Black Friday scams cost consumers a staggering $432 million in 2024, according to Federal Trade Commission reports from over 380,000 people.
These numbers paint a concerning picture. The 2024 holiday season saw Black Friday-themed phishing attacks surge by 692% compared to early November. Cyber Monday spending jumped from $3.1 billion in 2015 to $12.4 billion in 2023. The rise in online shopping has unfortunately led to more scams.
This piece will help protect you while shopping this Black Friday and Cyber Monday.
Common Black Friday Scams to Watch For
Scammers target distracted bargain hunters during Black Friday shopping season with increasingly clever tactics.
Fake websites pose one of the biggest threats today. Scammers create perfect copies of trusted retail sites and add legitimate-looking logos and similar domain names. You should watch for misspelled URLs, missing HTTPS security, and domains registered just recently.
Phishing emails have exploded this season, showing a 692% jump in Black Friday-themed attacks in 2024. These deceptive messages often look like they’re from Amazon and claim your account needs immediate verification to stay active.
Social media scams work really well through ads that showcase deals too good to be true. Research shows social media platforms were the starting point for all but one of four fraud cases since 2021.
Delivery notification scams catch shoppers who are waiting for their packages. Scammers send fake texts about delivery problems that need quick action.
Counterfeit products show up everywhere in marketplaces during Black Friday. Luxury brands like Gucci and Louis Vuitton are the usual targets.
On top of that, malvertising attacks jumped 41% before Black Friday 2024. Scammers now use ads to spread malware to unsuspecting shoppers.
You need to stay alert while shopping this season.
How to Avoid Black Friday and Cyber Monday Scams
You need to take steps to protect yourself from Black Friday scams. Start by checking website security – look for “https” in the URL and a padlock icon in your browser’s address bar. These features show that the website keeps your data encrypted.
Shopping on public Wi-Fi networks puts you at risk. Your home network or cellular data provides a more secure connection for your shopping needs.
Promotional emails can be tricky. Check where links actually go by hovering over them before clicking. A safer option is to visit the retailer’s official website directly instead of using email links.
Credit cards work better than debit cards for online shopping protection. They give you fraud protection and let you dispute charges if something goes wrong.
Your shopping accounts need multi-factor authentication (MFA). This extra security layer makes it by a lot harder for scammers to get your information, even when they have your password.
Your devices and software should stay updated to stop common malware attacks.
One golden rule stands above all: deals that look too amazing usually are. Real retailers won’t rush you into quick decisions or ask for strange payment methods.
What to Do If You’ve Been Scammed
Black Friday scams affect thousands of shoppers each year, despite their best precautions. Your first step should be to contact your financial institution right away to report any fraudulent transactions. Quick reporting improves your chances of getting your money back.
Your next step is to update passwords for any accounts that scammers might have accessed. Make sure to create strong, unique passwords that combine letters, numbers, and special characters.
Save all evidence about the scam, including screenshots, emails, text messages, and transaction records. This documentation is significant when you file official reports.
The appropriate authorities need to know about the scam:
Federal Trade Commission (FTC) at ReportFraud.ftc.gov
FBI’s Internet Crime Complaint Center (IC3)
Your local police department
The retailer or platform where the scam occurred
The whole ordeal requires you to watch your credit reports carefully for several months afterward. You might want to think about placing a fraud alert or credit freeze with major credit bureaus.
If scammers compromised your debit cards, ask your bank about getting new account numbers. Credit card users typically have better protection against fraudulent charges than debit card users.
Share your experience with friends and family to help protect them from similar scams.
Nickerson Insurance Services, INC. can guide you through insurance coverage options against cyber crimes just to stay protected. Contact our agents at www.nickersonins.com to find out more.
