Black Friday: Parents are being warned about scams

Research for the Take Five To Stop Fraud campaign, run by banking and finance industry body UK Finance, indicates that more than a quarter (27%) of parents have been tricked by purchase scams.

A purchase scam is when someone pays for goods or services and they never turn up.

Often, criminals advertise tech devices like phones or computers at low prices to attract buyers.

Anyone can be a victim of a purchase scam (Image: Canva)

They persuade them to make bank transfers and then disappear when the payment has been made.

This can either be done through fake websites or fake ads on social media.

It can also happen through auction websites.

Of the parents surveyed, only a quarter (26%) said they always research sellers before they buy.

Purchase scams are the most common kind of authorised fraud, accounting for two-thirds of cases, according to UK Finance’s recent half-year fraud report.

The volume of purchase scam cases has grown by 43%, from 53,907 in the first half of 2022, to 76,946 in the first half of 2023.

The amount stolen from victims in this period also rose by 31% to £40.9 million.

The report also indicated that 77% of authorised push payment (APP) scams start on online platforms.

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Ben Donaldson, managing director of economic crime at UK Finance, said: “More and more criminals are using fake ads and websites to target their victims.

“And particularly at this time of year, too many parents who are trying to bring joy to their children are falling victim to these ruthless crimes.

“The consequences go beyond financial, because the deception involved can cause real emotional and psychological damage. So, this Black Friday, when you’re searching for gifts for your children and loved ones, take extra care online. Check sellers thoroughly before buying and make sure you follow the Take Five to Stop Fraud advice – stop, challenge, protect.”

For the research, OnePoll surveyed 2,000 parents of five to 30-year-olds across the UK in October.

To help people stay safe, the Take Five To Stop Fraud campaign has issued the following advice:

• Stop – Take a moment before parting with your money or information.
• Challenge – Could it be fake? It is OK to reject, refuse or ignore any requests.
• Protect – Contact your bank immediately if you think you have been scammed and report it to Action Fraud.

Black Friday will take place on Friday, November 24 this year.