As the highly anticipated shopping events of Black Friday and Boxing Day draw near, the National Anti-Scam Centre’s Scamwatch has published a report highlighting nearly 160,000 scam incidents reported from January through September this year.

Among the various scams, those conducted online were predominant. These typically began with interactions on social media, or through counterfeit advertisements and websites, leading to financial losses amounting to $122 million.

Industry experts are advising consumers to stay vigilant against potential scams during Black Friday. This period, now recognized as the largest sales event of the year, is when shoppers are keen on securing the best deals.

“Black Friday is a prime time for scammers,” noted Catriona Lowe, Deputy Chair of the Australian Competition & Consumer Commission (ACCC). “They exploit the rush for bargains by creating a sense of urgency and pressure typical of this bustling shopping season.”

To date, nearly 20,000 shopping scams have been reported this year, with expectations for this figure to climb as the year comes to a close.

These scams have led to Australians losing $8.6 million, marking a 19 percent increase compared to the previous year.

Scammers are increasingly gaining access to people’s social media accounts, and then send targeted messages to their friends and followers, who have no idea they are speaking to a scammer.

“You should be aware that online friend accounts can be compromised, so avoid clicking on any links and always do your own checks before paying money,” Lowe said.

The data from Scamwatch also found vulnerable communities are being targeted in increasing numbers.

There have been a 12 per cent rise of people with a disability being scammed, and a 35 per cent rise for those who speak English as a second language.

Lowe encouraged people to talk to their loved ones about the issue of scams, saying starting a difficult conversation can help combat a debilitating problem.

“Starting an honest conversation about scams can take away the fear and embarrassment that often stop people from speaking up,” Lowe said.

“Listening with compassion and without judgement helps them feel supported and understood.”