ANZ warns Australian shoppers to beware of scams during Black Friday and Cyber Monday sales
The sale season is fast approaching and ANZ has some tips to protect consumers from fraudsters.
Everyone loves a good deal, and with Black Friday and Cyber Monday just around the corner, sales season is truly upon us.
But that also means scammers are on the prowl, looking to take advantage of bargain-hungry shoppers.
Australian shoppers spent more than $1.46 billion during the 2023 sales period, and ANZ expects that figure to increase by at least 6% this year when sales begin on November 29.
With more than 70 percent of these sales made online, there will be many fraudsters.
“Fraudsters often exploit popular shopping events like Black Friday, hoping to take advantage of individuals keen to score a good deal,” ANZ scams portfolio manager Ruth Talalla said in a statement.
“During seasonal sales, we typically see an increase in fake sales websites or adverts claiming to be from reputable Australian retailers, hoping to lure shoppers in with deep discounted prices or amazing deals.”
“We encourage customers to take a moment before making any online purchase, whether during a sale or not, and to check the website to ensure the legitimacy of the information.”
ANZ has five simple tips to follow to shop online safely this year.
- Think before you click – most retailers and other businesses will not ask for personal or financial information.
- Check the URL – double-check all links for strange domain names or misspelled brand names.
- Read independent reviews – other buyers may have been victims before you and have shared their experiences online. If in doubt, research reviews of any website before clicking “buy”.
- Check the payment method – if a site asks for payment in gift cards or cryptocurrency, be very careful. These are the preferred payment methods of most cybercriminals.
- If it sounds too good to be true, it probably is – quite self-explanatory. If the discount is too outrageous or the price too low, that’s a red flag. Scammers often try to prey on consumers looking for big savings.
“We encourage customers to take a moment before making any online purchase, whether during a sale or not, and to check the website to ensure the legitimacy of the information,” Talalla said.
