As shoppers prepare for the upcoming Black Friday and Cyber Monday sales, Bank of Ireland has issued a warning about the heightened risk of fraud during these high-traffic shopping days. The bank's alert comes in response to significant increases in spending and the corresponding rise in fraudulent activities targeting consumers.
The bank highlighted that last year's Black Friday saw a 54% spike in spending compared to an average Friday, with notable surges in clothing and electrical goods purchases, which jumped by 104% and 100%, respectively. This pattern of heightened spending is expected to continue, bringing with it an increased opportunity for fraudsters to deceive consumers.
Nicola Sadlier, Head of Fraud at Bank of Ireland, stressed the importance of vigilance during this time. She warned customers to be wary of deceptive links in emails, texts, and social media pop-ups that could lead to counterfeit websites designed to steal sensitive banking information such as full online banking PINs and activation codes.
To combat potential threats, consumers are urged to:
- Avoid sharing personal banking details.
- Scrutinize website addresses for any irregularities.
- Ensure that they are transacting on trusted websites displaying the "https" and lock symbol, indicating a secure connection.
- Keep their anti-virus software updated to fend off malware.
Sadlier also cautioned against fake advertisements and the false sense of urgency often associated with them, advising customers to think twice about offers that may seem too good to be true.
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