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Showing posts with label Holiday Scam. Show all posts
Scam
2FA Cash App Cyber Security Data protection Financial Fraud Holiday Scam Identity Theft Money Transfer Scam

Fallen Victim to Zelle Scams During the Holiday Season

Identity theft is a serious concern at a time of rapid technology development and digital commerce. It becomes essential to strengthen our defenses against potential cyber threats as we negotiate the complexities of internet platforms and financial services. Identity protection must be prioritized immediately, as shown by several recent instances. 

A thorough analysis by CNET states that as more people become aware of the significance of protecting their personal information online, there is a growing demand for identity theft protection services. The paper emphasizes that because hackers have become more skilled, protecting sensitive data needs to be done proactively.

The holiday season, a time of increased financial activity, poses additional challenges. Fraudsters exploit popular money transfer services like Zelle, Venmo, and Cash App during this period. As we enter 2023, it is crucial to be aware of potential threats and adopt preventive measures. Emily Mason's analysis serves as a wake-up call, urging users to exercise caution and be vigilant in protecting their accounts.

One of the prevalent scams involves Zelle, as reported by sources. Victims of Zelle scams find themselves ensnared in a web of financial deceit, with the aftermath often leaving them grappling for solutions. Refund scams, in particular, have become a cause for concern, prompting financial experts to emphasize the need for enhanced security measures and user education.

To fortify your defenses against identity theft and financial fraud, consider implementing the following recommendations:
  • Employ Robust Identity Theft Protection Services: Invest in reputable identity theft protection services that monitor your personal information across various online platforms.
  • Enable Two-Factor Authentication (2FA): Add an extra layer of security to your accounts by enabling 2FA. This additional step can thwart unauthorized access attempts.
  • Stay Informed and Vigilant: Keep abreast of the latest scams and fraud techniques. Awareness is your first line of defense.
  • Regularly Monitor Financial Statements: Review your bank and credit card statements regularly for any suspicious activity. Promptly report any discrepancies to your financial institution.
  • Educate Yourself on Common Scams: Familiarize yourself with the modus operandi of common scams, such as refund fraud and phishing attempts, to recognize and avoid potential threats.
Safeguarding your identity in the constantly changing world of digital transactions is a shared duty between users and the platforms they use. People can greatly lower their chance of being victims of identity theft and financial fraud by being informed and taking preventative action. As technology develops, maintaining the integrity of our personal data increasingly depends on taking a proactive approach to security.

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Phishing Scams
Black Friday Cyber Crime Holiday Scam Holiday Season Holiday Shopping Phishing Scams

How to Stay Protect From Cybercrimes in This Holiday Season?


As the Christmas month is almost here, online consumers are increasingly turning to online shopping, making it also a festive season for threat actors to conduct cybercrime activities.

Because of the increase in e-commerce and the sizeable number of online buyers, fraudsters have access to a wider network of prospective victims. Thus, they have more opportunities to steal money as a result.

Peter Olyott, CEO of financial service company, Indwe Risk Services (Indwe) says, “Shoppers tend to be more relaxed during the festive season, making them more susceptible to overlooking suspicious online activity, and the abundance of special offers and deals during this period makes scams more believable,”

According to a report published by Interpol, online scams pose the most significant threat to consumers regarding cybercrime. They note that cybercrime activities tend to escalate over Black Friday and the holiday season. 

In order to mitigate the risk of cybercrime and stay secure, online users must know some of the common cybercrimes. Here, we are mentioning some of these common cybercrimes:

  • Fake Website: These are made to look like real brands, making it difficult to tell them apart from scammers. But frequently, they offer discounts and offers that seem too good to be true. Cybercriminals take advantage of the opportunity to steal critical information when unwary buyers click on these bargains and divulge their banking information.
  • Phishing Schemes: Phishing involves sending emails that trick recipients into downloading attachments, clicking on links, or creating accounts. Phishing emails can easily slip through the cracks this season due to the deluge of holiday-themed mailings.
  • Fake Gift Cards: These are an effective way for financial thieves to steal money. Gift card transactions are almost impossible to charge back, in contrast to credit card transactions. Scammers use a variety of strategies, including assuming the identity of trustworthy businesses and demanding payment in the form of gift cards, creating phoney gift card activation websites in order to obtain personal data, and posting phoney gift cards with discounts on websites belonging to other parties.

How to Stay Protected in this Black Friday? 

Here are some of the safety measures one can take to protect themselves in this holiday season:

  • Regularly check electronic statements and debit/credit card balances. 
  • Go with strong, unique passwords for different accounts. 
  • Set up two-factor authentication on all significant accounts, including social media, banking, and email.

“Given the increasing sophistication and escalation of cybercrime, we strongly encourage consumers to exercise caution while shopping online during the holiday season. By remaining alert for anything suspicious, you can protect yourself from falling victim to cybercrime, so you can enjoy a happy and safe festive season,” adds Olyott.  

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Technology
Automation Cyber Attacks Cybersecurity E-Commerce Holiday Scam Holiday Shopping Technology

Automation: Give Yourself the Gift of Secure Holiday E-Commerce


A brand-new year is on our way, and so are the tremendously awaited holidays. These holidays are for everyone, even a retail sector employee, for whom it is also the busiest time of the year. Nonetheless, this time offers ways to increase one's chances of a fun-loving and peaceful holiday with friends and/or family. 

The holiday season has just arrived, it is finally giving the overworked, and over-stressed cybersecurity engineers a chance to consider a break. 

But the holidays, unfortunately, would not deter the threat actors from lurking in the cyber world with their malicious intentions. We will be discussing some of the ways that could mute these malicious actors. 

One of the methods that work like a magic at times like these is Automation. If one would want to keep the tip of the scales in their favor for these holidays, he must cede the tasks of cybersecurity to the trustworthy good-bots. 

Here are some of the cybersecurity groundwork to set, in order to save holiday time for oneself.

Making Sure New Accounts Are on the Good List 

The creation of new accounts is probably going to increase during the holiday season for anyone who is not in B2B. New sign-ups are not exactly unusual, whether it is because people want to purchase something from your website or because they simply have more time to spare around the holidays. Additionally, there will be those taking advantage of the New Year's bargains and sales, using up their departmental budget from the previous year while they still can, and registering the warranties on gifted products. 

Unfortunately, this also indicates a perfect time for malicious actors to create illicit accounts, in order to evade detection in online traffic. In the medium to large enterprises that experience high volumes around this time, the sheer volume of new account creation prevents manually checking each one. 

Thus, many of the malicious bots choose this time of the year to create a large number of illicit accounts. Although, these accounts would most likely not do any harm, at least for a while. But one would not want these accounts to simply exist, sit around and develop since they can further be utilized for a variety of malicious cyber-activities and attacks. 

Thus, before setting oneself on holiday mode, one must make sure that the automated account validation services are operating properly. In order to keep the same in check, ensure to run some tests, ensure that the bots are being caught when making new accounts, and double checking the associated logging and reporting functions. 

Keeping Inventory Numbers Accurate for Santa

It takes a lot of effort and hard work in order to establish an inventory that would aid in surviving the holiday rush. But, this may as well go down the drain if some mean-spirited competitors or threat actors mess with the systems.  

But this is not uncommon for threat actors to execute such attacks on holidays as such. They make this happen by utilizing botnets that are capable of messing with the inventory via stockout, or denial-of-inventory attacks. These attacks include placing fraudulent orders and reserving them only to cancel once the holiday rush is over. 

Thus, it is advised to keep a check on the automation and detect any illicit stockout activities. Below are a few more tips before you sign off for the holiday season. 

  • It is advised to conduct an analysis of seasonal false positives from previous holidays, the week before the business closes for the holidays. Make sure to have a good concept of what those impressions look like if you anticipate being hit with false positives. One must accomplish this task before leaving for the year if he can develop more precise filters that will detect the evil folks but let them sleep in on Boxing Day.  
  • Since social media click frauds are rampant at this time of the year, one must make sure that their automation covers all the social media profiles, or it may lead to reputational damage before the social media could get a hold of it once the holidays are over. 

Cybersecurity would be the last thing to have in the back of the minds of people, and even cybersecurity officials, who are hurrying out of the workplaces at the end of the year. 

The solution is automation, for one can set up automated protections once and enjoy greater security permanently, it works as a fantastic stress reliever. Giving opportunity to people, to enjoy their holiday season in the best way.  

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User Privacy
Canada Cyber Fraud Holiday Scam Internet Scam Online fraud Scammers User Privacy

Customers are Advised to Exercise Caution as Internet Frauds Approach Record Levels

 

Online shoppers are being advised to exercise additional caution as the holiday shopping season draws to a close and the pressure to find the ideal gift builds. 

Scams, according to the Canadian Anti-Fraud Centre, the local police, and the Better Business Bureau of Vancouver Island, are at an all-time high. 

Fraudsters are most active in times of crisis, such as the one we are currently experiencing, when consumers must simultaneously contend with rising interest rates, rising inflation, and the holiday shopping frenzy, according to Rosalind Scott, CEO of the BBB Vancouver Island. 

“People, when they’re desperate to get a little bit more money, are quicker to believe these scams because they want it to be true,” she stated. 

Scott claimed that despite only 5% of individuals actually reporting being conned, there is a tremendous amount of internet fraud. “But we do know literally millions and millions of dollars are lost every year,” he said. 

More than $380 million US were lost to online shopping scams in North America last year, according to the Better Business Bureau's Scam Tracker, marking a rise of 87% since the tracker's introduction in 2015. 

The tracker stated that almost 36% of all allegations of online retail fraud originated from a fake website and that 40% of reported frauds were started by con artists using social media and email. 

Experts’ advice 

The Canadian Anti-Fraud Centre noted that in a bulletin released just before Black Friday and Cyber Monday, the two busiest online shopping days of the year, fraudsters have flooded social media feeds with deals that seem too good to be true while "spoofing" websites and email addresses — creating addresses that look like they come from a trusted or legitimate source — to entice unsuspecting customers. 

“Unfortunately, fraudsters and cybercriminals use holiday promotions to continue to victimize people. The best way to protect yourself and those around you is by learning what fraud and cybercrime look like and report it,” stated Chris Lynam, the centre’s director general. 

This means that customers should be on the lookout for warning signs like prices that seem excessively low, complicated payment procedures, poorly designed websites, stores that omit vital information like return policies, privacy policies, and contact information, online stores that lack security features, or websites with misspelled URLs. 

Online fraud is probably underreported, according to Victoria police Const. Terri Healy, because it is hard to investigate and most consumers interact with their credit card providers and financial institutions directly.  

Healy advised customers to shop with reputable online merchants, constantly check their credit card and bank statements for any unusual or suspicious behaviour, and steer clear of offers that look "too good to be true. Education and knowledge are your finest lines of defence against fraud. Discuss it if someone has been a victim of fraud or a scam. Inform your family, friends, and coworkers."

Consumers should never store credit card information in a web browser and should only make online purchases on private Wi-Fi networks, not public ones, according to the Canadian Anti-Fraud Centre. Use cellular data or create a virtual private network if transactions must be done over open networks. Additionally, they encourage conducting research, reading reviews, and exercising common sense. 

According to the centre, frauds involving online purchases or sales of products or services cost Canada more than $21.1 million in damages in 2021. Over 47,000 victims nationwide have reported $420 million in fraud of all types over the first ten months of this year. 
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