As Black Friday and Cyber Monday approach, security experts advise caution for online shoppers. David Shipley, CEO of Beauceron Security Inc., warns of increasing fraudulent activities on social media and search engines, emphasizing the surge in malicious ads.
Shipley highlights the impact of artificial intelligence in enabling sophisticated online scams, making it crucial for consumers to be vigilant during these shopping events. He recommends directly visiting trusted websites rather than relying on search engines or social media platforms for purchases to avoid falling victim to convincing fraud.
Shipley suggests monitoring credit card transactions for any irregularities and stresses the importance of supporting local businesses to minimize risks associated with online shopping. He notes that online scams do not discriminate based on age and urges people to exercise caution, especially with the rise of advanced technological fraud methods.
Larry Zelvin, head of financial crimes at the Bank of Montreal, echoes concerns about heightened online fraud during this period. He advises shoppers to beware of urgent sales offers and unfamiliar vendors selling goods at significantly discounted prices. Additionally, Zelvin cautions parents about monitoring children’s online purchases, particularly through social media apps like TikTok.
In the event of suspected fraud, Zelvin encourages individuals to report incidents to their financial institutions without hesitation. He emphasizes the importance of using credit cards instead of debit or gift cards for added protection against scams due to the potential for transaction reversals.
While acknowledging the joy of holiday shopping, Zelvin underscores the necessity of remaining vigilant to safeguard against online threats. It is crucial for consumers to stay alert and take proactive measures to protect themselves during the holiday season.