Black Friday shoppers are being urged to stay alert for scams disguised as sales, with shopping scams having increased by nearly 20 per cent.
The Australian Competition and Consumer Commission (ACCC) said on Tuesday that victims lost close to $260 million to scams across January to September.
Shopping scams were the most reported type involving financial losses over that period, totalling $8.6 million — up 19 per cent from the same period last year.
Scammers mostly target shoppers online, using fake websites, advertisements, social media accounts and mobile apps to lure in victims to "buy" fake products, and hand over payment details.
"Scammers love Black Friday sales because they know shoppers are looking for bargains and they rely on creating urgency and pressure that can come with a busy shopping period," ACCC deputy chair Catriona Lowe said.
"We remind consumers to take their time, check the legitimacy of websites and its offers, and be cautious about sharing personal or financial information online. A few simple checks before making a purchase can make all the difference in avoiding a scam and keeping your money safe."
Compromised social media accounts used to target victims
Scammers are also impersonating accounts on Facebook and Instagram to target personal networks, the ACCC said.
After gaining access, they promote scams such as fake ticket sales, "fire sales" and investment schemes.
They are able to further compromise a user's friends' accounts by requesting one-time codes, enabling a chain of account takeovers.
Lowe said: "We continue to urge Australians to verify who they are communicating with online, as scammers leverage trusted relationships and social platforms to manipulate people into handing over money and personal information."
A few simple checks before buying something online can make all the difference in avoiding scams and keeping your money safe, the ACCC said.
Australians urged to 'stop, check and protect'
Lowe said the ACCC strongly encourages people to check in with loved ones about their levels of scam awareness.
"Scammers are criminals who target anyone," she said.
The National Anti-Scam Centre also reported it's seeing more people from vulnerable communities report financial losses, with a 12 per cent rise for people with a disability, a 35 per cent rise for those who speak English as a second language, and a 50 per cent rise for First Nations people.
The ACCC is asking consumers to learn how to 'Stop, Check and Protect' to stay safe from scams.
This includes advice such as:
- Always take a moment before giving your money to personal information to anyone, as scammers create a sense of urgency to pressure you into acting quickly
- Make sure the person or organisation you're dealing with is real. Contact the person or organisation using phone numbers or email addresses from their official website or app
- Act quickly if something feels wrong. Call your bank, report to the police and Scamwatch, and change security details if you think they’ve been compromised
Scam reports down, losses up
The National Anti-Scam Centre's Scamwatch service received 159,319 scam reports between January and September this year, with reported financial losses of nearly $260 million.
Despite a 16 per cent increase in losses, at $259.5 million, there was a 20 per cent decrease in scam reports compared to the same period last year.
Black Friday officially falls on 28 November, but many retailers have already started Black Friday sales.
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