Lloyds Bank warns Black Friday scams are looming with fake Apple, Nike and Lego deals

Lloyds Bank is urging consumers to be vigilant when it comes to the threat of online shopping scams this Black Friday. A new analysis by the high-street bank shows the rate of purchase scams has increased by almost a fifth over the same period last year.  

Black Friday, which takes place this year on November 24, is one of the biggest events in the world for consumers. This year alone, PwC anticipates UK shoppers will spend £5.6bn on Black Friday deals.

With a plethora of discounted items and hot deals to choose from, the event is the perfect opportunity for scam artists to get to work. Lloyds Bank’s fraud experts compared the number of shopping scams reported in November and December last year compared with the year before, and they found that the rate of fraud being reported by consumers had jumped by 18%.

While scam artists commonly go after elderly or vulnerable people, 25-34-year-olds are also falling victim to Black Friday scams. Fake goods are most commonly advertised on Facebook Marketplace or Instagram and more than 70% of cases start on Meta-owned platforms, with young people falling into the trap.

Liz Ziegler, Fraud Prevention Director, Lloyds Bank, said “Online shopping scams come in all shapes and sizes, but the vast majority start with items advertised on social media, where it’s too easy for fraudsters to use fake profiles and list items that don’t exist.

 “When shopping online, the best way to stay safe is to buy from a trusted retailer, and always pay by card for the greatest protection. If you’re unable to do those things, that should be a big red flag that you’re about to get scammed.”

Items listed in fake ads can vary depending on the product or industry. In tech, fake posts include Apple iPhones and Dyson Airwraps, while in fashion Nike trainers and Ugg boots are often included in fake ads.

The surge in demand for the PlayStation 5 over the past year has led the game console to be a common inclusion in scam ads, alongside the Nintendo Switch. Whereas consumers should be extra careful with toys such as Lego sets and drones.

However, the rise of online shopping and the presence of cybercriminals means there are several scams to stay aware of over the Black Friday and festive period. For more information see National World's article, 'Black Friday scams: 10 cyber-frauds to watch out for & how to spot them'.