The annual Black Friday global sales event is just a few weeks away and online retailers are already dropping deals in an effort to encourage early bargain hunters to spend their hard-earned cash. However, the online sales also provide a golden opportunity for callous criminals to take advantage of people trying to save money during the cost of living crisis.
Google searches for ‘best Black Friday deals’ have rocketed by 400% in the last month, prompting the experts at VPNOverview to share the top five scams to watch out for. While most people are aware of the obvious deception methods cybercriminals use, their tactics are becoming more sophisticated and could compromise your personal and financial information.
Cybersecurity Expert, Christopher Bulvshtein, from VPNOverview, shares five things to look out for ahead of Black Friday, including phishing attacks, fake websites, dodgy browser extensions and verification code hijacking.
Five scam tactics to look out for before Black Friday
Phishing Attacks
Christopher explained that phishing is one of the oldest tricks in the book, but it still works. The Anti-Phishing Working Group (APWG) estimates that attacks tripled from 2020 – 2021. There have already been one million attacks in the first half of 2022.
He said: “Cybercriminals have become adept at perfectly timing and tailoring phishing emails or texts towards specific events throughout the year, including Black Friday.
“Expect to see emails from Amazon asking you to update your payment information, for example. You might also receive emails that look like a genuine delivery notification with pending delivery charges. It’s rare that these are real.”
In order to protect yourself, don’t click on any links within emails. Go directly to the company’s website if you suspect there might be a problem with your account that needs attention.
Verification code hijacking
One common scam is for a malicious caller to pose as your bank or another company with whom you hold an account.
They will tell you there’s a problem with your account and then say that they’re sending a text message to you, with a code to prove your identity.
By posing as an official company, they turn the tables on you. You’re put on the spot and expected to prove who you are.
The reality is that they are the criminal, and they already have your password.
That code you’re handing over will allow them to process a payment or log into your account with two-factor authentication. Unfortunately, many companies will no longer refund customers who willingly handed over a security passcode.
Be sure to use a password manager to create strong, secure, and unique passwords.
Set up two-factor authentication on your essential, high-risk accounts, such as bank, credit, and shopping websites.
Also, never engage with suspicious callers. If in doubt, hang up before calling the company back from the number listed on their official website.
Malicious browser extensions
Many extensions are considered browser hijackers. At best, they could change your browser settings and fill your inbox with spam or phishing emails.
At worst, they could install malware on your device that compromises your accounts and online security in general.
Christopher advises against installing browser extensions that offer shopping discounts, unless you’re certain that they’re safe.
Little-known websites
Be wary of the websites you use to look for Black Friday deals - if you come across lesser-known websites, do your research on them first before spending any money.
Check out websites like TrustPilot and look for social media proof. If there’s very little information, or bad reviews, on the company, it’s better to look elsewhere.
Is it definitely a discount?
Certain websites may increase their prices at the last minute, before applying a percentage discount during the sales. The resulting price makes it appear as if you’re getting a good deal.
In reality, the product could be equally as expensive as it was before the sale began, except now it has an appealing discount sticker.
To keep up to date with the latest scams, join our Money Saving Scotland Facebook page here, or subscribe to our newsletter which goes out three times each week - sign up here.
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