Stay safe on Black Friday – NZBA

CEO dishes out tips for safe online hunting

Stay safe on Black Friday – NZBA

New Zealand Banking Association (NZBA) is encouraging consumers to be vigilant and verify online deals to avoid falling victim to scams during the Black Friday and Cyber Monday sales events.

NZBA CEO Roger Beaumont (pictured above) highlighted the heightened risk during the festive season and shopping events, as the cost-of-living crisis makes getting a bargain more tempting than ever.

“Scammers use this time of year and these shopping events to target unsuspecting customers, especially for online shopping deals,” Beaumont said in a media release.

This is especially true, he said, for online shopping deals.

“It pays to take special care when shopping online, especially if you see a deal that seems too good to be true,” Beaumont said. “It’s easy to check if you’re dealing with a legitimate merchant, for example, by checking the website address and payment options and reading online reviews for the company.

“It’s worth taking a moment to check who you’re dealing with online before parting with your money and your personal information.”

Tips for safe online shopping

To stay protected while shopping online, NZBA provided the following safety tips:

  • Shop with trusted retailers. Stick to reputable merchants that are easily accessible online and avoid providing personal details through links in texts and emails.
  • Check website security. Ensure the website address begins with "https" and ends with a recognised domain name (e.g., .org, .com, .nz). Verify the site’s legitimacy through an additional search if you arrived via a link.
  • Read independent reviews. Before making a purchase, read reviews of the website to identify potential scams, as scammers may mimic reputable brands.
  • Verify payment methods. Be cautious of payment requests via gift cards, as cyber criminals prefer these methods for their difficulty to trace.
  • Evaluate deals realistically. If an offer seems too good to be true, it probably is. Verify the legitimacy of heavily discounted deals, especially if they differ from in-store offerings.
  • Report suspicious activity. If you suspect a scam, promptly report it to your bank for assistance in recovering your money.

NZBA has also launched initiatives to combat scams, including public awareness campaigns. For additional information, visit NZBA’s website.

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