Barclays warns of surge in Black Friday and Cyber Monday shopping scams

The number of reported purchase scams after Black Friday and Cyber Monday last year rose by 34%, with an average of £1,072 lost to scammers, according to research from Barclays.

This also shows that 89% of Brits are relying on Black Friday to do some or all of their Christmas shopping this year.

The bank surveyed 2,000 people. 48% plan to do their shopping online, leaving them more vulnerable to scammers.

In fact, Barclays data shows that the proportion of scams taking place on tech platforms, such as purchase/actions sites, social media, or dating apps, has increased by 71% since the beginning of 2021.

Currently 77% of all scams take place on these platforms, but at the beginning of 2021 it was just 45%.

Many consumers are changing their normal behaviour on Black Friday when searching for the best deals.

32% feel pressured to make a purchase as quickly as possible to make sure they get the best deal.

One in five said they were more likely to take note of a “too good to be true” deal, and a further 17% admitted to shopping on sites they haven’t heard of before if they have particularly good deals or sales.

Ross Martin, Head of Digital Safety at Barclays, says: “Whilst Black Friday is a great way for Brits to save money ahead of the Christmas season, it is important to stay vigilant when making purchases.”

“This year more than ever, people will be looking for the best bargains, which could lead them right into the hands of scammers, who will be advertising false offers to lure victims in.”

“Just remember - ignore any pressure that is being put on you - and if a deal seems too good to be true, it probably is.”