Beware, ‘Fraud Friday’ could cost you dear

What are the chances of you becoming a victim of identity fraud? As the nation goes shopping mad this week around what retailers have marketed as Black Friday, there’s a much higher chance of you becoming a fraud victim.

One organisation has renamed the shopping event – when retailers cynically try to flog old stock to unsuspecting punters – as Fraud Friday to warn people that crooks will be out in force to profit from those tricked into thinking they’re snapping up a bargain.

In fact, there’s a double danger facing online shoppers, warns fraud prevention experts Cifas. First are the high number of convincing-looking but fake shopping websites and dodgy emails offering deals. If you fall for their tricks you’ll hand over cash that you’ll never see again.

But that won’t be the end of your problems. The scammers behind the sites are often looking to harvest personal details using malware that ask people to enter their own personal and banking details which they then use to sell on or commit identity fraud.

If you become a victim of that, you probably won’t find out about it until a bill arrives for something you did not buy. It could even hit your credit rating which could create further problems if you need to apply for a mortgage or loan.

Detective Chief Superintendent Dave Clark, from the City of London Police, said: “Identity fraud is the engine that drives much of today’s criminality and so it is vitally important that people take some simple steps to keep their personal information safe and secure. This is especially the case as we enter the Christmas period and millions of us start buying presents online.”

Identity fraud is on the rise. New figures published today by Cifas show a huge rise of 37 per cent in a year. It says there were 129,168 identity fraud victims between July 20114 and June 2015 compared to 94,356 in the previous 12 months.

But Action Fraud warns that online fraudsters watch and wait to capitalise on the biggest shopping frenzies. It says that last year the most common time for victims to initially make contact with the fraudster was on Black Friday and Cyber Monday.

Its figures from last Christmas show that individuals and businesses reported losing £16,426,989 to online fraudsters through online shopping and auction fraud, a 42 per cent increase over the previous year.

Police National Co-ordinator for Economic Crime, Commander Chris Greany said: “When it comes to online shopping if something looks like it is a great bargain it’s probably poor quality, fake or doesn’t even exist. Fraudsters and online criminals are relentless and will stop at nothing.”

The message is clear: be very careful when shopping online and don’t be blinded by thoughts of snapping up a bargain into making an expensive mistake. A typical fraudster trick is to claim that an offer is only available for a short time to encourage unsuspecting buyers into unwise shopping.

The most common item sold by fraudsters last year were mobile phones. followed by footwear, clothing, watches, gaming consoles, computers, furniture and home electricals.

You can reduce the chances of becoming a fraud victim by installing security software on electronic devices, by not responding to unsolicited phone calls and emails and by creating strong personal passwords. MoneySavingExpert has a recommended list of the best free anti-virus software at moneysavingexpert.com/shopping/free-anti-virus-software

Also avoid using public wi-fi for online shopping as it can be hacked or mimicked by fraudsters.

If you become a victim report it to Action Fraud on 0300 123 2040. That could ultimately help stop others falling for the same scam.