ANZ warns of Mother's Day shopping scams

Scammers trick consumers with fake deals and websites

ANZ warns of Mother's Day shopping scams

News

By Mina Martin

As Mother’s Day approaches, ANZ is emphasising the importance of vigilance against online shopping scams.

Scammers often exploit the sentimentality of occasions like Mother’s Day to trick consumers through sophisticated fake deals and websites.

Jess Bottega, ANZ’s senior manager for customer protection, stressed the necessity of recognising these fraudulent tactics.

“Scammers on social media can mask as legitimate brands, or other people, to trick victims into scams of many shapes and forms,” Bottega said.

Surge in scam activity

Recent data from the Australian Competition and Consumer Commission (ACCC) highlighted a concerning rise in scam reports, particularly those initiated via social media.

ACCC found a 30.6% increase in social media scam reports, with financial losses topping $93 million in 2023, a 16.5% jump from the previous year. Over three-quarters of these scams originated from social platforms, according to ANZ customer data.

See LinkedIn post here.

ANZ’s proactive measures to counter scams

To counter the rising threat, ANZ successfully blocked more than $106 million in potential losses due to cyber scams last year, marking a 38% increase in prevention compared to the previous year.

ScamWatch statistics reveal that Australians lost more than $650,000 to online shopping scams in the first two months of 2024 alone, though this figure represented a 36% decrease from the same period in 2023.

ANZ on how to avoid falling victim to scams

ANZ and security experts recommended several strategies to safeguard against scams:

  • Avoid clicking directly on social media links which could lead to counterfeit websites designed to harvest personal data.
  • Verify the authenticity of online retail URLs and conduct independent research before making a purchase.
  • Look for independent customer reviews of online stores, especially those that are unfamiliar.
  • Be cautious of unconventional payment methods like direct bank transfers or gift card payments.

“Be aware of any brand advertising unusually low prices, and always conduct an independent search for retailers’ websites to ensure legitimacy,” Bottega said.

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