How to avoid phishing scams on Black Friday

Experts have warned that fraudsters are taking advantage of Black Friday sales to target US shoppers with fake websites and advertisements from major brands such as IKEA, Wayfair and The North Face, after online fraud rates hit a record high in 2023.

A new report published by threat intelligence company EclecticIQ identified campaign using a vast network of fabricated websites using “Trusted Store” badges to lure customers with fake products.

When consumers try to make a purchase, fraudsters steal their personal and payment information. Consumers are often not aware that they have been defrauded until they receive the product.

Online fraud reports in 2023 exceeded potential losses of $12.5 billion, a 22% increase from 2022, according to the data. FBI data. Officials claim that increasingly sophisticated frauds are being used, among others, by: artificial intelligence to power your campaigns.

“Now that everyone seems to be shopping online, the reliance on digital platforms has given these groups a wider attack surface than ever before,” Cody Barrow, CEO of EclecticIQ, told CBS News. “Unfortunately, we will likely see its impact extend into next week.”

Fraud

EclecticIQ says it has identified at least 8,000 fake sites that lure buyers by offering attractive “deals” on popular brands. These sites are not affiliated with the brands they appear to represent, but appear to be official sites and use authentic URLs.

In one example, a site pretending to be Wayfair used the URL wayfairtoday.com. Another site used the URL wayfairblackfriday.com. The site was registered in early November and offered fake “deals” including an $800 mattress reduced to $39.

CBS News also found an ad appropriating the Wayfair logo that redirected users to another fake site impersonating the retailer. On Friday, it was removed from Meta’s ad library. Wayfair told CBS News it actively monitors fraud to ensure customers are protected.

Analysts discovered Mandarin encoding and Chinese IP addresses on the sites, indicating that the phishing campaign was run by a group from China. IKEA told CBS News it is investigating one of the fraudulent websites using its name identified by EclecticIQ.

Separately, an ad on Facebook and Instagram using The North Face logo directed users to a fabricated website. The ad was removed for violating its policies, and The North Face told CBS News it is working with Meta and “other partners” to combat scam sites.

“Fraudsters are using every online platform available to them and are constantly evolving their tactics to avoid law enforcement,” said Meta spokeswoman Erin Logan. “In this case, our systems proactively detected and removed many of these ads before they were reported to us.”

The Federal Trade Commission released data in February showing that online shopping fraud was the most common cause second most common type of fraud reported in 2023

Experts say fake websites and ads remain a widespread problem. “Many fraud sites are short-lived campaigns, so identifying new sites requires ongoing effort,” Ilya Volovik, director of Recorded Future Payment Fraud Intelligence, told CBS News. “Some of the longer-established scam sites change their ‘sale’ ads depending on the holiday.”

Tips on how to protect yourself

Cliff Steinhauer, director of information security and engagement at the National Cybersecurity Alliance, said consumers should take precautions, be vigilant when shopping online and act quickly if they believe they are being scammed.

Secure your accounts. Experts recommend setting up multi-factor authentication and strong and unique passwords for all your accounts, including shopping and banking sites.

Avoid unknown links: Beware of links from unsolicited emails and text messages. Instead, use the search engine to go to the seller’s website.

Look for red flags. Beware of offers that seem too good to be true, as well as websites that use excessive pop-ups and intrusive language. If in doubt, please leave the site.

Search the site. Check out reviews from other buyers who have used the site. Visit the Better Business Bureau websitewhich maintains a database of ratings for millions of companies.

If you believe you have been the victim of fraud, notify your bank immediately to waive the charges. It’s also a good idea to change the passwords for your online accounts. If you experience harassment or repeated attempts to steal more information, file a police report.

Experts also recommend freezing your credit at the three major credit bureaus if your personal information has been compromised in a data breach. This will prevent your identity from being stolen if fraudsters obtain your Social Security number.

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