SYDNEY – As the festive season reaches its peak with heightened gift purchasing, Westpac has alerted consumers to a significant increase in shopping scams, which have surged by 47% compared to the previous year. These scams often appear as social media advertisements and fake online storefronts promoting highly sought-after items at unusually low prices. In the wake of major sales events such as Black Friday and Cyber Monday, Westpac processed over 31 million transactions and reported a corresponding rise in fraud-related inquiries from customers by approximately 5%. Ben Young, a representative from Westpac’s anti-fraud department, highlighted the vulnerability of consumers during times of increased spending and their potential focus on finding bargains. Westpac’s proactive security measures have been crucial in…
