Beware as the Black Friday shopping frenzy opens doors for online scams. The offer may look tantalizing, but it might be too good to be true. Do you know how to protect yourself?
Escalating Threat of Online Fraud
The UK’s National Cyber Security Centre (NCSC) alerts consumers to heightened risks of online scams as Black Friday approaches. Last year alone, cybercriminals swindled more than £11.5 million from unsuspecting victims. The losses saw a near £1 million increase compared to the previous year.
These staggering figures highlight the urgency of cybersecurity measures. It’s crucial for shoppers to exercise vigilance in verifying the credibility of deals and online retailers.
To counter this, the NCSC launched a campaign promoting two-step verification. This process adds an extra layer to account security, safeguarding against unauthorized access even if a password is compromised. Cybersecurity experts advocate for implementing these precautions to deter fraud during peak shopping periods.
Guarding Against Tricks and Deceptive Tactics
Cyber scam artists often use tactics that create artificial urgency, such as fake limited-time offers, to dupe consumers. A significant percentage of these scams are facilitated through social media platforms and online marketplaces, with Action Fraud reporting that 43% involved the former and 19% the latter. To mitigate these risks, the NCSC recommends not clicking on suspicious links and researching sellers thoroughly.
Scammers often use your social media profile details to target you. Remember: Your online posts reach more than just your friends, family, and colleagues. Report attempted fraud to the #FBI’s Internet Crime Complaint Center at https://t.co/Cx2qOFy2bL pic.twitter.com/hljUcvkaiH
— FBI Tampa (@FBITampa) November 17, 2024
Remaining cautious and aware of these deceptive methods is imperative. Those between the ages of 30-49 reported the most fraud cases, emphasizing the widespread need for vigilance across age groups during potentially vulnerable shopping times.
Promoting Safe Online Spending
The “Stop! Think Fraud” initiative plays an essential role in educating shoppers. Fraud minister Lord Hanson champions this cause, supporting the discourse around safety and urging people to remain skeptical of too-good-to-be-true offers. Using secure passwords and credit cards during purchases can significantly diminish the chances of falling victim to scams.
Welcome to International Fraud Awareness Week: Day One focusing on Fake Websites
Fraudsters use fake ads and websites to steal debit card details. Once you enter your card info or provide a One-Time Passcode (OTP), they can access your money. pic.twitter.com/IEmGkPWPa4
— St. Paul's Garda CU (@stpaulscu) November 18, 2024
Consulting resources like the “Stop! Think Fraud” website can enhance public awareness of cybersecurity threats. These platforms provide practical advice to foster secure online shopping habits. As Richard Horne of the NCSC highlights, eagerness to unearth deals should never overshadow best online safety practices.