Black Friday and Cyber Monday are synonymous with fantastic deals, bustling e-commerce activity, and record-breaking sales. Unfortunately, they’re also prime time for cybercriminals to exploit unsuspecting shoppers and employees.
As the shopping frenzy reaches new heights in 2024, so do the risks of scams designed to compromise sensitive data and cause financial harm.
Whether you’re shopping online or working in an organisation that handles sensitive data, staying alert and informed is your best defence. At TSC, we specialise in helping organisations build robust defences against these threats through tailored security awareness and training programs.
In this article, we’ll explore the most prevalent scams of the season and how you can avoid falling victim to them.
1. Phishing Emails and Text Messages
Phishing scams are a perennial favourite for cybercriminals during the holiday season. These fraudulent messages often appear to be legitimate communications from well-known brands, enticing you with incredible deals or urgent account issues. Clicking on these links can lead to malicious websites designed to steal your personal or financial information.
Employees, too, are targeted through workplace emails that blend holiday promotions with workplace themes, such as end-of-year discounts on business tools or bogus HR announcements. Without proper training, such scams can compromise company data, leading to severe repercussions.
2. Fake E-commerce Websites
Scammers go to great lengths to replicate genuine e-commerce platforms, mimicking everything from their logos to their checkout processes. These fake websites lure customers with discounts that seem too good to be true, only to steal payment details or deliver counterfeit goods.
Knowing how to spot these fakes—like unusual URLs or unsecured payment pages—can save you from falling prey. At TSC, we teach employees to scrutinise online transactions, ensuring they recognise legitimate platforms.
3. Gift Card Scams
“Pay with a gift card” scams spike during Black Friday and Cyber Monday. These scams typically involve fraudsters posing as vendors or even senior executives in an organisation, requesting payments through gift cards for fictitious reasons.
This scam thrives on urgency and fear, especially among employees who may not be trained to question unusual payment requests. A robust security awareness program can empower employees to identify and report these tactics before any damage is done.
4. Fake Customer Support Scams
After purchasing an item online, you might encounter fraudulent customer service representatives offering to “assist” with your order. These scams often escalate when individuals inadvertently share sensitive information, such as credit card numbers or account credentials, with the scammers.
Organisations can mitigate this risk by educating their employees to authenticate support communications and report any suspicious interactions.
5. Delivery Notification Scams
Impersonating courier services is another popular tactic. Scammers send fake delivery notifications, claiming additional payment or requesting confirmation through a malicious link. These scams not only target consumers but can also infiltrate workplace systems if an employee unwittingly clicks a malicious link on a company device.
Being vigilant and verifying delivery notifications directly with couriers is essential. TSC’s training programs emphasise verifying all communication sources to avoid falling for such traps.
1. Financial Losses
The immediate consequence of falling for Black Friday and Cyber Monday scams is financial loss. For individuals, this might mean drained bank accounts or fraudulent credit card charges. For businesses, a single employee's mistake can result in larger-scale losses, including unauthorised wire transfers or the cost of recovering compromised systems.
Beyond the monetary hit, these scams also consume time and resources as victims scramble to resolve issues, cancel cards, or track stolen goods. Preventing these scams through education and awareness is far more cost-effective than recovering from an incident.
2. Compromised Personal and Professional Data
Scams aren’t just about stealing money—they’re also designed to harvest data. Phishing scams or fraudulent sites can compromise your passwords, login credentials, or even sensitive workplace information.
For businesses, this can translate into stolen intellectual property or client data, putting them in breach of GDPR and other regulations. Employees trained to recognise data risks can safeguard not just their personal information but also their organisation’s assets.
3. Damage to Business Reputation
When a business falls victim to a cyber scam, the damage extends beyond financial loss. Customers lose trust when their data is mishandled, or operations are disrupted by cyberattacks. An employee inadvertently clicking on a phishing link could expose the entire organisation to ransomware, leading to prolonged downtime and reputational harm.
TSC’s programs help organisations mitigate these risks by fostering a culture of vigilance, ensuring employees are well-equipped to act as the first line of defence.
The most effective defence against holiday scams is awareness. Cyber security training, like the programs offered by TSC, equips individuals and employees with the skills to recognise and avoid scams.
From phishing simulations to interactive eLearning courses, TSC’s bespoke solutions are designed to transform employees into security champions. By addressing specific vulnerabilities within your organisation, we help create a proactive workforce capable of navigating the evolving threat landscape.
Scams are often riddled with tell-tale signs: Misspelled brand names or awkward phrasing in emails, unsecured websites (look for "https" and a padlock icon), unsolicited requests for payment or personal details, offers that sound too good to be true.
TSC’s training programs focus on helping employees identify these red flags through real-world examples and gamified learning, making it easier to apply these lessons in their daily activities.
Practicing safe browsing habits is critical during the shopping season. Here are some key tips: Stick to trusted websites and apps for shopping, enable two-factor authentication (2FA) on all accounts and avoid public Wi-Fi when making transactions.
For businesses, training employees on these practices ensures that they don’t inadvertently expose company systems to risks while shopping during work hours or using corporate devices.
Before clicking on a delivery notification or making a payment, always verify its authenticity. Contact couriers or retailers directly if something seems suspicious.
In the workplace, ensure employees understand the importance of checking payment requests, especially during high-stress periods like the holiday season. TSC’s phishing simulations help employees practice these skills, turning awareness into action.
A strong security culture begins with employees who understand their role in protecting the organisation. Employers can foster this mindset through engaging and continuous training programs, such as TSC’s behavioural assessments and awareness campaigns.
By incorporating gamified learning and real-world scenarios, TSC ensures employees remain vigilant, even during the hectic holiday season.
Cybercriminals are constantly evolving their tactics, which is why businesses need dynamic tools to stay ahead. TSC’s Human Risk Management platform offers organisations a comprehensive approach to mitigating threats.
From behavioural assessments to phishing simulations, our platform helps identify at-risk employees and provides targeted training to address vulnerabilities. These proactive measures can significantly reduce the likelihood of falling victim to holiday scams.
No two organisations are the same, which is why TSC offers customized solutions designed to address unique challenges. Whether you’re looking for off-the-shelf materials or a fully bespoke program, our training modules ensure that every employee becomes a security champion.
With decades of experience, TSC’s team of cyber security experts stays ahead of the latest threats, including the scams prevalent during Black Friday and Cyber Monday. By leveraging our expertise, businesses can confidently navigate the holiday season, knowing their employees are equipped to handle any cyber threat.
Black Friday and Cyber Monday bring both opportunities and risks. While these shopping holidays are a boon for consumers and businesses, they also present a lucrative opportunity for cybercriminals.
Protecting yourself and your organisation starts with awareness. Investing in cyber security training and awareness programs, like those offered by TSC, can transform your employees into the first line of defence against cyber threats. With a robust security culture in place, you can shop and work with confidence, knowing you’re safeguarded against scams.
Partner with TSC this holiday season and beyond to build a secure future for your business.
1. What makes Black Friday and Cyber Monday a prime target for scammers?
These shopping holidays attract millions of online buyers, creating a perfect storm for scammers to exploit the high transaction volume and urgency associated with limited-time deals.
2. How can employee training help prevent cyber scams?
Security training equips employees with the skills to identify and respond to cyber threats, reducing the likelihood of human error leading to breaches.
3. What are some tools businesses can use to enhance cyber security?
TSC’s Human Risk Management platform offers phishing simulations, behavioural assessments, and tailored training programs to protect employees and organisations from emerging threats.
4. How do phishing simulations improve organisational security?
By mimicking real-world threats, phishing simulations help employees recognize scams in a safe environment, ensuring they’re prepared for actual attacks.
5. Why choose TSC for cyber security awareness training?
With over two decades of experience, TSC combines innovative tools, expert knowledge, and customised solutions to create a security-first culture in any organisation.
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