Black Friday is coming and that means… SHOPPING! The excitement of finding amazing deals is in full swing. But, this also brings an increase in identity theft and fraud schemes. Cybercriminals are targeting you with scams designed to steal personal and financial information. Check out how to spot these threats and protect yourself from Black Friday scams and holiday shopping identity theft
Understanding the Rise in Holiday Scams
Why Cybercrime Peaks During the Holiday Season
- High Transaction Volumes: The sheer number of online purchases makes fraudulent transactions harder to detect.
- Relaxed Vigilance: In the excitement of snagging deals, shoppers may overlook warning signs of scams.
- Unsecured Connections: Many shoppers use public Wi-Fi, making them vulnerable to cyberattacks.
Black Friday Scams to Watch Out For
1. Phishing Emails and Fake Websites
One common holiday shopping scam is phishing emails and fake websites that look like trusted stores. These scams promise low prices to trick people. In 2023, Kaspersky found over 30 million phishing attacks aimed at online stores, payment systems, and banks.
- What to Look For:
- Emails with urgent language urging immediate action.
- URLs with slight misspellings or unusual domains (e.g., “amaz0n.com”).
- Poorly designed websites with broken links or missing “https://” in the URL.
- How to Stay Safe:
- Avoid clicking on links in unsolicited emails.
- Type the retailer’s URL directly into your browser or use bookmarks for trusted sites.
2. Non-Delivery Scams
Fraudsters often advertise products on platforms like Facebook Marketplace or eBay at irresistible prices, collect payment, and fail to deliver.
- Protection Tips:
- Stick to well-known marketplaces with robust buyer protections.
- Check seller reviews and ratings before making a purchase.
3. Gift Card Scams
Some scammers request payments via gift cards, knowing they are nearly impossible to trace or recover.
- Warning Signs:
- Sellers insisting on gift card payments.
- Emails or phone calls requesting gift card numbers for payment.
- How to Avoid Them:
- Never use gift cards to pay for online purchases.
- Report suspicious requests to the retailer or platform immediately.
4. Typosquatting
During high-traffic shopping periods, scammers register domain names similar to popular retailers. These malicious sites trick shoppers who make minor typing errors.
- Protect Yourself:
- Double-check URLs for accuracy before entering personal or payment information.
- Use search engines to find official retailer websites instead of typing the address directly.
Holiday Shopping Identity Theft Prevention Tips
1. Strengthen Your Online Security
The best way to protect yourself from holiday scams is by implementing robust cybersecurity practices.
- Passwords: Use strong, unique passwords for each account, and consider a password manager to store them securely.
- Two-Factor Authentication (2FA): Enable 2FA on accounts to add an extra layer of security.
- VPNs: Use a Virtual Private Network (VPN) to encrypt your connection, especially on public Wi-Fi.
- Antivirus Software: Keep your antivirus programs updated to guard against malware and ransomware.
2. Verify Retailers
Ensuring the legitimacy of an online retailer is critical before making any purchase.
- Look for “https://” in the URL and a padlock symbol in the browser.
- Research unfamiliar stores by checking reviews and ratings.
- Avoid deals that seem too good to be true—they often are.
3. Use Secure Payment Methods
The method of payment can greatly impact your level of protection.
- Opt for credit cards or payment platforms like PayPal, which offer fraud protection.
- Avoid wire transfers, gift cards, or other non-reversible payment methods.
- Enable transaction alerts on your credit card or banking app to monitor activity.
4. Monitor Your Financial Accounts
Regularly reviewing your accounts can help detect fraud early.
- Check bank and credit card statements for unauthorized charges.
- Sign up for transaction alerts that notify you of suspicious activity.
- Consider enrolling in an identity theft monitoring service.
How to Handle Identity Theft or Fraud
Despite taking precautions, you may still fall victim to a scam. Acting quickly can minimize the damage.
- Report Unauthorized Transactions
Contact your bank or credit card issuer immediately to dispute the charges and freeze your account if necessary. - File a Fraud Report
Notify the Federal Trade Commission (FTC) through identitytheft.gov and report the incident to local authorities. - Monitor Your Credit
Place a fraud alert or freeze your credit with the three major credit bureaus (Equifax, Experian, and TransUnion) to prevent further damage.
Identity Theft by the Numbers
Understanding the scope of identity theft in the U.S. highlights the importance of holiday shopping safety.
- Prevalence: In 2021, 23.9 million Americans experienced identity theft—9% of the population.
- Financial Losses: Victims lost a total of $16.4 billion due to identity theft in 2021.
- Credit Card Fraud: In 2023, 416,582 individuals reported credit card misuse, making it the most common form of identity theft.
Conclusion: Protect Yourself from Black Friday Scams and Holiday Shopping Identity Theft
Frequently Asked Questions (FAQs)
1. What are the most common Black Friday scams?
Phishing emails, fake websites, non-delivery scams, and gift card fraud are the most prevalent scams targeting shoppers.
2. How can I verify the legitimacy of a retailer?
Look for “https://” in the URL, read customer reviews, and stick to well-known platforms or official retailer websites.
3. Should I use public Wi-Fi for online shopping?
No. Public Wi-Fi is insecure and can expose your data to hackers. Use a VPN if you must shop while connected to public Wi-Fi.
4. What’s the safest way to pay online?
Credit cards and payment services like PayPal offer fraud protection and are safer than gift cards or wire transfers.
5. How do I avoid typosquatting?
Double-check website URLs before entering personal or payment information. Use bookmarks or search engines to find trusted retailers.
6. What should I do if I suspect identity theft?
Report unauthorized charges to your bank, file a report with the FTC, and monitor your credit report for further suspicious activity.
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