Mann Broadbent Blog: Protect yourself from Black Friday scams

How to avoid falling for fraud this festive season

Black Friday on the 29th November and Cyber Monday on 2nd December, are some of the biggest shopping days of the year, with top sport, dance and leisure brands offering tempting deals to attract shoppers ahead of Christmas. However, while these events bring opportunities for savings, they also draw out cybercriminals who exploit the shopping frenzy. The flood of emails and ads can make it difficult to spot fraudulent schemes, especially as scammers become more sophisticated in their tactics.

With rising costs impacting all corners of society, people may be more vulnerable to these scams, lured in by the promise of steep discounts. Here’s what you need to know to avoid Black Friday scams and protect your finances.

Key Tips for Avoiding Black Friday Scams:

Too good to be true?

If a deal looks unrealistically cheap, it probably is. Take a moment before you click and consider checking with someone you trust to see if they think it’s genuine.

Be wary of suspicious communications

Phishing emails, fake phone calls, and fraudulent text messages are common ways for scammers to steal information. Look out for poor grammar, strange sender addresses or unfamiliar website links. Don’t be in a rush to make a purchase, look carefully and act carefully.

Use secure payment methods

Always choose secure payment options, like PayPal or credit cards, which often provide additional fraud protection. A quick call can help save you money in the long run.

Verify unknown businesses

If a website looks unfamiliar, do some research before making a purchase. Check for a physical address, customer reviews, and contact information to confirm legitimacy.

Limit information sharing

Only share the information necessary to complete your purchase and avoid setting up new accounts on unfamiliar websites. It’s a need-to-know basis when you’re shopping online.

Create unique passwords

Use a different password for each online store and keep your credentials safe. If you must write them down, store them securely. Try using three unique words to help you remember your passwords and never share them.

Use a credit card for extra protection

Credit cards can offer greater purchase protection compared to debit cards, which may be helpful if a transaction turns out to be fraudulent.

Avoid public wi-fi which is unsecure

Free Wi-Fi in public areas is often unsecured and can expose you to hackers. Save shopping for secure networks at home or use a VPN for added security.

Monitor your accounts regularly

When you are Christmas shopping online there will be multiple transactions so it can be harder to spot criminal activity. Check your bank statements for any unauthorised transactions and contact your bank immediately if you see something suspicious.

Enable multi-factor authentication

Adding another layer of security to your accounts, such as multi-factor authentication, can help prevent unauthorised access. It also slows your thinking down when you’re tempted on a bargain that you don’t want to miss out on.

Safeguard your finances this holiday season

Both individuals and businesses face heightened risks during Black Friday and Cyber Monday but implementing these precautions can significantly reduce your vulnerability to scams. For added protection, consider Cyber Essentials certification, which helps businesses and individuals enhance their security practices. You might also explore cyber insurance to cover potential losses from cybercrime.

For more information on Cyber Essentials, click HERE to visit the official site.

To learn more about protecting yourself or your business from cyber risks during Black Friday or Cyber Monday, please contact the Mann Broadbent team on 01905 612336 or email enquiry@mannbroadbent.co.uk.

Check out the Mann Broadbent RIA Foundation Member profile here  . 

Photo: Sutcliffe Insurance Brokers Limited trading as Mann Broadbent