It’s easy to get caught up in the excitement of Black Friday and Cyber Monday. While there are great deals to be had, there are some discounts that are simply too good to be true. Learn how to spot and protect yourself against cyber scams during this prime holiday shopping season.
Online shopping during Cyber Week (the period that encompasses Black Friday and Cyber Monday), is the busiest shopping time of the year. According to data from Salesforce, Digital sales across Cyber Week reached $298 billion globally in 2023, growing 5% over a year ago. With so many consumers eager for deals – and to check items off their shopping lists – the environment is primed for cybercriminals. In fact, last year, digital holiday shopping fraud in the U.S. was 127% higher compared to the rest of the year.
Here are some tips to protect yourself and your money this holiday shopping season.
Watch out for deals that appear too good to be true
The old adage, “if it sounds too good to be true, it probably is” rings particularly true during Black Friday and Cyber Monday. While there are certainly some great deals to be had online, it’s wise to watch out for discounts that seem too steep – especially if it’s on an item that rarely goes on sale. If you’re seeing discounts of 50% or more, that could be a red flag. Try to do some comparison shopping and take a close look at the website you’re browsing to feel confident that the deal is legitimate.
Look carefully at the websites you’re visiting
With advancements in technology, it has become increasingly easy for scammers to set up websites that look very professional. One common practice is “website spoofing,” which involves a scammer mimicking an existing brand’s site. In other cases, a scammer might set up a fake online store and lure shoppers there via ads on popular sites and social media platforms.
Despite improvements in website design, there are still some tell-tale signs of a fake website that you can watch out for:
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Badly designed sites – including colours or language that doesn’t match your expectations for the brand.
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Strange payment processes – such as no credit cards accepted, a request for gift card payment or anything else that appears out of the ordinary.
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Missing key information or security measures. If a site is missing a return or privacy policy, or doesn’t have contact information, this could be a warning sign. Also, if the URL doesn’t begin with HTTPS or is missing a lock icon beside it, the site is likely fake.
Beware of the fake delivery scam
With the increase in online shopping that takes place during Cyber Week, there is a marked boost in shipping activity too – and this is something else scammers are quick to capitalize on. After all, it’s highly likely that people will have at least one package out for delivery at a given time.
Here’s how a delivery scam works. A scammer posing as a reputable delivery company will send you an email or text notifying you that your package has been delayed or that you owe extra fees for duty or transport. As a result, you need to make a payment before your package can be delivered. You’re then taken to a website where you enter your name, address, and credit card information.
This is an easy scam to fall for, especially if you’re anxious to receive your items before a certain date – you’ll do anything to expedite the delivery of your package! To avoid falling victim, remember to never give your credit card information through a link sent to you by text or email – delivery companies will not ask for payment this way. Instead, track deliveries through the company’s official website using the tracking number provided.
Avoid impulse giving
Scammers aim to take advantage of this giving spirit and set up fake charities. Spinning heartwarming stories and using current events as context, scammers will create ads, emails, and texts in an attempt to compel consumers to give to people or communities in need.
If you do wish to give to a cause you care about at this time of year, be sure to do your own research for the best way to do this, versus clicking on a link for an impulse donation.
How to protect yourself
Shopping during Black Friday and Cyber Monday is all about trying to stretch your hard-earned dollars farther. The last thing you want is for your money to land in the hands of fraudsters. Here are some ways to keep your money safe this holiday season:
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Take the “if it sounds too good to be true, it probably is” adage to heart. Beware of discounts that seem too steep.
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Don’t open unsolicited texts or emails and don’t click on the links within them.
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Never enter your credit card information into a site you reached from a link that was sent to you unexpectedly.
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Don’t save your credit card information in your browser or on a shopping site. It’s safest to enter it manually.
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Buy from familiar brands and double check the website to be confident you’re on their official page.
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If you’re shopping somewhere new, look through the reviews for indications of quality and legitimacy. While reviews can sometimes be fake too, read through them carefully for any strange patterns in ratings or language. Consider doing separate research on the store before you buy.
Searching for great deals and checking items off your holiday shopping list can be a lot of fun. To ensure you get the most bang for your buck this Black Friday and Cyber Monday, consider these tips to keep you and your money safe.
