October has arrived, bringing with it the countdown to the biggest online shopping event of the year—Cyber Monday. Unfortunately, this also marks prime time for cybercriminals to strike. As the best defense is being well-prepared, we're highlighting the most common shopping scams of the season and how you can protect yourself.
Here’s a some essential tips to help you navigate the online shopping season safely:
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Watch Out for "Too Good to Be True" Deals Scammers often lure shoppers with extremely low prices and fake coupons on popular items. If a deal seems too good to be true, it probably is.
Tip: Verify deals by checking multiple trusted retailers. Be cautious of unfamiliar websites and always double-check the URL for spelling errors or unusual characters.
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Use a Credit Card Instead of a Debit Card Credit cards offer more security for online purchases than debit cards because they aren't tied directly to your bank account. They also offer better fraud protection.
Tip: If fraud occurs, credit cards make it easier to dispute charges and limit your liability.
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Look for Secure Websites Fake websites are designed to mimic legitimate retailers. These websites often lack security measures and aim to steal your personal or financial information.
Tip: Before making a purchase, ensure the website uses HTTPS and has a padlock icon in the address bar. Be wary of URLs with minor spelling changes or unfamiliar extensions.
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Check Out as a Guest When online retailers offer the option to check out as a guest, take it. Creating an account stores your personal and payment information on the retailer's servers, which could be compromised in a data breach.
Tip: If you're not concerned with rewards programs or perks, checking out as a guest reduces the risk of your data being saved and exposed.
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Avoid Clicking on Suspicious Links in Emails or Texts Scammers send fake delivery notifications, order issue alerts, or account verification requests via email or text to steal personal information.
Tip: Track your orders directly through the retailer’s official website or app. If you receive an unexpected email or text, contact the company directly through their customer service channels.
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Research New or Unfamiliar Websites Scammers often create fake websites that look like legitimate stores, particularly around the holidays. These sites can steal your money and personal details.
Tip: Before purchasing from an unfamiliar site, do a quick online search to read reviews and ensure the site’s legitimacy. Check if the URL is misspelled or suspicious.
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Don’t Reuse Passwords Across Accounts Using the same password for multiple accounts can be disastrous if one account is compromised. Scammers can gain access to your other accounts.
Tip: Use different passwords for each account. Consider using a password manager to securely keep track of them.
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Monitor Your Accounts with Alerts Set up transaction alerts for your credit and debit cards. Alerts can notify you of suspicious activity or unusual spending patterns.
Tip: Many banks and financial services allow you to set alerts for specific types of purchases, transaction amounts, or geographic locations.
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Be Cautious with Gift Cards Scammers may offer discounted gift cards or ask for payment via gift cards. Once they get the card numbers, they drain the balance, leaving you with nothing.
Tip: Purchase gift cards directly from reputable retailers, and never use them as a payment method for unknown individuals or websites.
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Use Fraud-Detection Services Many banks offer identity theft monitoring, fraud detection, and credit report alerts as part of their services. These tools can help you spot suspicious activity early.
Tip: Consider signing up for fraud detection services through your bank or financial institution to keep an extra eye on your accounts during the busy holiday season.
Nothing worse than finding thousands of dollars in fraudulent charges on your credit card or waiting for gifts from fake websites that never arrive. Cybercriminals thrive on the holiday rush, exploiting the increased risks shoppers tend to take during this busy season. However, by verifying sources, checking website security, and steering clear of unsolicited links, you can safeguard your shopping experience and enjoy the season with peace of mind.