Lloyds Bank reports that tens and thousands of UK customers are being fooled by fake shopping websites.
Yahoo Finance reports that the bank claims customers who used their credit or debit cards were tricked into purchasing items they never received, resulting in a loss of $6 million (8 million PS) to scammers.
Social media is used by scammers to pose as well-known brands in an attempt to fool victims into believing that the products they are buying on these fake sites are genuine.
For example, a “SM Wallet’ company posed as House of Fraser luxury clothes store, Office shoe store, Superdrug pharmaceuticals giant, and other companies.
The products advertised online were either not available, a ripoff at a lower price, or completely incorrect.
One customer ordered Dior fragrance but received instead a child’s ring.
According to Lloyds, these types of scams are responsible for a 211% increase in disputes over credit card payments.
Gavin Evans, senior manager for consumer cards at Lloyds Bank, says,
When we see a great deal online, it is tempting to buy it. However, rogue retail stores use social media sites to advertise significant discounts for goods that they do not intend to deliver.
“If something seems too good to true, then it probably is.”
Lisa Webb is a consumer law specialist at the consumer group Which. She warns that consumers should double-check domain addresses of websites they intend to buy from.
Domains ending in.net and.org rarely are used to conduct online business, so it is best to be skeptical about them.
If the price is low and you feel pressured by a countdown timer, this should raise alarm bells. You should be wary if the price is too low or if you feel pressured to buy by an alarming countdown.
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Sources of Images include Pixabay Creative Commons & Midjourney
The report may change as new information becomes available.
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