November kicks off the peak spending season for Australian shoppers, with many choosing to do their Christmas shopping over the Black Friday and Cyber Monday weekend.
In 2023, Australians spent more than $1.46 billion over the Black Friday to Cyber Monday retail sales period, with spending across the four days of the Black Friday weekend alone increasing by over $226 million compared to the average Friday to Monday in November.
The Black Friday sales will commence on Friday 29 November in 2024, and based on momentum observed in October spend, ANZ data anticipates retail spend could increase by almost 6% year-on-year over the same period.
For scammers, a busy sales season is the perfect time to take advantage of shoppers, with 76.5% of Black Friday sales transacted online last year. According to Scamwatch, in November 2023, Australians lost more than $330,000 to online shopping scams.
ANZ Scams Portfolio Lead, Ruth Talalla said: "Scammers often exploit popular shopping events like Black Friday, hoping to take advantage of individuals focused on securing a bargain. During seasonal sales, we generally see a rise in fake shopping websites or advertisements pretending to be reputable Australian retailers, hoping to entice shoppers with highly discounted prices or incredible deals.
"We encourage customers to take a moment before making any online purchases, whether during a sale or not, and verify the website to ensure the information is legitimate."
Tips to stay safe online during Black Friday and Cyber Monday sales:
Think before you click - A legitimate organisation will never request personal information through a link in an email or text message and will always be accessible via an independent desktop search.
Verify the URL - Ensure links start with https and end with a reputable domain like .org, .com, or .au. If you clicked a link to arrive at the site, perform a secondary search to confirm its authenticity.
Read independent reviews - Before entering your card details at checkout, read reviews of the website. Scammers may mimic the branding and layout of reputable brands to deceive shoppers.
Check the payment method - Be cautious if an organisation asks for payment via gift card. Cyber-criminals often prefer cryptocurrency and gift cards because they are difficult to trace.
If it seems too good to be true, it probably is - While tempting, heavily discounted offers from your favourite brand should be examined carefully. If the same discount isn't available in-store, it's likely not a genuine deal.
ANZ's customer protection teams and systems operate 24/7. Customers who believe they may have been a victim of a scam should contact us immediately, on 13 13 14 or visit us at http://www.anz.com.au/security/report-fraud/
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