Scammers operate all year long, but they intensify their operations during the expensive Christmas season to take advantage of the generosity of people and the numerous promotional offers of companies, known as Black Friday. They build complex websites to fool you into paying for goods you’ll never receive while stores like Amazon, Jumia, Konga, Best Buy, and Walmart roll out offers throughout the holidays.

In this article, you will gain more insight on the various scamming strategies and tactics you may have a chance of falling into.

Sophisticated scams and how to identify them

1. Fake transactions:

This is one of the most used tactics adopted by scammers. It can be a text message that a buddy shared to you or an Instagram post with a tempting offer. Excited to get your hands on it, you click a link, and then you find yourself inputting your credit card information and personal information.

However, nothing you “buy” will ever be sent to you, and you’ve already handed up your personal information which will be hacked into and you could lose a large chunk of the money you have saved throughout the year.

2. Hijacking of a verification code:

Malicious callers may frequently pretend to be your bank or another business with whom you have an account. This is one type of scam that is popular. When there is a problem with your account, the con artists will claim they are contacting you to verify your identity.

The con artists turn the tables and gain access to your password with just one click by pretending to be an official firm. They can use the code you’re giving them to get into your account using two-factor authentication or to execute a payment.

3. Phishing scams

Phishing scams occur when online fraudsters send you emails, SMS texts, or social media communications while posing as legitimate companies in an effort to trick you into disclosing personal information or credit card numbers.

Additionally, they could send you harmful links that when clicked on, could wreck havoc on your gadgets. Cybercriminals may easily disguise themselves as being a part of the wave of legal marketing activities that many companies conduct in the lead-up to Black Friday.

4. Gift-Card Fraud

In this fraud, an online retailer will demand that you use a digital gift card or voucher to make your payment. Gift card purchases cannot be traced, so if a criminal gets your gift card information, there is no way to get your money back. One in four scam victims, according to the Federal Trade Commission [FTC], said they used gift cards as payment.

Gift card generators made to install malware that locates the buyer’s cryptocurrency wallet address on the blockchain are among the latest gift card scams that have emerged as a result of the use of cryptocurrencies as a payment method.

5. A website that requests you install an app

Just as you prepare to make an online purchase, it appears that using the app is the only method to take advantage of this special offer. It’s true that certain internet retailers may provide mobile app users access to exclusive offers. But use caution.

When a retailer requests that you download their app in order to make an online purchase, you should run away. Most likely, someone is coercing you into installing a malicious program that will take your credit card information.

How to avoid them

1. Conduct research

Online scams are frequently difficult to detect because fraudsters are employing more complex strategies to steal our hard-earned money. According to Webb, people should constantly be on the lookout for unexpected emails or messages requesting for personal information. If you have any doubts, don’t reply and instead get in touch with the business.

2. Use a password manager to generate robust, secure, and one-of-a-kind passwords:

Unfortunately, many businesses no longer offer refunds to clients who voluntarily provide a security password. Therefore, it is important that you secure your passwords using two-factor authentication or any other means you can use.

Password managers are instruments that do more than just keep track of your complicated passwords, assist you in creating new ones, or shield them from hackers. Of course, they accomplish all of that, but they may also simplify your online purchasing process.

3. Avoid offers that sound too good to be true:

Truth be told, there are some offers you see online that you can almost attest that they sound too good to be true. Once you come across such type of offers it is important to second guess them, do your research, find out from friends or colleagues if they have purchased from them and the quality too before purchasing.

4. Verify stores when using gify cards:

Verify that the store has terms or conditions on their website and only transmit money using a secure means, such a credit card or Venmo, to recognize this kind of fraud.

To examine reviews for specific stores and websites, you may also conduct a Google search.

5. Shop at trustworthy websites:

Using well-known websites, which undoubtedly vary from nation to nation, is the simple way to go. But don’t let it deter you from shopping at small companies’ online stores.

Instead of just clicking on a random link, enter in the retailer’s URL yourself to determine whether a website is reliable. Watch out for grammatical errors and other warning signs, and make sure the website is HTTPS-secured.