Cyber Monday -- the biggest online shopping day of the year -- is here. And while shoppers hope to score online deals on big ticket items like Apple electronics and smart TVs, fraudsters are hoping to capitalize as well.
“Scammers will be out in full force with all kinds of devious ways to get your attention and get your money,” says Steve J. Bernas, president, and CEO of the Better Business Bureau. “Be alert for misleading advertisements, lookalike websites, and untrustworthy sellers.”
According to retail experts, shoppers this year on Black Friday broke an online sales record, topping $9 billion for the first time ever. Cyber Monday, consumers are predicted to spend even more, and that trend is expected to continue through the holiday season.
"The consumer can expect to see a fairly competitive in terms of price landscape over the next you know few weeks as we head towards the deadlines to get it before the holidays," said Nick Kaplan, Chief Growth and Innovation Officer at the Saadia Group.
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Unfortunately, as special holiday deals and online shopping continues, more opportunities for fraudulent activity can come with it, the BBB notes.
"That means scammers working overtime," Bernas said.
If you're hunting for holiday deals across the internet this holiday season, the BBB recommends keeping these tips in mind:
- Beware of phony websites. "If a company is selling the hottest item of the year at a price that seems too good to be true, it probably is," the BBB says." Keep an eye out for fake websites by double checking the web address, scanning for the correct spelling, legitimate contact information, and secure web addresses that begin with "HTTPS." "Scammers love to create lookalike websites that, at first glance, appear to belong to a trusted retailer," the BBB says.
- Price check before you buy. Using comparison sites like Google Shopping or Camel Camel Camel will help you compare prices. "Remember that the 'best deal' may not be the real deal," the BBB says.
- Pay with a credit card. According to the BBB, credit cards offer more consumer and buying protection than debit cards. "If any shady charges turn up later, you will be able to contest them through your credit card company," the BBB says. "Debit cards don't offer the same protection. Never make purchases with online sellers by giving them prepaid debit cards or wiring them money."
- Read the fine print. Make sure you are aware of return policies specifically for Cyber Monday, as they may be more restrictive. "Be aware that stores may not allow returns for “final sale” or “closeout” items. Make sure to get gift receipts, so the recipient can return or exchange the item if necessary."
Additional tips and advice can be found at BBB.org.
