Black Friday Survival Guide: 10 Ways to Outsmart Scammers

Love it or hate it, Black Friday has become a regular part of our lives.

The phrase actually originated in 1869 as a descriptor of the day the US market crashed – the effects of which would be felt by the American economy for years. It later morphed into a label for the dopamine-driven, post-Thanksgiving rush of Americans to the shops; the money they spent put retailers “in the black” for the rest of the financial year.

More recently, it’s become a global phenomenon that has retailers rubbing their hands together in greedy glee.

Here in South Africa, the fact that we don’t even celebrate Thanksgiving, and have experienced precisely none of the history that spawned the bargain-bagging shopping frenzy in the first place, clearly doesn’t stop us jumping on the buying bonanza bandwagon.

Every year, millions of South Africans are seduced by the siren song of delicious discounts and the promise of eternal smugness at not only getting our Christmas shopping done early but saving heaps of money in the process.

This year, experts predict that Black Friday will boost the local economy by close to R90 billion. The Bureau of Market Research shows that South African retailers will generate additional revenue of around R22 billion directly from Black Friday sales, as well as R28 billion in indirect economic impact.?

Wholesalers, too, stand to gain big, with predicted additional sales of just over R32 billion, and a further R6.2 billion in fuel sales.

Unfortunately, however, there is a dark downside to all this carefree splashing of cash.

Black Friday is not only great for retailers and wholesalers, it’s also become a very happy (and lucrative) hunting ground for scammers looking to prey on bargain-blinded consumers. When you’re focused solely on getting a great deal, it’s all too easy for your Spidey sense to desert us – just when you need it most.

For example, worrying stats from UK-based Barclays Bank show FOMO is responsible for 25% of shoppers being pressurised into buying something without applying their usual level of caution. What’s even more concerning is that one in five British consumers admit that they’re willing to risk being scammed to secure the best Black Friday deals.

We’re not faring any better here at home in South Africa.

Digital wallets, such as Google Pay, Apple Pay and Samsung Pay, accounted for 37% of all online purchases in 2023 and may reach close to 50% in 2024.?

“This shows a broader shift in consumer behaviour toward more convenient, efficient payment options,” said Dr Belinda Rathogwa, Standard Bank’s Head of Digital and eCommerce.?“However, cybercriminals also view this shift as an opportunity, prompting them to target online shoppers during Black Friday.”

Data from Standard Bank shows these scams are prevalent throughout South Africa, and while close to 40% are reported in Gauteng, KwaZulu-Natal’s accounts for 18%, and the Western Cape, 15%.?

The South African Fraud Prevention Service says there’s been a 32% surge in incidents of fraud this year so far – with figures expected to rise sharply this month as Black Friday fever really takes hold.

All our major banks have issued warnings to their clients to be especially vigilant at this time, especially when it comes to fake websites and social media sites selling goods that don’t actually exist.

Ulrich Janse van Rensburg, Chief Fraud and Analytics Officer at Absa Everyday Banking, says these are known as deposit scams, and although they happen throughout the year, they’re particularly prevalent during events such as Black Friday and Cyber Monday.

The practice is particularly rife on sites such as Facebook Marketplace; customer make a purchase, no goods arrive, and the seller blocks the consumer thus preventing any further follow up or communication.

Incidents involving fake e-Commerce websites, and phishing emails that trick consumers into handing over their personal information and bank details, are also common.

Of course, we’re not suggesting that you avoid Black Friday shopping. Hundreds of legitimate retailers offer genuine deals during this time, and you can save considerable money by taking advantage of them (although remember: it’s only a bargain if you wanted/needed to buy it anyway).

However, it is worryingly easy to be duped during this bumper buying time, so please be very careful before making those final, committal clicks.

Here are our 10 top tips for shopping safely and securely this Black Friday:

1. As with emails at every other time of year, keep your eyes peeled for any spelling and/or obvious grammar mistakes in emails you receive. If you’re unsure, check the sender’s email address as an extra precaution.
2. Be very wary of unfamiliar e-Commerce sites, especially those that don’t direct you to a 3D Secure page to confirm your payment.
3. Try to only buy from trusted, verified sources. Read all transaction details carefully and ensure that any OTP is for that specific transaction only.
4. Avoid using public computers, public Wi-Fi, or someone else’s phone to access your online banking.
5. Remember online merchants DO NOT need your ID number, login details, or date of birth to process your payment, but online scammers use this information to steal your identity.
6. Always read reviews of sellers before purchasing from them - shoppers often highlight bad experiences they’ve had with fraudulent sites as a warning to others, so doing a bit of research up front is time well spent if it stops you making the same mistake.
7. Never click on a link in an email or ad – no matter how legit they might seem. Always go directly to the company’s website and use your bank’s Account Verification Service to double-check beneficiary account details before making any electronic transfers.
8. Take your time. Never shop in a hurry and plan your purchases in advance. Do your due diligence on retailers beforehand, and stick to a pre-determined budget.
9. Trust your instincts, if something feels “off” or the seller starts pressurising you, walk away fast.
10. Notify your bank immediately if your device is lost or stolen and always delink any unused, sold, lost, or stolen devices from your online banking profile.

Following these tips and using a little savvy and common sense will help you enjoy your bargain buys and stop Black Friday from becoming Bleak Friday.