Shopping through digital platforms is a great way to save time, but it's essential to protect our personal and financial information to avoid becoming a victim of scams.
The Christmas and New Year holidays cause a large increase in the number of online transactions, and cybercriminals know it.
In Chile, a study conducted by the Santiago Chamber of Commerce (CCS) in 2022 found that 51% of Chilean consumers have been victims of some type of online fraud. The study also found that the most common frauds are identity theft (38%), credit card scams (35%) and coupon scams (27%).
Taking this information into account, I would like to tell you what the most common risks are and how you can protect yourself:
What are the most common risks when shopping online during the holidays?
• Theft of personal and financial information: Cybercriminals can take advantage of the large number of people who shop online to steal personal information, such as names, addresses, credit card numbers, and passwords. They can do this through fake offer links, malicious QR codes, or fraudulent coupons.
• Scams: Fake websites are created that mimic those of legitimate businesses. These may use similar domain names, logos, and designs to trick consumers into providing their personal or financial information.
• Malware: They often use links to offers, QR codes, or malicious coupons to distribute malware. This malware can steal personal and financial information or even take control of victims' devices.
• Phishing and fake websites: Cybercriminals often create fake websites or send phishing emails to steal personal information.
Example: In 2021, several fake websites were detected in Chile during the holidays that imitated popular stores to steal credit card data. Ref 1
• Data theft on public Wi-Fi networks: It's common for users to make online purchases using public Wi-Fi networks, which can expose sensitive data. Using a virtual private network (VPN) is recommended to encrypt the connection and protect your information.
Example: Cases of information theft in cafes or shopping centers that offer free Wi-Fi have been reported in several Latin American cities. Ref 2
What security measures should we take when shopping online?
• Only click on links from trusted sources: If we are unsure of the source of a link, it is best not to click on it.
• Verify the website address before entering any personal or financial information: The web address should begin with 'https://' to indicate that the website uses a secure protocol; also, look for spelling or grammatical errors.
Example: In 2022, a phishing campaign was detected using QR codes on coupons that led to fake websites to steal personal information. Ref 3
• Do not scan QR codes from unknown sources: If we are unsure of the source of a QR code, it is best not to scan it.
• Review the terms and conditions of the coupons before redeeming them: Some may have hidden conditions that cost us money.
• Security applications and updates: Keeping browsers, antivirus, and security applications up to date helps prevent malware from running.
How can we identify and avoid potential scams?
We must be attentive to the following signs:
• Offers that seem too good to be true.
• Website or email with spelling or grammatical errors.
• Requesting unnecessary personal or financial information.
• Seller reputation and reviews from other buyers.
What are the best practices for protecting our personal and financial information when making purchases?
In addition to the security measures mentioned above, we can also apply the following best practices:
• Use a strong password for each online account: It must be at least 12 characters long and include a combination of letters, numbers, and symbols.
• Enable two-factor authentication (2FA) for all online accounts that support it: 2FA adds an extra layer of security to your account by requiring a verification code in addition to your password.
• Educating children about online safety: Teach them not to provide personal or financial information to people they don't know and to be cautious about the links they click on online.
• Periodic review of account statements: Regularly checking bank and credit card statements allows you to detect suspicious transactions in time.
References:
Ref 1: https://www.emol.com/noticias/Tecnologia/2021/12/13/1041050/detectan-41-sitios-web-suplantados.html