November marks the beginning of a significant spending period for Australian consumers, with many opting to complete their Christmas shopping during the Black Friday and Cyber Monday sales. In 2023, Australians spent over $1.46 billion during this retail event, with an increase of more than $226 million in spending compared to a typical November weekend.
The upcoming Black Friday sales are set to begin on November 29, 2024. ANZ data suggests that retail spending could rise by nearly 6% year-on-year based on trends observed in October.
With the majority of transactions occurring online—76.5% last year—the sales season is also a prime opportunity for scammers. Scamwatch reported that Australians lost over $330,000 to online shopping scams in November 2023 alone.
Ruth Talalla, ANZ Scams Portfolio Lead, warned: “Scammers often exploit popular shopping events like Black Friday, hoping to take advantage of individuals focused on securing a bargain. During seasonal sales, we generally see a rise in fake shopping websites or advertisements pretending to be reputable Australian retailers.”
ANZ advises customers to verify websites before making purchases and offers several tips for staying safe online:
- Think before you click: Legitimate organizations will not request personal information through email or text links.
- Verify the URL: Ensure it starts with https and ends with domains like .org, .com, or .au.
- Read independent reviews: Check website reviews before entering card details.
- Check the payment method: Be wary if asked for payment via gift card.
- If it seems too good to be true, it probably is.
ANZ's customer protection teams are available around the clock. Customers suspecting they have fallen victim to scams should contact ANZ immediately at 13 13 14 or visit their website for more information.
ANZ has introduced a new Scam Safe series aimed at keeping the community informed about evolving scam tactics and fraud issues. The initiative will focus on cyber security measures and how ANZ is working to protect its customers.
To remain Scam Safe, ANZ recommends customers remember:
A: Always be wary
N: Never share personal information
Z: Zoom in on details
For further information on scam types and protection methods, visit ANZ's security page.