Black Friday, which falls on November 24 this year, is the day when retailers sell off stock for bargain prices. To help you navigate the online Black Friday sales and avoid becoming easy prey, we’ve got some tips to bear in mind.
According to, Tshipi Alexander, Head of Consumer Issuing at Absa, should you find yourself in an unfortunate position of being victim to fraudulent activities on your card – the best measure is to contact your bank immediately to block your card from any further fraudulent activities.
In order for your bank to take the matter forward and for the bank to establish what happened, it is advised that you go to your nearest branch and fill in the required paperwork in person for the bank to understand exactly what has happened. From there an investigation will take place to look at how the fraud took place in an attempt to recover the money but this will differ from each individual case.
Whether you shop in retail stores, online, or both, here are 6 tips that can help;
- Do not use your birth date or birth year as a PIN as criminals may have access to this information should your bag or wallet be stolen.
- Do not save your PIN number on your cellphone.
- Sign the back of your card when you receive it from the bank. If it is stolen, the criminals will find it difficult to forge your signature.
- When giving your card to be swiped, check the details on the card to ensure that they have given back the correct card.
- When using debit or credit card at any point of sale outlet, never allow your card to leave your sight.
- Card fraud can also occur when you give out your card details online, especially if the website you're shopping on isn't secure. Always remember that even giving out 'simple' information like your name, card number, card expiry date and CCV number (the three digit number which appears on the back of the card) can result in fraud being committed on your card.
If you've been defrauded and you call your bank immediately you have a better chance of getting your money back because as it stands banks will only refund customers who have been defrauded on their credit card, debit card or a transaction should it be actioned without the card owners authorisation. This only applies if the customer has not been "negligent” or deceived into making payments.
Stay safe, exercise patience and caution this Black Friday. The safety of you and your money is more important than saving a few Rands. Take your time, examine your surroundings, be skeptical of everything even when it gets chaotic, and don’t let yourself feel rushed (it will only lead to making mistakes).
