- Revolut finds that only 17% of us feel ‘very confident’ when it comes to identifying fake websites
- About two-thirds use trusted websites and avoid unknown links.
- 4% admit they do nothing at all to protect themselves online
One in 10 millennials are expected to do most of their Black Friday shopping on social media platforms like Instagram, TikTok and Facebook, and yet two in 10 have already been scammed while shopping online.
Most scammed millennials lost between £100 and £250, with 7% losing more than £1,000, and this is the age group most confident in spotting scams.
New data from Revolut has revealed that only 17% of Brits feel “very confident” in identifying fake websites or scam offers – but it’s combating this with some top tips to weed out malicious activity.
Revolut explains how to avoid scams this Black Friday
Revolut says it is concerned that the growth of social commerce (such as TikTok Shop) has made scams harder to detect, with scammers often imitating genuine brands and using fast-moving platforms to quickly disappear.
“As shopping increasingly moves to social media platforms, fraudsters are getting smarter at imitating trusted brands,” shared Revolut’s head of financial crime, Woody Malouf.
British consumers say they use trusted websites or apps (66%), avoid unknown links in emails and ads (60%) and check website URLs (39%) to protect themselves, and while all of these measures are valid preventive measures, not enough consumers are taking them.
Checking URLs is one of Revolut’s main messages, highlighting that scammers often clone retail sites to steal money and personal data. But it may not always be so clear: keeping an eye out for new stores on social media with suspiciously positive reviews or being wary of “too good to be true” prices are also effective in identifying scams.
“The best defense is caution; if it’s too good to be true, it often is, and always buy from trusted websites with good reviews,” Malouf concluded.
With 4% of Brits taking no precautions and many more not doing enough to protect themselves, the message is clear. Despite being aware of preventive measures, consumers do not use them.
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