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Festive Fraud & How to Avoid It

21st November 2024

Metro Bank Joins BBC Be Scam Safe Awareness Week

Last year not only did UK consumers spend over £13.3 billion[1] during the Black Friday and Cyber Monday sales – up 7% on the year before - but more than half (52%) of Black Friday shoppers relied on the promotions to help manage their financial concerns. Metro Bank is warning all consumers to be wary of purchase of scams in the hunt for a good deal this year.

Cybercriminals will use the bargain deals to deceive shoppers by setting up fake e-commerce websites, sending phishing emails with malicious links, or offering heavy discounts.

Ahead of Black Friday this November 29th, Metro Bank is one of the many financial providers joining the BBC Be Scam Safe awareness week from November 23rd to help educate consumers about the potential risks and offer guidance on how to protect themselves.

BBC Be Scam Safe is a week of special programming across TV, iPlayer, Radio, Sounds and Online.  Participating programmes include Scam Interceptors, Morning Live, The One Show, Rip Off Britain, Eastenders and The Archers to name a few.

“Last year’s awareness week was a huge success and we are proud to work with the BBC again to remind consumers how to help protect themselves and shop safely,” comments Metro Bank’s Head of Fraud & Investigations, Baz Thompson.  “Everyone loves a getting a good deal, but raising awareness will help ensure that bargain purchase need not be a gateway to fraud and the worst deal ever.”

Purchase Scams Red Flags

  1. Only buy from websites which are legitimate, but please bear in mind genuine websites can be cloned. If you’re unsure, do some independent research around the retailer – don’t rely on the company’s own reviews.
  2. Avoid sending payments via faster payment and use a secure payment platform such as PayPal, card purchase or pay on collection/delivery.
  3. Always carry out independent checks into the seller – find out how long their profile has been active and whether they’ve sold any products previously.
  4. Check the average price of a product and consider whether the price is too good to be true, if it is it will usually be a scam.
  5. Question where products are being sourced from and any discounts the seller is offering.
  6. Avoid clicking on links, instead enter the address of the website in your browser to ensure you are going to a genuine site.
  7. When buying items of high value on social media sites, always see the item in person before parting with any money.

 

[1]  Source: Mintel UK Black Friday Market Report 2024