With Black Friday fast approaching, Nationwide Building Society has issued a stark warning to UK shoppers, particularly younger generations, about the surge in sophisticated scams proliferating on social media platforms.
The New Frontline for Fraud
Ahead of the major shopping event next week, a revealing study shows that for the first time in the UK, social media is now the main channel for online scams, accounting for a staggering 34% of all reported incidents. The research highlights that Generation Z is in the crosshairs, being twice as likely to be scammed compared to older demographics.
Annya Burskys, Nationwide's Head of Fraud Operations, explains how criminals are exploiting the unique features of popular apps to target young shoppers hunting for bargains.
Platform-Specific Scams to Watch For
On Snapchat, fraudsters are preying on users under 18 searching for clothing, trainers, watches, and even fake IDs. The platform's disappearing messages feature leaves victims with virtually no evidence once the scammer has vanished.
Instagram sees fraudsters deploying convincing pop-up advertisements that perfectly mimic well-known brands. Users click through, believing they are on a genuine website, only to never receive a confirmation email or the products they paid for.
TikTok has experienced a surge in fake influencer giveaways. Scammers promise high-value prizes like cars, vouchers, and bundles but require an entry fee. The critical detail? The competition does not actually exist.
How to Protect Yourself
Nationwide urges shoppers not to be frightened but to be vigilant, offering essential tips to stay safe.
First, take your time. If a deal feels rushed, it is typically a red flag, as scammers frequently use urgency to pressure shoppers.
Annya cautions people to think very carefully before purchasing anything directly through social media, especially outside of official in-app stores. She reiterates the golden rule: "If it sounds too good to be true, it probably is."
The building society also advises shoppers to scrutinise the URL and merchant name carefully before parting with any cash. If possible, avoid clicking on Instagram ads altogether and instead go directly to the retailer's website via Google or their official app.
Furthermore, genuine giveaways never ask for payment. Always verify an influencer's status and cross-reference any giveaway announcements on their other social media platforms.
When making a payment, always opt for secure methods and avoid bank transfers unless you are absolutely certain of the seller's legitimacy.
What to Do If You Are Scammed
If you fear you have fallen victim to a scam, you should report it immediately to your bank or building society, as well as to Action Fraud.
Nationwide offers its customers a 24/7 fraud line and a Scam Checker service. The society promises a full refund if it approves a payment that later turns out to be fraudulent.
While these tips focus on the specific risks found on social media, consumers are reminded to stay extra vigilant across all online platforms during the busy Black Friday and Christmas shopping period.
