Black Friday & Cyber Monday: How to Shop Smart and Avoid Scams

Preparing for a post-Thanksgiving shopping spree? Keep in mind that Black Friday and Cyber Monday are two of the most popular days for digital fraud. Before shopping online, check out these five tips to help you shop smart and avoid scams over the biggest buying weekend of the year.

Use Secure Payment Methods

When it comes to paying online, not all methods are equally secure. Using a credit card is one of the safest ways to pay online, especially if that credit card is used from within an encrypted digital wallet. A good credit card should offer I.D. theft protection, fraud alerts and zero liability, to protect you if your card is stolen. On top of that, paying with a digital wallet allows you to make purchases using a virtual account number, so your details remain protected.

Some of the least secure online payment methods include wire transfers, payments via gift card, and cryptocurrencies. If a merchant asks you to pay using one of these untraceable payment methods, that’s a strong sign that you may be better off shopping elsewhere.

Beware Fake Retail Sites

A fraudulent retail site looks just like a normal online shopfront. It might appear to be selling clothing, gifts, electronics and so on—with steep discounts which are too good to pass up. Some fake e-shop scammers may accept your payment but never send any products, while others may be looking to steal payment details.

How to ensure you’re not shopping on a fake site? Be suspicious of prices that look too good to be true or retailers who demand payment using wire transfer or cryptocurrency. You can further protect yourself by only shopping via mainstream retailer websites. Always go to these sites directly, rather than clicking through via a social media ad.

Don’t Respond to Unknown Communications

Scammers often approach their victims by sending a communication which appears legitimate. This may look like a payment verification text message, an email from a retailer, or even a phone call from your bank. Sadly, scammers have also been known to impersonate family members using AI voice cloning.

If you are asked for financial information or money by anyone, the first step is to slow down. Scammers prey on their victims’ desire to act fast and solve the problem—so don’t let yourself be rushed. Instead, end the communication as quickly as possible. Then, get in touch with your bank through an official communication channel to discuss the situation and figure out your next steps.

Protect Your Information

When it comes to identity theft, information is worth everything. Scammers are always searching for new ways to steal personal and financial details from their victims. Before the holiday shopping season hits in earnest, take a few minutes to make sure you’re protecting your information and practicing good digital hygiene.

To start, be sure to keep software updated on your laptop and phone, which helps to keep your security patches up to date as well. Passwords should be strong, unique for every account, and regularly updated as well. A password manager can help. Finally, avoid making payments or accessing financial accounts while on a public wi-fi connection, or use a VPN to help secure your information.

Keep the Scam Conversation Alive

Having a conservation is one of the best ways to protect yourself and your loved ones from fraudsters. The more you know about what scams are common, the more prepared you’ll be to recognize a scam if it happens to you. Talking about scams is particularly important if you have people in your life who might be less familiar with online precautions and therefore more vulnerable to scams.

A few popular scams to discuss this season include: a “delivery notification” email with a fraudulent link, designed to download malware if you click it; fake coupons which lead to a fraudulent e-shop; and any kind of request or offer around gift cards, which can be used to orchestrate an untraceable transfer of funds.