Black Friday: Be careful not to fall for scams

THE Black Friday It arrived in Brazil in 2010, and since then, it has become popular among Brazilians and every year consumers create great expectations for this day, which always takes place on the last Friday of November.

This year (2021), the event will take place on November 26th, however, many establishments extend the promotion period for the entire week, or even the entire month. 

However, Black Friday scams are common and cause many people to lose their hard-earned money. It's no wonder the campaign has been nicknamed "black fraud" in Brazil.

According to ClearSale, a company specializing in anti-fraud solutions across a wide range of sectors, fraud is expected to increase by 52% on Black Friday 2021, so it's important to be very careful so that what's "cheap" doesn't end up being expensive. 

Below, we'll show you some essential tips to help you avoid falling for scams on the day.

In this post, you will see:

• 5 tips to avoid falling for scams on Black Friday
• Fell victim of a scam or fraud on Black Friday? Learn what to do.

5 tips to avoid falling for scams on Black Friday

1. Plan ahead 

If you're planning to buy a specific product on Black Friday and take advantage of the real discounts, start planning now. Research prices throughout the period and see if there's an increase just before the date. 

It's very common for stores to raise prices a few days in advance to offer a big discount and make the promotion irresistible on the day. But for consumers, in the end, the prices would be the same or lower if they had waited for another time. 

Use websites and apps that monitor product prices online. They allow you to see when a product's sales price has increased or decreased. 

2. Be suspicious and pay extra attention 

Whenever you come across a tempting promotion, don't trust it immediately. Check the website for fine print or high interest rates for installment payments, for example. 

Also, take the opportunity to research the store online. In just a few minutes, you can find out how long it's been in existence, whether its customers are satisfied, whether it meets deadlines, and more. 

Social media is a great ally in research. Search store profiles and see what customer reviews have to say.

Also, beware of fake bill scams. Websites that imitate large stores are very common during this time of year.

If you don't pay attention to this part, you could fall into a trap. Always check the bank and beneficiary on the boleto before making the payment. 

In addition to fake bills, emails with misleading offers and redirects to fake websites are also common. Always double-check all information and make sure you're browsing official websites. This precaution makes it less likely you'll fall for scams and lose money on fake purchases. 

3. Be careful with installments 

Keep an eye on the store's installment options. There are cases where the interest charges are so high that the final amount isn't worth it—even if the offer seems tempting and realistic. 

And of course, as much as installment payments may seem like a great idea initially, be sure to evaluate whether they will fit your budget without compromising your ability to pay. Credit cards are a great resource, but they're also a potential culprit. 

4. Use a virtual card 

Are you going to make a purchase online? Choose a virtual card. You can activate it directly in the bank's app, and the number is usually only valid for a certain period of time. It then expires and becomes unusable. 

Some institutions retain the data on the virtual card you created, but allow you to block and unblock it at any time. This means that when you're not using it, you can block the card and make it unusable until it's unlocked. 

5. Don't buy on impulse 

Another very important tip regarding Black Friday and any time of year: don't buy on impulse. This time of year, especially, is more likely to happen, as the discounts offered are more generous. 

Always consider whether you need to buy the item. It's very common for people to go into debt simply because they didn't want to miss out on promotions. Ultimately, low prices may not be worth the headache of paying for products you don't need. 

Did you fall for a scam or fraud on Black Friday? 

If you purchased the products in a physical store, you have the right to cancel your purchase and can return your purchase within 7 days of the item's delivery date. In this case, you can request an exchange or a refund. 

For purchases made online, you also have up to 7 calendar days to cancel your order from the date you receive your order.

Within this period, there is no need to provide any justification for returning the product and receiving a refund. 

But be careful: the customer, not the card issuer, is responsible for this process. You must contact the merchant to request cancellation and refund of the transaction. Then, simply notify the card issuer or bank and wait for the amount to appear on your next statement. 

It's worth noting that there are differing understandings regarding the right to cancel in physical stores, and each case will be considered based on the establishment's internal policy. If you can't reach an agreement with the supplier, contact your local Procon to resolve the issue. 

If you have entered your personal information on a fake website, it is best to take a screenshot and file a police report to ensure your defense in the event of misuse of your CPF or other document.

And if bank or credit card details are involved, in addition to following these guidelines, contact the bank to request cancellation of the card.

Did you pay a fake bill?

The ideal is to seek help from a specialized law firm to initiate action against the fraudster. 

With some precautions like the ones we've outlined, it's easier to avoid falling for scams on Black Friday, especially when shopping online.

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Do you use or have you used any of these options? Have you discovered any other alternatives you didn't know about? 

Take the opportunity to share the content to alert people and show them how to protect themselves from financial scams this Black Friday.

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