Experts warn of Black Friday fraudsters

Researchers at Financial Fraud Action UK (FFA UK) have issued a fresh warning for shoppers not to be rushed into bagging a bargain this Black Friday as 15 million online shoppers could be putting themselves at risk of financial fraud.

Fraudsters are luring shoppers onto fake websites to steal card details by offering limited time discounts and flash sales advertised through scam emails and dodgy social media ads.

The research shows that 31 per cent of online shoppers admit that they are more likely to take a financial risk if an online retailer offers them a bargain and almost one in five (19 per cent) of online shoppers admit they would click on an unsolicited email if it promised them a good deal.

Financial fraud

“Consumers need to know that they may not see the impact of financial fraud immediately, i.e. during this shopping weekend, because if a criminal has harvested their financial details, they could use them at any time,” warns Senior Fraud Prevention Officer, DCPCU (Dedicated Card and Payment Crime Unit), Tony Blake.

The research also added that more than a third (36 per cent) of consumers admit their shopping habits change when faced with an opportunity to bag a bargain.

“It is easy to forget the dos and don’ts about sharing personal information if you feel rushed into making a purchase and are under pressure,” says Tony.

Fear of missing out

According to the research those aged 16-34 are most at risk, with almost half of that age group (46 per cent) admitting to be more impulsive shoppers, compared to 18 per cent of people aged 55 or over. Additionally almost a quarter (24 per cent) admit their FOMO (fear of missing out) on a great deal leads them to let their guard down when it comes to online shopping.