Cyber Crime
Black Friday or ‘Black Fraud Day’? Scammers Cash In on Discount Craze
The festive shopping season, particularly Black Friday, is increasingly becoming a hotspot for online scams, according to the head of Britain’s cybersecurity agency. Cybercriminals are reportedly exploiting artificial intelligence to deceive shoppers, with last year’s holiday season witnessing over £11.5m in fraud-related losses—almost £1m more than the previous year.
Richard Horne, Chief Executive of GCHQ’s National Cyber Security Centre (NCSC), cautioned that the allure of festive bargains during a challenging economic climate has made the period “prime time” for scammers.
Fraudsters are leveraging AI tools to craft highly convincing scams, targeting bargain hunters with fake listings, often involving clothing or high-end tech products on social media platforms.
Statistics from the National Fraud Intelligence Bureau revealed that over 16,000 cases of online shopping fraud were reported between November 2023 and January 2024, with an average loss of £695 per victim. Social media was implicated in 43% of these cases, while online marketplaces accounted for 18.9%.
The analysis further showed that individuals aged 30-39 were the most affected demographic, constituting 23% of reports, followed by the 40-49 age group at 20%. The average age of victims was 42, highlighting that no age group is immune to these schemes.
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Adam Mercer, Deputy Director of Action Fraud, urged consumers to remain vigilant. “Never feel pressured into making a purchase online. A false sense of urgency is a classic tactic used by fraudsters,” he said. Mercer also advised avoiding direct bank transfers and instead using credit cards, which offer better consumer protection in the event of a dispute.
With Black Friday evolving from a single day into weeks of promotional offers, it has become the year’s most significant shopping period, with billions spent globally.
This year, the average consumer in the UK is expected to spend £365 during the November sales, up from £300 in 2023, despite concerns over rising prices for essentials like food and energy.
The telecom company Three reported a sharp increase in scam messages during last year’s Black Friday season, with approximately 3,500 daily reports during the period.
The company also noted a consistent surge of 170,000 more monthly scam messages in 2024 compared to the previous year.
To combat these threats, the NCSC is launching a public awareness campaign aimed at equipping consumers with tools to protect themselves. Key recommendations include enabling two-step verification for online accounts, avoiding suspicious links, and researching sellers on reputable review platforms before making purchases.
As the holiday shopping season approaches, shoppers are urged to prioritize caution and security while seeking deals to avoid falling victim to these increasingly sophisticated scams.