don't get burned by black friday and cyber monday online shopping scams
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with black friday and cyber monday nearing, consumers are warned to be vigilant with their online shopping habits.
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an expert in online security says consumers need to be vigilant to avoid online scams as they head into black friday and cyber monday shopping.
larry zelvin, head of the financial crimes unit at bmo financial group, said shoppers are at risk due to the growing level of threats, many powered by artificial intelligence.
black friday falls on nov. 28, but many companies are already offering sales.
“ai has made scams more convincing and harder to detect,” said zelvin in a news release. “fraudsters can now mimic trusted brands and voices with alarming accuracy. consumers need to be more skeptical than ever.”
while consumers should always be aware of potential online scams, the rush to get the best deals during this high-traffic shopping period makes people vulnerable to fraudulent activity.
in canada, more than two million consumers have been scammed during past black friday or cyber monday events.
during u.s. thanksgiving-cyber monday in 2024, 2.6 per cent of online transactions were flagged as fraudulent, a 51 per cent increase year over year in canada.
during u.s. thanksgiving-cyber monday in 2024, 2.6 per cent of online transactions were flagged as fraudulent, a 51 per cent increase year over year in canada.
here are a few ways to avoid being the victim of a scam while shopping online.
black friday and cyber monday are busy online shopping days. should i be concerned year round?
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- scammers are active throughout the year, but their efforts intensify around major shopping events like black friday and cyber monday. during these times, the surge in online purchases, urgency to grab limited-time deals and increased consumer distraction create conditions that scammers can take advantage of more easily.
- consumers need to stay vigilant throughout the year. use secure payment methods, verify websites and avoid clicking on suspicious links or offers that seem “too good to be true.”
is there a specific demographic that scammers target?
- scams can affect anyone. scammers target all age groups and demographics. however, certain populations can be more vulnerable:
- seniors are often targeted due to a perceived lack of familiarity with technology or online security practices.
- young adults can be particularly susceptible to social media scams, online shopping fraud and phishing attempts.
- it’s important to remember that scammers exploit trust, urgency and lack of awareness. education and vigilance are key for all age groups.
how do i ensure a website is safe?
always double-check website addresses (urls) before making a purchase. fake sites often use subtle misspellings or unusual domain endings to trick shoppers. be cautious with new websites or social media pages.
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what are some of the emerging scam trends?
ai-powered fraud: scammers use ai to create fake retailer websites, phishing emails and deepfake videos that impersonate trusted brands or influencers.
qr code scams: fraudsters embed malicious links in qr codes found in ads, emails or packaging.
tiktok shop scams: fake influencer accounts and counterfeit products lure shoppers into phishing traps.
digital pickpocketing: criminals use contactless payment devices to skim data from phones or wallets without physical contact.
how can i protect myself when shopping online?
- don’t click on links in emails or texts; go directly to retailer websites.
- verify urls and look for https security indicators in the address.
- use credit cards, which offer stronger fraud protection than debit cards or payment apps.
- be skeptical of urgency; limited time offers are a common scam tactic.
- research unfamiliar sellers before buying, especially on social platforms.
- make online purchases through personal wi-fi networks. if purchases must be made on public networks, use cellular data or use a virtual private network (vpn).
what should i do if i am a victim of an online scam?
- report the incident to your financial institution. if you’ve experienced a financial loss, time is critical. the sooner you notify your bank or credit card provider, the greater the chances of stopping unauthorized transactions or recovering funds. while recovery is not guaranteed, acting quickly significantly improves the likelihood.
- contact local law enforcement. filing a police report helps document the incident and may assist in investigations.
- notify relevant agencies, such as the canadian anti-fraud centre. this helps authorities track patterns and warn others.
- monitor your bank accounts and credit cards. consider placing fraud alerts on affected accounts to prevent further misuse of your personal information.
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