In this blog, we run through how to mitigate security risks during the biggest shopping weekend of the year. Whilst online platforms make it easy for retailers and consumers to process transactions, it also means cyber criminals have another avenue to execute retail cybercrime.
Phishing scams, spoofing, fraudulent websites, and unprotected financial transactions are some of the risks retailers as well as shoppers should be concerned about.
The Human Element
Did you know that the majority of security breaches occur because of the human error? This means people fell victim to social engineering, stolen credentials, or simply by making an error – such as misplacing passwords or misconfiguring accounts. The human element was involved in 82% of all confirmed data breaches, according to a 2022 report. It’s important to train staff regularly on how to prevent cybercrime.
Phishing
This is one of the most popular and effective methods for deceiving consumers into handing over sensitive data. Hackers use social engineering to manipulate people and with the vast amount of online orders, this will be more prevalent during the busy four day period. Royal Mail and DPD scam texts and emails are an increasingly sophisticated tactic used by criminals to target vulnerable people.
Ransomware
Clicking on a malicious link can cause you more damage than you ever imagined. It can put you at risk of hidden downloaded software intended to damage or disable your device. The cost of investing in cyber security will always outweigh the financial implications of an attack. Ransomware poses a big threat for businesses, especially during busy times of the year. Attacks are expensive and increasing in number – organisations should be extra careful around the Christmas shopping season and consider investing in the right solutions to mitigate these cyberattacks.
Our Advice…
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It is worth checking the reputation score of retailers via websites like Trustpilot to determine if that retailer can be trusted.
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Check for the padlock icon when at checkout. Secure Sockets Layers (SSL) are used to ensure data is encrypted. It is also an indication that an organisation has been verified. Keep an eye out for HTTPS in the address bar rather than HTTP, as this highlights that a site uses SSL.
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Use antivirus software that will warn you of potentially dangerous sites in search results.
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Look for suspicious emails, as well as suspicious calls and text messages. Spoofed messages often contain spelling and grammar mistakes.
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Never click on a link you are unsure of, and never provide personal information over the phone.
Find out more
Are you in the Financial Services Sector? The rapid growth of cyber attacks targeting financial services has forced the need to increase cyber security defences. For a comprehensive list of tips on how to prevent cybercrime against your organisation, download our Cyber Security Checklist.
