Banks are warning shoppers to keep their guard up as they grab a bargain during the Black Friday sales period, after Australians reported losing more than $22 million to buying and selling scams across the past year.
Common shopping scams to watch out for:
- Fake websites and ads – often AI generated and designed to mimic legitimate brands
- Social media marketplace scams – dodgy listings created by AI where you're asked to pay in advance.
- Fake parcel delivery notifications – texts or email about missed deliveries where scammers ask for personal or financial information.
ABA CEO Simon Birmingham said scammers would be out in force as millions of Australians look to grab a bargain over the coming weeks.
"We are headed into a period of heightened shopping activity but unfortunately that also means heightened scam activity," Mr Birmingham said.
"Black Friday is now one of the busiest shopping times of the year and scammers will be using every trick in the book, hoping to swindle you out of your hard-earned cash.
"Criminals are now turning to AI to build fake online stores that mirror legitimate websites, right down to the logos and product photos, and push it straight into your social media feed.
"Double-check you're purchasing from a legitimate website and watch out for text messages about missed deliveries, as this is a common way for scammers to get you to hand over personal or financial details."
Mr Birmingham said banks were working around the clock to stop scammers in their tracks, investing billions of dollars every year to keep customers' money safe.
"Banks are now using Confirmation of Payee to check you're paying the right person, along with payment warnings and delays, and real-time tools that detect and block scams before the money's gone.
"If your bank sends you a warning or holds up a payment, take it seriously and remember to always stop, check and protect yourself from scams.
"If you think you've been caught out, call your bank straight away. The sooner your bank knows, the better chance they have of stopping your money ending up in a scammer's pocket."
