the link, going through all the usual stages to secure their accounts except, this time, it is doing the precise opposite.”

Fake delivery notifications

“Scammers also send shoppers fake delivery notifications hoping to extract information along the same lines. They’re not particularly original!” Davies explained. “Usually, consumers receive a fake SMS with a dubious ‘track your shipment’ URL. In reality, this is just a standard phishing link forwarding them to a spoofed domain.”

In-store Wi-Fi scams

Davies said: “Our research also warns shoppers about using public Wi-Fi over the Black Friday season. Hackers can intercept information while using these networks, taking advantage of man-in-the-middle vulnerabilities. Because of this, we caution users against checking in-store prices unless on a regular 5G data connection.”

Incorrect bank details scams

Davies concluded: “Finally, we found some scammers were using an incorrect bank details swindle. Here, criminals send a message to shoppers saying that there has been a problem with their transaction from a store they recently bought from. The message’s link then contains a fake portal to enter bank details.”

When is Black Friday?

Black Friday is on Friday 29 November, 2024. However, some retailers start their sale earlier that this. For example, Amazon has announced a ‘Black Friday Week’ from November 21 – November 29 – so remember to remain vigilant during this time.

What to do if I fall victim to a scam?

If you believe you have been a victim of a scam, you should follow these steps:

Here are 5 simple steps that you should do next to help and prevent further fraud:

Report the scam/fraud to your bank immediately. The number 159 is a centralised number to call specifically to report scams.
If it involves your bank account, freeze any accounts or pending transactions
Report the scam as financial crime to the police
Seek support either from Citizens Advice Bureau, Action Fraud and/or a legal entity such as Oakwood Solicitors.
Put measures in place to ensure prevent being scammed in the future.

I’ve been scammed – Will I be able to get my money back?

From October 7, new regulations were put in place which means that banks, in most cases, must refund victims who have been scammed and sent money to a fraudster via a bank transfer.

Are you covered under the new rules?

The new rules cover scams involving UK bank transfers made via Faster Payments or CHAPS. Payments made by card, cash, or cheque are not included.

When do the new rules apply?

The new regulations apply to payments made on or after Monday, October 7, 2024. Payments made before this date fall under the old voluntary code of practice.

Which financial institutions will refund me?

All banks, building societies, e-money firms (such as prepaid card providers), and savings providers are covered by the new regulations.

How much can you claim back?

Banks are required to refund up to £85,000, though they may choose to refund more. The Payment Systems Regulator (PSR), the authority behind the new rules, believes this cap will cover 99.8% of APP scam cases, reimbursing around 90% of the total value lost.

Initially, the cap was set at £415,000, but was lowered to avoid discouraging investment and innovation in the financial sector. If your losses exceed £85,000 and you believe the bank is at fault, you can file a complaint with the Financial Ombudsman Service, which has a limit of £430,000.

How quickly can you expect a refund?

In most cases, banks aim to issue refunds within five working days. However, if your case requires additional investigation, the bank may take up to 35 working days.

Contact Oakwood Solicitors Ltd today if you have been a victim of a bank scam.

Why should I contact Oakwood Solicitors Ltd?

If you have been a victim of a scam, contact Oakwood Solicitors Ltd today to find out how we can help you. We can help assist you in your claim and help you retrieve the money that is rightfully yours.