Ways to Dodge Online Scammers this Cyber Monday

With Cyber Monday here once more, it’s easy for online shoppers to get caught up in the madness in a bid to bag a bargain. However, in the pursuit of finding the best deal possible, we can often overlook, or ignore, the warning signs that what we’re buying and where we’re buying from might not be all it seems.

The fraud team at banking service Monese, have shared their tips and tricks to keep consumers safe on Cyber Monday and to aid in protecting your money online:

• Lockdown the URL – When inputting sensitive information, especially financial information on a purchasing page, make sure the URL starts with ‘https’. The ‘S’ means it’s secure.
• Avoid bank transfer buying – Try to use a trusted payment source only. Professional merchants usually will have websites that support a variety of payment options. Fraudsters tend to prefer bank transfers.
• Watch out for those ‘hidden’ subscription traps – Have you ever looked at your account to see a recurring charge that you didn’t expect and didn’t order? A subscription trap occurs when a consumer is purchasing online and is tricked into buying additional products or services that they don’t need. Many have been stung by these types of subscription traps. Over the coming days, check your balance very closely.
• Protect your most valuable asset, your data – When making purchases online, think twice if you’re asked for additional personal and sensitive data. Are you being asked for ID, passport or driving licence numbers? Or even National Insurance numbers? These details are irrelevant to your purchase. Your identity could end up getting ‘stolen’ and used to commit unscrupulous things.
• Beware fake “IT Support” – Some scammers can give the impression that the website you’re visiting has ‘frozen’ and urge you to call a support team to fix it. During the phone call, these scammers can masquerade as major computer companies and persuade you into believing that your computer is riddled with viruses. In reality, it is not and you’ve passed over sensitive information unnecessarily.
• Buy from trusted sites only – Buying from third-party sellers, including some social media stores, offers no refund policies and are a haven for fraudsters looking to steal your money.

Norris Koppel, Founder and CEO at Monese, says: “Cyber Monday is a great opportunity for consumers to get some early Christmas deals from reputable and trusted retailers. However, it also offers plenty of opportunities for fraudsters to get you to part with your money, make their way into your bank account, or even get their hands on your sensitive and personal data.

“Consumers should stay alert when making purchases online and question anything that doesn’t look or feel right. Over the coming days, take the time to keep a close eye on your account to make sure everything’s in order. If you are in doubt, contact your card provider to ask for advice, or if you believe you may have fallen foul of any scam.”

With Monese, users can open a full UK current account and Euro IBAN account in under two minutes, with one form of ID and a video selfie, without the need for a credit score check.