Black Friday: A Playground for Cybercriminals

• by Anthony Orjally
• Advent IM Blog

Black Friday is not just a day of discounts but also a high season for cybercriminals who exploit the shopping frenzy to scam individuals and attack businesses. With the promise of massive discounts and limited time offers, this high traffic shopping season creates the perfect conditions for scams and cyberattacks.

Rising Threats

Recent years have seen a surge in phishing scams, fake websites and fraudulent social media ads. These scams often mimic legitimate retailers with deals that seem irresistible, tricking shoppers into revealing their personal information or making payments to fraudulent accounts.

Even more concerning is the increased use of AI to develop the sophistication of these scams. Fraudsters can now generate polished and highly convincing emails that make it harder for consumers to distinguish legitimate offers from fraudulent ones.

Business Under Attack

Cybercriminals also target businesses during Black Friday through Distributed Denial-Of-Service (DDoS) attacks. Some reports suggest there’s a 200% increase in DDoS attacks during Black Friday, with business like e-commerce platforms and payment services becoming prime targets.

Credential Stuffing is another method used by cybercriminals to target businesses, specifically online retailers & customer portals, during Black Friday. This method allows them to use previously stolen login credentials to attempt to access multiple accounts, exploiting weak password practices. A lot of online businesses have a customer portal, where banking information is saved, as well as personal information such as an address and phone number.

Tips for Staying Safe

Be Cautious – Avoid clicking on unsolicited emails or social media ads. Always verify the business’ website and use secure payment platforms.

Strengthen Security – Enable two factor authentication and ensure that your devices & software are updated.

Monitor your Accounts – Regularly check any bank statements, in case of any unauthorised transactions. If there are payments that are unauthorised, then contact your bank immediately.

To conclude, Black Friday offers exciting opportunities for shoppers, however it comes with a huge risk. Staying vigilant by taking simple precautions is vital, as both consumers and businesses can enjoy the benefits of the season without falling victim to cybercriminals!