Visa blocks 410% more suspected fraud this Black Friday

The block comes as fraudsters target UK shoppers

In the UK, Visa saw an 11% increase in transaction volumes on Black Friday 2024 compared to Black Friday 2023. This is also an increase of 16% compared to an average Friday. Across the whole Black Friday/Cyber Monday weekend, spend was up 12% compared to last year.  

However, as consumers hunted for bargains, fraudsters were also looking for their own payday. This Black Friday, Visa’s network proactively blocked 410% more suspected fraud in the UK compared to Black Friday 2023. Across the whole weekend, the suspected fraud blocked by the network was up 117% compared to last Black Friday weekend.

Mandy Lamb, managing director Visa UK & Ireland, said: “Black Friday is a clear fixture in the UK’s shopping calendar, and this year is no exception. But it is also a good reminder that whenever people are looking to spend their hard-earned money, there are also fraudsters looking for potential victims. At Visa, our network protects every transaction no matter how big or small, helping consumers shop safely and securely all year round.”

This Black Friday, Visa also recorded the most popular areas where people used their Visa cards. Supermarkets were the most popular shop on Friday, representing 45% of all spend on the network, followed by restaurants, with 31% and retail with 12%. 

The news is no surprise, with Rivero advising banks to brace for spike in cardholder disputes.

Image: Blake Wisz on Unsplash

Robert Welbourn Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.