Texas shoppers lose
$550 PER SCAM
during Black Friday season, study finds
Texas shoppers are losing an average of $550 per fraud report during the Black Friday shopping season, according to a new study by data collection group SOAX.
The analysis of Federal Trade Commission fraud reports from the fourth quarter of 2021 through 2024 also shows Texas reports 125.91 scams per 100,000 residents, earning the state a risk score of 52.3 out of 100.
The study highlights the growing danger of online scams as shoppers seek deals during the holiday season. Fraudulent offers and schemes increase significantly during Black Friday and the festive period, with Texas residents frequently falling victim.
Nevada ranks as the most at-risk state, with 182.3 fraud reports per 100,000 residents and an average loss of $727.50 per report, giving it a score of 94.1. Alaska and Florida followed as the second- and thirdmost vulnerable, with scores of 81.8 and 81.7, respectively.
Alaska reports fewer scams per capita but sees one of the highest average losses at $756.67. Meanwhile, Florida’s average loss of $623.74 is accompanied by 169.26 fraud reports per 100,000 residents.
At the opposite end of the spectrum, Mississippi ranked as the least at risk, with a score of just 7.95. The state reported 103.09 fraud incidents per 100,000 residents, with an average loss of $374.50 per report.
SOAX CEO Stepan Solovev cautioned consumers to remain vigilant during Black Friday.
“The rush to secure a bargain can sometimes lead to scam vulnerability,” Solovev said. “Consumers should shop safely by sticking to trusted retailers, verifying website security, and monitoring bank statements for suspicious activity.”
The report also offers tips for staying safe, including enabling two-factor authentication, avoiding public Wi-Fi for purchases, and steering clear of deals that seem too good to be true.
Shoppers in Texas and beyond are encouraged to exercise caution as the holiday season kicks into high gear.
