Reports of purchase scams jumped by around a third (34%) after Black Friday and Cyber Monday last year, compared with the usual monthly averages, according to Barclays.
Around £1,072 was lost to scammers typically, the bank said.
Barclays said its data shows many scams originate on technology platforms, such as websites, social media and dating apps.
Survey findings from Barclays suggest nearly third (32%) of people feel pressured to make a purchase as quickly as possible to make sure they get the best deal.
Advice to avoid purchase fraud:
⚠️Use secure payment methods recommended by reputable retailers ⚠️Use a credit card for purchases between £100 – £30,000 to receive protection under Section 75 of the Credit Consumer Act ⚠️Read online reviews to check websites are genuine pic.twitter.com/ADnU96Z3NG
— Take Five (@TakeFive) November 9, 2022
Ross Martin, head of digital safety at Barclays, said: “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.”
Barclays is urging buyers to follow four steps this Black Friday (November 25):
1. Research and read reviews to check the website and the seller are genuine.
2. If you can, view the item in person first to make sure it exists, especially if it is a big purchase, such as a smartphone or a car.
3. Get a second opinion. Always speak to someone you trust for a second opinion, whether it is a friend, family member, or your bank.
4. Be wary of unlikely offers. Many purchase scams offer huge discounts that you would not tend to find at retailers you would normally trust. Remember, if a deal seems too good to be true, it probably is.