Standard Bank has warned of a surge in Black Friday scams, with criminals using increasingly sophisticated tactics to target unsuspecting consumers.
Standard Bank has warned South Africans of a rise in scams as the country heads towards Black Friday, with increasingly persuasive tactics being used by criminals.
The study by the Bureau of Market Research showed that South African retailers will generate R22 billion in additional direct revenues from Black Friday sales this year and R28 billion in indirect economic impact. The bank said the convenience of online shopping has resulted in more clients purchasing goods and services online.
“However, cybercriminals also view this shift as an opportunity, prompting them to target online shoppers during Black Friday,” Rathogwa said. Phishing attacks continue to be a significant threat, wherein fraudsters send deceptive emails pretending to be legitimate companies such as retailers, streaming services, and banks.
Another increasingly common tactic is the goods scam and online purchase scam, where fraudsters promote heavily discounted deals through social media.
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