Americans are anxious about online scams during Black Friday and Cyber Monday | finder.com

Americans are anxious about online scams during Black Friday and Cyber Monday

Peter Terlato 24 November 2017 NEWS

Internet shoppers beware of credit card hacks, viscous malware and email and text phishing scams.

Many Americans make most of their annual online purchases between Black Friday and Christmas. However, this flood of internet shopping is a fortuitous opportunity for hackers to steal personal financial information.

Web security company Netsparker recently released findings from its 2017 Holiday Survey, revealing two-fifths (44 percent) of Americans’ biggest shopping concern is that their credit card information will be hacked.

The survey found that in 2017, the majority (85%) of Americans will do at least some holiday shopping online.

However, only a third of shoppers (33%) allow websites to save their credit card information. Permissions were highest among 25-34 year-old millennials (39%) and lowest among 55-64 year-old boomers (25%).

Americans also admitted they feared hackers using malware may steal their credit card information (34%), while someone skimming their bank or credit card information at a store (29%) was considered less likely.

More than two-thirds (67%) of survey respondents said they would be much more likely to prioritize visiting a particular retail website if they knew it was enabled with artificial intelligence (AI) cybersecurity software.

Earlier this month, DNS-based cyber threat intelligence company DomainTools posted results from its Cyber Monday Phishing Survey. The findings revealed that two in five US consumers have fallen victim to an online phishing attack, despite most Americans (91%) being aware these types of attacks occur on a regular basis.

The brands most likely to be spoofed and misrepresented this holiday season are also the most popular online retailers. According to the survey, major retailers include Amazon (82%), Walmart (36%), and Target (20%).

Online crime is everywhere. In the UK, holiday shopping reports of fraudulent activity rose by more than a quarter in 2016, according to Action Fraud. There were 15,423 victims last year, with online auction fraud accounting for around 65% of all reports. Thefts totalled US$21.2 million in total, up 45% year-on-year. Last year the most common victims, more than one in ten (13%), were men aged between 20 and 29 years.

When you’re hunting through Black Friday and Cyber Monday deals, be wary of these major red flags for fraud.

Discover five handy tips to protect yourself against online scams this holiday shopping season

From lucrative business opportunities to advance-fee loans, urgent cash for grandparents in distress to online dating prospects, scammers have victimized people for years. Now, Western Union is paying lost money back.

Technology is constantly enhancing the way we manage our finances. The leading US consumer watchdog agency stresses banks need to improve digital services and accessibility in order to better serve customers.

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