Visa Blocked 280% More Suspected Fraud Payments In The UK On Black Friday Than It Did In 2024

Visa reported a significant increase in fraud attempts during Black Friday in the UK and across Europe. The company blocked 280% more suspected fraud in the UK on Black Friday compared to the previous year and 63% more than the Friday prior to Black Friday. These findings come from Visa's latest analysis of payment activities.

Across Europe, Visa noted a 140% increase in suspected fraud compared to Black Friday of the previous year, and a 40% increase from the preceding Friday. This indicates that fraudsters attempted to exploit the shopping rush, as consumers were more focused on deals.

Visa identified common fraudulent methods during this period, including fake websites, package scam messages, and fraudulent job advertisements. These scams are prevalent during the holiday season when consumers are expecting parcel deliveries and job opportunities.

Fraudulent websites often mimic legitimate brand pages, while delivery scam messages claim parcel delays or additional charges. Job scams typically coincide with holiday hiring. Visa's data helps in detecting suspicious patterns early.

Visa leveraged its security systems to prevent the increase in suspected fraud from leading to completed transactions. The company's Scam Disruption team intercepted over €220 million worth of scam attempts in Europe and more than $1 billion globally within a year. These measures protected consumers during the busiest shopping weekend.

Over the past five years, Visa invested $12 billion in technology and infrastructure, enhancing fraud detection, payment security, and tools to identify suspicious activities across numerous transactions. These tools enabled early detection of fraudulent behavior during the Black Friday period.

Visa highlighted that the holiday season is a prime opportunity for criminals to exploit the festive mood. The company's data reflects rapid emergence of fraud patterns in different regions, with the UK experiencing the most significant increase. Visa's proactive measures ensured security before funds could be withdrawn from consumer accounts.

Visa's analysis of this year's activity identified prevalent scams during Black Friday. Fake shopping sites, which imitate brand names and offer non-existent discounted items, were among the most common. These sites often disappear shortly after launching.

Package scams were also reported, often indicating that a parcel requires additional payment or that delivery information is missing. These messages are convincing during a period of high parcel deliveries. Additionally, holiday job scams, travel scams, and holiday charity scams were noted, targeting individuals planning vacations or making end-of-year donations.

Visa emphasized the importance of vigilance during the shopping season, as criminal groups intensify their efforts. The review of Black Friday activities demonstrated that although fraud activity surged, enhanced detection systems blocked a substantial portion before reaching consumers.

David Capezza, Interim Chief Risk Officer, Visa Europe, stated: “Black Friday remains a critical time for retailers, especially in online shopping. Where there is financial activity, fraudsters are likely to attempt exploitation. Visa's network operates continuously to protect every transaction, ensuring consumer confidence throughout the year.”

Based on reporting by techround.co.uk.