Cyber Monday is one of the world's largest online shopping events, and it's not only about finding the best bargains—it's also an ideal chance for cybercriminals to strike. Millions of consumers visit e-commerce websites, and the sharp rise in online sales creates an ideal environment for con artists to prey on unsuspecting people.
According to estimations, phishing attempts against customers in the UK and Ireland alone surged significantly in 2023*, with 79% of firms reporting that they had been the target of phishing in the previous year alone. Notable incidents from the past few years, such high-profile data breaches, serve as stark reminders of the very real dangers lurking on the internet.
This blog will cover why phishing attempts surge during periods like Cyber Monday, the different types of phishing attempts, the most recent advancements in technology in this area, and useful tips to help you stay secure during this time.
The Rise of Phishing Attacks
Phishing attempts continue to be increasingly cunning, particularly during ‘shopping holidays’ like Cyber Monday. But what exactly is phishing? In essence, phishing is a computer crime where perpetrators assume the identity of actual organisations to manipulate victims into divulging personal data, for example, their passwords, and/or credit card details.
There are various types of phishing:
- Email Phishing: The most common method, where attackers send fraudulent emails that appear to be from reputable companies.
- SMS Phishing (Smishing): Scammers make and send text from mobile devices containing malicious links or asking for sensitive information.
- Voice Phishing (Vishing): Attackers use phone calls to impersonate legitimate entities and extract sensitive data.
Phishing tactics have also stepped up their game lately, and a big part of that is thanks to advancements in AI (Artificial Intelligence). Now, we’re seeing things like spear-phishing attacks that target specific individuals, making them much more convincing. Cybercriminals are also getting crafty with clone phishing, where they replicate legitimate-looking emails but embed malicious links that can trick even the most cautious users. But it doesn’t stop there. With the rise of AI, attackers are using advanced techniques like HTTPS spoofing to make their fake sites look completely legitimate. They’re also leveraging homograph attacks, which involve using look-alike characters in web addresses to confuse users. This means that what might seem like a harmless email or website could actually be a carefully crafted trap designed to steal your sensitive information.
Four Warning Signs to Watch Out for After Purchasing Online this Cyber Monday
When you're shopping online, it's crucial to stay vigilant with order confirmations and delivery notices. Here are four signs that might indicate you're dealing with a phishing attempt:
- Email Address Inspection: Always check the sender's email address for inconsistencies. Scammers frequently use addresses that seem the same but are actually slightly different.
- Language and Tone: Take care of emails that employ urgent or threatening language. Scammers usually exploit feelings of panic to bring you to make the quick decision.
- Mismatched URLs: Please hover over links before clicking them in order to verify that the display text matches the actual URL. If they are not in agreement, then it might be a scammed one.
- Unusual Requests: Legitimate companies will never ask for personal information or login credentials through email. When you get such a request, it is probably phishing.
Also, keep in mind that phishing attempts can occur through SMS (smishing) and voice calls (vishing), so stay alert across all channels.
The Best Defensive Steps to Avoid Phishing Attempts
Protecting yourself from phishing attacks requires proactive measures. Here are some effective strategies which you can begin ahead of the shopping season:
- Educate Yourself Continuously: Stay informed about the latest phishing scams and tactics by following cybersecurity news.
- Secure Browsing Practices: Never use secure connection (check for HTTPS), and do not click on any suspicious ads or links.
- Password Management: Use strong, unique passwords for different accounts and consider employing a reputable password manager.
- Enable Browser Security Settings: Do not allow pop-ups and turn on warnings for suspect sites from your browser.
How to Respond If You Become a Victim
If you become the target of a phishing attack, here are urgent actions which you may take:
- Contact Financial Institutions: Contact your bank or credit card issuer as soon as possible so they know about possible fraud.
- Report the Incident: Please report the phishing attempt to local law enforcement. Also, notify the imitated company so that they may warn other customers.
- Monitor Credit Reports: Monitor your credit reports for any type of unauthorised activity or change.
Stay Safe this Cyber Monday
As Cyber Monday approaches, it's essential to stay informed about the risks associated with online shopping, especially regarding phishing attacks. Remember the key takeaways—stay vigilant about suspicious emails, use strong security measures, and know what steps to take if you fall victim.
For personalised guidance on protecting yourself and your business from cyber threats, consider consulting with ITUS Protect. Follow us on LinkedIn and X/Twitter for the latest updates on cybersecurity news!
Sources
Microsoft Ireland, ‘Cyber Security Trends in Ireland 2023’, Microsoft Security, 2023
https://pulse.microsoft.com/wp-content/uploads/2023/12/Cybersecurity-Trends-Ireland-2023.pdf
