01 Jul 2022

Parents urged to talk with children about online security as spending rockets in teenage age group

Parents urged to speak with children on shopping safely online as online spending rockets in teenage age group

Parents urged to talk with children about online security as spending rockets in teenage age group

A fresh warning has been issued to Irish parents in the lead-up to Black Friday sales.

Spending online increased 184% among teens, with a 40% increase in online spending recorded among 18-25-year-olds. 

Parents are being advised to be extra vigilant around teenage children’s online spending security this winter period in the run-up to Black Friday and Christmas. 

Head of Fraud at Bank of Ireland, Edel McDermott said Irish consumers are 'clearly' spending more money in 2021 than for the same period in 2020 and a significant proportion of this is being spent online. This increase in online transactions has multiplied opportunities for fraud. 

"We are strongly advising parents to check in with teens and younger members of their household to ensure they are shopping online securely, and are aware of the simple steps they can take to avoid fraudsters’ tactics to gain access to their banking information as they are shopping online." she added.

Bank of Ireland said fraudsters continue to target busy shoppers in Ireland amid a surge in cybercrime being reported around the world according to Interpol’s November (IOCTA) report.

The banking provider said a snapshot of Irish consumer debit and credit card spending from November 1-10 have shown an increase of 24% in the total online spending compared to the same period in 2020.

Ms. McDermott said consumers are at risk from fake websites and links to bogus offers.

She said: "There has been no let-up in the alarming increase in 'smishing' (fraudulent text) attempts we have witnessed this year. Our advice to shoppers of all ages is simple: stay safe this Black Friday and every day."

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