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Black Friday is coming up and you are looking forward to saving some money on Christmas presents. There are lots of offers coming into your inbox so it is difficult to sift through them all but then you see a great bargain from your favourite clothes shop.

You follow the link from the email in the hope of bagging one of the few remaining jumpers you have had your eye on. The website looks identical to the one you have been on many times so you pay your money for the jumper via bank transfer and settle back, content that you have secured a bargain.

The jumper will never arrive, however, as you have fallen for one of the many scams that have caused Black Friday to be called Black Fraud Day by one expert.

This year Black Friday falls on 28 November, but discounts and offers are advertised by some retailers week in advance. The National Cyber Security Centre (NCSC) has warned people to be on their guard in the run up to the day, and to stop the minute a purchase appears suspicious.

The cybersecurity firm Darktrace says there has been a sharp rise in the number of malicious emails mentioning Black Friday through October, with most coming on the last day of the month.

Jonathon Ellison, the director for national resilience at the NCSC, adds: “This is … a time when cyber criminals seek to exploit our increased spending, using trusted brands, popular products, and current events to deceive people into clicking malicious links or sharing personal and financial information.”

The increased availability of artificial intelligence tools means criminals can create authentic-looking websites mimicking famous brands and potentially duping people into handing over money.

They may also create fake small businesses, says Adrian Ludwig of Tools for Humanity, a tech company.

“With AI, fraudsters can now create entire deceptive small-business identities, complete with faces, stories and photo-perfect shops in just minutes,” he says.

What the scam looks like

The offer may come via email or you may see it on social media, posted from an account which was created recently.

The Consumer group Which? says that unrealistically low prices which are inconsistent with other sites should be one of the first alerts.

When you click through you may find a website which is not fully developed. It may not have a privacy policy, a postage address or an “about us” page.

Instead of asking you to pay by credit or debit card, it will request a bank transfer, the preferred method of moving money by organised crime gangs. Website that ask for payment by cryptocurrency should also raise alarm bells.

The illegitimate site may also have an impersonated URL. “Scammers will turn John Lewis into J0hn Lewis (with a zero) … to trick rushed consumers,” said Nathaniel Jones of Darktrace.

There will often be an element of urgency to the sale – the site might say you only have a few minutes to secure the deal, or claim there are only a few items left in stock and that you should act immediately to secure one.

What to do

The NCSC advises anyone who receives an email they suspect is a scam to forward it to the Suspicious Email Reporting Service. Suspicious text messages should be sent to 7726.

If you become a victim of fraud and lose money to a scam, in the UK contact Action Fraud, the national reporting centre for fraud.

But mostly, be alert. If there is anything even remotely suspicious about a sale, stop and think. Try to use a credit card for payments, as in the UK many sales will be protected under the Consumer Credit Act 1974.

This article first appeared on GuruFocus.

Release Date: November 06, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• Pirelli & C SpA (PLLIF) reported organic revenue growth of 3.7% for the first nine months of 2025, driven by a strong commercial strategy in the high-value segment.

• The company maintained a high profitability margin of 16.1%, outperforming peers and demonstrating effective internal management.

• Pirelli’s technological leadership was reinforced through product innovation, including the development of the Cyberdyne technology, which received recognition for its innovation in smart mobility.

• The company has made significant strides in sustainability, with 100% of electricity for its plants sourced from renewables and a focus on eco-friendly products.

• Pirelli successfully reduced its debt by approximately 280 million year-on-year, showcasing effective financial management and cash generation.

• The macroeconomic environment remains volatile, with challenges such as geopolitical tensions, trade tariffs, and exchange rate fluctuations impacting operations.

• Pirelli faces a negative impact from US tariffs, with an estimated gross impact of 60 million for 2025, despite mitigation efforts.

• The company experienced a decline in standard tire sales, particularly in South America, due to increased competition from Chinese imports.

• Exchange rate depreciation negatively impacted financial results, with a 3.4% adverse effect on revenues.

• The automotive market remains uncertain, with volatility in original equipment demand and disruptions in the supply chain affecting future projections.

Q: How do you see the inventory levels overall and for high-value tires, and do you expect any softening in replacement demand? A: Unidentified_3: The stock levels are quite normalized globally. In Europe, due to the winter season, stock levels are high, which is normal. The market replacement in Q4 is expected to be positive, around 4-5% in high-value replacement, with good performance expected in China and Europe, depending on weather conditions.

Q: Are there plans for further efficiency improvements next year, and what impact do you expect from raw materials in 2026? A: Unidentified_3: We plan to continue our efficiency programs, focusing on automation, digitization, and electrification of factories. We expect a tailwind from raw materials, with an estimated benefit of 30-40 million concentrated in the first half of 2026.

Q: What is your perspective on competition from Asian tire manufacturers, particularly in the high-tech segment? A: Unidentified_3: Chinese tire makers are growing in volume and market share but are not affecting the high-tech segment. The technology gap remains significant, with limited presence in the premium segment. In the high-value segment, Pirelli remains well-protected.

Q: Can you provide insights into the governance situation and whether a stock-funded acquisition is being considered? A: Unidentified_2: No stock-funded acquisition is being considered. The government is negotiating to resolve governance issues, but no extraordinary transactions are on the table.

Q: How do you view the pricing environment in the US, and are there any imbalances in the sector? A: Unidentified_3: We are renegotiating commercial conditions in the US to mitigate duties impact, reviewing terms with carmakers and distributors. We do not perceive any significant imbalance in the sector and are managing challenges effectively.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.