As Black Friday 2024 approaches, the excitement for massive discounts and unbeatable deals is natural. However, it’s important to be aware that this shopping bonanza also brings an increased risk of cyber scams and fraud.

With cyber threats becoming more sophisticated, it’s crucial that shoppers stay informed and protect their personal and financial information.

According to a recent statement from the UK’s Cyber Security Chief, Richard Horne, the festive sales period now experiences a noticeable spike in cyber incidents, dubbing the event a “prime time for cyber criminals, who exploit bargain hunters with increasingly sophisticated scams”.

With victims of shopping scams losing over £11m between November 2023 and January 2024, according to reports from the GCHQ’s National Cyber Security Centre (NCSC) and Action Fraud, the importance of remaining vigilant during this period cannot be understated.

Cyber criminals continue to employ ever more ruthless tactics to exploit consumers’ enthusiasm and lowered guard during these sales.  Utilising AI platforms allows them to develop increasingly convincing scams and makes fraudulent offers even harder to detect.

Though many of these scams include fake listings for products on social media sites, the evolution of AI means whole websites can be created to list fraudulent products and steal financial information.

However, there are steps you can take to protect yourself this Black Friday:

1. Use secure connections only

Always use secure, private Wi-Fi connections when making online purchases.  You never know who might have access to your information when you use a public Wi-Fi network.

2. Update your software

Ensure your devices, including smartphones and laptops, have the latest security updates and antivirus programs installed.

3. Create strong, unique passwords

Use strong and unique passwords for all different retail sites. Consider using a password manager to keep track of them securely.

4. Employ two-factor authentication

Enabling two-factor authentication (2FA) adds an extra layer of security, making it harder for cybercriminals to access your accounts, even if they are able to access your password.

5. Beware of phishing scams

Be sceptical of emails or messages that demand urgent action, such as providing personal information or clicking on unknown links. In 2024, phishing attacks have grown more cunning, blending seamlessly into regular communications. Be wary of clicking links and downloading files.

6. Shop wise, pay safe

Be cautious of deals that seem too good to be true or with merchants demanding payment through unconventional methods like direct bank transfers or cryptocurrency. Official retailer websites and trusted payment systems offer more security.

7. Do your research

Ensure you’re shopping on reputable websites or stores. Look up reviews, ratings, and feedback from previous customers. Compare prices across different platforms to ensure “discounts” aren’t inflated prices reduced to appear like a deal.

Black Friday is an exciting time for both shoppers and retailers, by following cyber security best practices and maintaining a degree of scepticism towards online offers, you can protect yourself from becoming a statistic.

Stay alert, keep your software updated, and prioritise security over convenience to ensure a safe and enjoyable shopping experience. If you find yourself the victim of a cyber incident, ESA Risk can help you with your response to the attack and to make you cyber-secure in the future, through the design and execution of a strong cyber security plan. Contact Ben Brown, Cyber Security Consultant at ben.brown@esarisk.com, on +44 (0)843 515 8686 or via our contact form.