Black Friday is increasingly being exploited by scammers, turning it into “Black Fraud Day,” according to Britain’s cybersecurity chief.
According to The Guardian*, criminals are using AI to create sophisticated scams, targeting shoppers eager to save money during the cost-of-living crisis. The festive season is now a prime time for cybercriminals, with over 16,000 reports of online shopping fraud recorded between November 2023 and January 2024 in the UK. Victims lost an average of £695 each. Social media platforms were mentioned in 43% of fraud reports, and online marketplaces in 18.9%.
Fraudulent Black Friday deals can land in a variety of ways from traditional targeted phishing emails to adverts found in webpages. Furthermore, interesting bargains advertising on social media are often not vetted to the same high standard people may assume plus they can look convincing enough for people to part with their cash in a matter of moments.
This can be amplified with impressed AI technology that can accelerate the speed in which people are targeted and rarely will a scam go out with an old-fashioned spelling or grammatical error. People tend to be manipulated even easier when their friends and contacts share deals with them in messaging apps or in group chats.
These may not always be verified and could even come from compromised accounts which are difficult to spot. Making sure you don’t feel rushed into purchasing an item can save people from being scammed. Research and due diligence with new websites can help protect people’s hard-earned cash.
by Jake Moore, ESET
*ESET does not bear any responsibility for the accuracy of this information.
ESET Ireland 