IF YOU SAW this headline and quickly clicked into the article in the hopes that you might find some incredible Christmas bargains, we’re sorry to disappoint you. 

Around this time of year, with so much pressure to spend money, it is easy to be led astray by appealing offers we may see online. In the age of digital media, however, it’s important for us all to be mindful that the internet can be a dangerous place, and that this is especially true when it comes to online shopping and retail scams in the lead-up to Christmas. 

These scams may take the form of a legitimate-looking ad on Facebook or Instagram, they might also take the form of individual vendors who use platforms like Vinted, Depop or Facebook marketplace to scam you out of your money.

While it’s important for everybody to stay vigilant against scams, it is often those of us who spend most of our time online who get complacent, thinking that we’ve seen every trick in the book. Indeed, data shows that while 83% of people rate fraud as a big problem for Irish society, this figure drops to 57% for young people. 

Unfortunately, scammers are always refining their approach, and they’re getting better at it every day. It’s much easier to get scammed than you think. Fraudsters can now quickly create fake websites and fake social media ads that appear genuine. They can even be made to look like brands and companies that you know and love.

This can take the form of a fake ad on a trusted platform, fake offers in peer-to-peer online marketplaces, or fraudulent emails.

When shopping online, there are a few red flags that you should always be on the lookout for. If you get the sense that anyone online is trying any of these tactics, you should be very sceptical about proceeding:

• Urgency/Scarcity:  “Only 2 seats left!”, “Offer ends in 10 minutes.” Pressure makes people skip thinking and act fast.
• Impersonation: Use of well-known brand logos, fake-but-similar company email addresses, fake webpages with limited-time offers, and special Christmas price offers.
• Social proof: Fake reviews and testimonials that make an offer look popular and trustworthy.
• Curiosity: Clickbait headlines tempt people to click before thinking.
• Cognitive overload & complexity: Presenting many confusing details makes people default to the simplest action.

Bank of Ireland encourages everyone to employ their ‘Stop. Think. Check.’ mantra when it comes to suspicious ads on social media.

• Stop: Don’t click on links in pop-up ads on social media
• Think: Does this offer seem too good to be true?
• Check: Always use an official, trusted website to make a purchase. In relation to investments, always talk with a trusted financial advisor.

Don’t be complacent when spending your money online, even if you’re confident in your ability to identify scam ads. Scammers are always changing and improving their strategies, so protect your money, and always Stop, Think, Check.

Visit the Bank of Ireland Security Zone for a range of resources to help you keep yourself safe from online scams.