The research shows how many millennials become scam victims during the global sale
During Black Friday global sale, bargain hunters lose an average of £661 each after falling victim to Black Friday scams, Barclays says. Younger people are the most likely to be targeted by criminals, due to massive tech discounts. 1 in 4 (24%) of millennials have been duped over the past 5 years after being attracted by advantageous offers.
According to Barclays, the list of the most commonly scammed items of the year 2018 included TVs, laptops and tablets, smartphones, and headphones. In 2019, criminals were actively using social media to trick customers into revealing their personal information or transferring money. All of these shopping scams accounted for 60% of all reported bank transfer scams, worth a total of £27.9 million.
Criminals tend to post fake ads on social media, offering cut-price deals on non-existent products, and turning to the ‘digital skimming’ of personal information such as card data from online shoppers. More than half (55%) of the millennials surveyed wouldn’t feel concern if faced with a deal that looked ‘too good to be true’, and only 31% would think twice before making a payment through a social media advert.