With retailers everywhere ushering in the holiday season with Black Friday and Cyber Monday deals, shoppers everywhere are on the lookout for great savings. However, always be cautious when you’re out shopping – lurking beneath the flurry of great deals are malicious scam artists who use luxury brands to lure unsuspecting victims. In this article, Infosecurity Magazine will explore how scammers have set out to exploit shoppers this holiday season.
1. The Prevalence of Black Friday Scams
Every year, people are driven to Black Friday and Cyber Monday sales for the promise of huge savings. Unfortunately, these days can also be marred by scams. As the popularity of e-commerce grows, so do the risks. But just how frequent are these scams?
The answer is: quite frequent. Online shoppers are bombarded with fraudulent deals year after year. From counterfeit merchandise to false discounts, there is no shortage of scams waiting to take your money. Worse, not all of them are easy to spot. Some sophisticated scammers even go as far as setting up fake websites to dupe unsuspecting buyers.
The following are some of the most common scams shoppers should be aware of:
- Phishing attempts
- Fake discounts
- Counterfeit products
- Unauthorized third-party sites
- Unexpected fees
Staying vigilant is the best defense against these scams. Consumers should always do their research and verify the authenticity of any site before making a purchase. Additionally, double-check the prices to make sure the discounts are legitimate and authenticated. By being aware and proactive, shoppers can avoid becoming the victim of a scam.
2. How Criminals are Exploiting Luxury Brands
As the desire to own the most luxurious brands and items continues to grow, unfortunately so does the illegal trade in these high-value items. There are various strategies that criminals employ to target luxury brands, as highlighted below:
- Counterfeiting
The production and sale of counterfeit products is a profitable activity for criminal groups, as it is an easy way to make quick money with high returns. Fakes are perfect copies of the original and are often only detectable by experts who know how to identify the smallest flaws. - Mislabeling
Criminals are increasingly mislabeling luxury items to hide their true identity. They will often buy items of lesser value at a discounted price, and then attach counterfeit labels or repackage them to hide their true origin. This allows criminals to significantly increase the value of the item and sell it at a huge retail mark up. - Theft
The higher value of luxury items attracts criminals who will target luxury stores and commit thefts on a large scale. This enables them to make money quickly, as the goods can be sold on the black market or online forums with ease.
Criminals employ sophisticated techniques, tapping into existing infrastructure networks and using contacts in counterespionage, to disguise their activity and to avoid detection. This means that is it difficult for law enforcement and retailers to stop this criminal behaviour. They must constantly be on the lookout for suspicious activity, to ensure criminals don’t have the opportunity to target luxury brands.
3. Protect Yourself from Holiday Scammers
Identity Theft. During this time of year, it’s more important than ever to recognize the signs of someone attempting to steal your identity, often by using fake websites and malicious emails. Be wary of any emails that look suspicious, or any requests for personal information, such as your credit card details, date of birth, bank account details, or Social Security number. If you receive an email that looks dodgy, do not open any attachments, and be sure to double-check that the website it links to is legitimate.
Secure Shopping. Holiday shopping is always a great way to show your loved ones how much you care, but it could also be a way for scammers to access your sensitive information. When shopping online, always check the website you’re on to make sure it is legitimate. Check if the site address includes “HTTPS,” which indicates the site is secure. Additionally, be sure to use strong passwords for all your online accounts and never save your credit card information in any e-commerce sites. Here are some do’s and don’ts of online shopping:
- Do use strong passwords and two-factor authentication for online accounts;
- Do use credit or debit cards for payments, as they are safer than wire transfers;
- Don’t use public Wi-Fi or an unsecured connection for online payments
- Don’t download any apps or plugins from an unknown source
4. Taking Action against Black Friday Scammers
With the hustle and bustle of the holiday season comes a heightened risk of falling victim to scammers. Black Friday is especially targeted by attackers due to the sheer volume of transactions and purchases. It’s essential to know what to look for and how to stay safe.
The first step to taking action is to be aware of all the signs of scams. Criminals use a range of tactics to lure consumers into handing over personal or financial details. Here are some of the most common red flags to watch out for:
- False promotions – Be on the lookout for offers that seem too good to be true. It could be a sign of a scam.
- Unofficial websites – Be sure to only use secure, genuine retailer or vendor-owned websites.
- Spelling and grammar mistakes – Poor grammar or spelling may be indicative of fraudulent activities.
- Requests for personal data – Legitimate sellers don’t ask for personal and financial information, so watch out for any suspicious requests.
The next step is to take proactive measures to secure your online accounts. Start by setting up strong passwords and multi-factor authentication. Make sure all of your devices have the latest security patches applied and use an antivirus and anti-spam program. Consider using a virtual private network for extra security when shopping online. And, always remember to double-check the URL of a site before you enter your payment information.
With brands highly sought after by scammers, don’t forget that your digital safety and security should always come first. Make sure to do your due diligence when shopping for deals this Black Friday and beyond. Keep an eye out for any suspicious purchases or behaviors, and above all, remember to stay informed on the ever-evolving world of online scams. Happy Shopping!
