14 November 2025: The Customer Owned Banking Association (COBA) is warning shoppers to be on the alert for scammers targeting bargain hunters this Black Friday and Cyber Monday.
“This is a peak season for scammers because they exploit the urgency created by limited-time sales. Under this pressure to grab a great deal, customers are less likely to spot a scam before making a payment or clicking on a link,” COBA Head of Financial Crimes and Cyber Resilience Martin Latimer explained.
“If something appears suspicious or too good to be true, it probably is. Trust your instincts, but to be on the safe side, it’s best to stop, take a few minutes to check the offer and the website’s legitimacy to protect yourself,” he added.
According to the National Anti-Scam Centre, there have been almost $8.7 million reported losses from shopping scams in 2025.
One of the most common tactics used by scammers is setting up ‘phantom’ websites that are designed to trick even the savviest shopper.
“Scammers are experts at creating convincing fake websites that closely resemble legitimate retailers. Pay close attention to the domain name, because even a small typo could mean you’re on a scam site,” Latimer advised.
Shoppers are encouraged to verify the site’s legitimacy by looking out for a privacy policy, terms and condition, or even contact details – many fake websites don’t include this level of information. If you are shopping on an Australian website, you can use the Australian Domain Authority’s website register to see which company or trademark registered it.
Phishing is another tactic criminals use to steal your personal and financial information, such as login credentials or credit card details.
Scammers will send unsolicited emails or text messages pretending to be legitimate retailers, delivery companies or payment processors, in an attempt to trick shoppers to click on links or download suspicious attachments.
“A common phishing tactic is a scammer sending an email or text message about a sale or delivery, urging you to click on a link. These links then lead to fake websites or download malware onto your device,” Latimer explained.
“Never open attachments from unknown senders, as they may contain malware. Instead, always go directly to the retailer’s official website.”
Finally, before making any online purchases, Latimer advises to ensure your payment is protected. Check that the website shows “https” and a padlock icon to safeguard your financial information.
“Stick to trusted and secure payment methods, which often have built-in buyer protection and fraud prevention features to help safeguard your purchases. Scammers will often encourage you to use untraceable payment methods, like wire transfers or cryptocurrency, so avoid these,” he added.
If you think you have encountered a potential scam, report it to ScamWatch.gov.au immediately and help protect others. If you have been scammed, report the transaction(s) immediately to your bank or financial institution.
Customer-owned banks are dedicated to safeguarding their customers from scams and fraud and joined forces to launch the Scam-Safe Accord with the Australian Banking Association. This industry-wide initiative represents a united front against scammers and reinforces the banking sector’s determination to strengthen consumer protection. Find out more about the Scam-Safe Accord here.
ENDS
For further information or to arrange interviews, please contact media@coba.asn.au.
The Customer Owned Banking Association is the industry body for mutual banks, credit unions and building societies. For almost 180 years our sector has put customers first, returning profits to more than 5 million Australians who put their trust in customer-owned banks.