With every Blackfriday, it is expected that millions of purchases will be made worldwide, motivated by the significant discounts that all companies will offer. 

On Blackfriday,  buyers will look for the best deals, and, as happens every year around this time, they will lower their guard and fall into a multitude of cyber frauds and cyber scams. This article explains how to avoid Black Friday scams by shopping safely.

Key Blackfriday Statistics

When the barrage of BlackFriday campaigns arrives, millions of consumers benefit from exclusive discounts, but cybercriminals also benefit from this increased online buying frenzy. 

5 Key data About Blackfriday:  

• Blackfriday is the day with the most online purchases of the whole year.
• Consumers worldwide spend almost  200 billion.
• The average cost per person is $450.  
• 65% of buyers make their purchases entirely online.  
• 90% of consumers spend mainly on technology, clothing, and training.  

That is why we should know how fraud and scams operate in online commerce to prevent it from happening and make it difficult for cybercriminals to work.

What Is Fraud In Online Commerce?

Fraudulent online commerce occurs when a criminal steals a user's payment information or fraudulently acquires bank accounts or cards later to carry out transactions without the consent of their owner.

Each year, on average, more than 32% of Americans report being victims of fraud on their bank cards, doubling the rate from the previous year, according to the US Federal Trade Commission. 

According to experts, online scams and fraud continue to grow yearly, with online fraud increased by 30% compared to the previous year. Online fraud is confirmed to increase twice as fast as online commerce increased by 16% worldwide.

List of 10 Tips to Avoid Being Victims of Blackfriday Scam 

Although there are many different methods of operation, below we offer the tips that eliminate 98% of common types of fraud, which are those that take advantage of the fact that the victim trusts an unreliable source:

• Be wary of surprising or exaggerated offers - If it sounds too good, it is most likely a hoax.
• Before buying, research the website or company for opinions or references.
• Do not click if you receive an offer through WhatsApp, SMS, email, an ad on a social network, or a pop-up window. Access the company that offers this product and service directly from your browser to find out about the offer and buy it if you are interested.
• Never click on a pop-up window with an offer or prize; by clicking, you can install a malicious program.
• By system, be wary of any link other than "HTTPS: //...", as this implies that they do not have a reliable digital certificate.
• Whenever possible, shop on the websites of national companies:  most frauds and scams occur in foreign companies. You can check where the company is from in the Terms and Conditions that are usually at the bottom of the page.
• Never enter your personal or bank details using a free or open public Wi-Fi: always pay from a secure internet connection.
• Pay from a secure device with the latest operating system updates and updated and activated antivirus.
• If you pay with your bank card, it is more likely that you can get your money back since most banks have fraud insurance.
• If you suspect it may be an attempted fraud, promptly report it to the police so they can investigate it and prevent others from falling for the scam.

Cybera is focused on ensuring that institutions and individuals stay safe and protected from financially motivated crimes.