Black Friday Alert: Common Cyber Attacks to Watch Out
Try listening to our podcast:
Black Friday has evolved into a prominent online shopping event that offers consumers enticing deals while presenting a lucrative opportunity for cyber criminals. Originally tied to Thanksgiving, this shopping festival has expanded beyond a single day, transforming into a week-long or even month-long event filled with sales and promotions. As shoppers flock to e-commerce platforms in search of bargains, cyber criminals are equally eager to exploit this surge in activity. They use various methods, like phishing scams, fake websites, and malware distribution, to exploit the increased traffic and excitement during the shopping festival.
Let’s look at some of the most common Black Friday cyber attacks to protect yourself and your organisation from potential threats.
Black Friday Scams
Chargeback
Chargebacks represent a significant challenge for retailers in the e-commerce sector. This process occurs when a cardholder disputes a transaction, typically involving fraudulent credit card use. Upon discovering unauthorised charges, the cardholder contacts their financial institution to initiate a chargeback. Consequently, the retailer is compelled to refund the disputed amount, resulting in a loss not only of the sales revenue but also potentially of the merchandise, especially if it has already been shipped or delivered. This dual impact of financial loss and inventory depletion underscores the detrimental effects of chargebacks on online businesses.
Fake Websites
Cyber criminals often establish counterfeit websites that mimic legitimate online retailers, enticing victims with high-demand products at significantly reduced prices. To protect yourself from such attacks, ensure the website URL begins with ‘HTTPS,’ indicating a secure connection. Look for a padlock symbol in the browser’s address bar, which further signifies a secure site. Be cautious of poorly designed sites, including low-resolution images or awkward layouts. Legitimate retailers typically invest in professional, user-friendly designs.
Social Engineering
Cyber criminals are increasingly employing social engineering techniques to deceive consumers, particularly in the e-commerce sector. These tactics can facilitate various cyber attacks throughout the year, with a notable increase during high-traffic shopping events like Black Friday. Cyber criminals often use phishing campaigns to obtain access credentials to customer accounts on online retail platforms. By crafting deceptive emails or messages that mimic legitimate communications from retailers, attackers aim to trick users into providing their passwords.
Credit Card & Identity Fraud
During the holiday season, threat actors capitalise on the increased online activity to steal credit card details and digital identities. Credit card fraud involves the unauthorised use of credit card information for illicit transactions, often facilitated through compromised e-commerce platforms. Conversely, identity fraud pertains to the theft of personal information, enabling criminals to impersonate individuals for various fraudulent activities. A notable example of this type of cyber threat is Magecart malware, specifically designed to infiltrate and compromise e-commerce websites. This malicious script targets sensitive information, primarily credit card details and personal data.
Tips To Stay Safe
Operate with Caution
Always verify incoming emails and messages before taking any action. Scrutinise the sender’s email address for authenticity, look for official branding, and pay attention to the tone of the message. Avoid clicking on suspicious links or downloading attachments from unknown sources.
Don’t Rush to Respond
Scammers often employ tactics that create a false sense of urgency, such as fake confirmations for expensive purchases or claims about unauthorised charges. If you receive unexpected communications implying payment is due, verify their legitimacy through official channels, such as contacting the company directly rather than relying solely on email notifications.
Be Wary of Gift Card Scams
Scammers frequently request payments in the form of gift cards. If you receive such a request, check its validity through a trusted source before proceeding. Legitimate organisations will rarely ask for payment via gift cards.
Inform and Stay Informed
Knowledge is a powerful tool in combating scams. Stay updated by following blogs and social media accounts of state and local authorities, which often provide warnings and information about emerging threats. Sharing this information within your community helps increase collective awareness and reduces the effectiveness of scams.
Report Suspicious Activities
If you suspect you’ve fallen victim to a scam, act quickly. Report the incident to relevant authorities, such as your bank or local consumer protection agency. Additionally, inform your employer if it pertains to work-related matters. Change any compromised passwords and enable Multi-Factor Authentication (MFA) to bolster your security.
Conclusion
The e-commerce landscape is increasingly vulnerable to threats, particularly during peak shopping seasons like Cyber Week. From email scams and social engineering tactics to spoofed websites and malvertising, these potential risks pose significant challenges for consumers and retailers alike. The heightened online activity during festive periods attracts enthusiastic shoppers and opportunistic cyber criminals eager to exploit the increased traffic. Given this landscape, consumers must remain vigilant, practice caution, and maintain good cyber security habits. Retailers, too, must bolster their defences to protect their businesses and customers from these evolving threats. By fostering awareness and implementing robust security measures, both parties can contribute to a safer online shopping experience during the festive season.
Stay one step ahead of cyber criminals this Black Friday. Join Cyber News Live for the latest updates on cyber attacks to safeguard your online shopping and data.
