As Black Friday grows in popularity, online shoppers are more likely to fall victim to cyberattacks, according to a new report from Kaspersky. E-commerce attacks targeting shoppers directly have increased by 15% compared to the previous year.
Black Friday is the biggest annual event for consumers, with 95% of consumers now aware of it. But while shoppers used to shop in-store on Black Friday, then online on Cyber Monday – which also debuted in 2005 – the decline of brick-and-mortar retail has forced most shoppers to turn to e-commerce. 
Black Friday data revealed that last year only 12% of shoppers shopped exclusively in-store on Black Friday. The rise of retailer-specific apps and advance access to deals from the comfort of their homes has encouraged consumers to shop more online, with 56% preferring online shopping over in-store shopping and 55% using their smartphones to shop during Black Friday. This increase in online shopping combined with the lengthening of the sales period means increased scope for cyberattacks.
A new report from Kaspersky has highlighted the heightened risk to consumers during this period, as the likelihood of financial phishing attacks increases by 24% compared to the average daily rate during the rest of the year. According to Kaspersky experts, in the first nine months of 2019, fifteen financial malware families targeted online customers of popular brands.
Hackers are targeting electronic tokens to hunt for users' banking information, such as logins, passwords, card numbers, phone numbers, and more.
"As Black Friday and Cyber Monday approach, shoppers should be on high alert. This is prime time for cybercriminals, who are constantly on the lookout to steal personal information, card numbers or bank account credentials from unsuspecting victims."
With financial fraud on the rise, people need to make sure their data and personal details are secure, or they will be forced to reduce their online shopping. This is also where businesses have a key role to play, as they need to reassess their IT security strategy to ensure they have a comprehensive security plan in place that includes: training for employees, better defenses to protect against attacks, and more reliable tools to detect zero-day threats. There are also simple steps consumers can take to prevent Black Friday from becoming the most dangerous time of year online,” said David Emm, Principal Security Researcher, Kaspersky.
Kaspersky also recommends the following steps to stay safe – or keep your customers safe – when shopping online:
Black Friday Tips for consumers:
- Invest in a strong cybersecurity solution to protect all the devices you use for online shopping.
- Back up your data regularly to avoid losing your personal files if you are the target of a cyberattack.
- Keep Windows and other applications up to date.
- Use unique, complex passwords for each online account. If this seems too difficult, download a password manager app.
- Use caution when shopping online on your mobile device. Shortened URLs, often used because they are phone-friendly, can hide redirects to a dangerous site. If you absolutely must make a transaction, turn off Wi-Fi and use mobile data. Otherwise, wait until you are back on a secure connection.
- Avoid shopping on websites that seem suspicious or flawed, no matter how impressive the “deals” they offer.
- Do not click on unknown links you receive via email or social media messages, even from people you know, unless you were expecting the message.
- Reduce the amount of money you have in your bank and online accounts or use a prepaid card for online payments.
- Limit the number of transactions on your bank card.
- Enable and always use two-factor authentication (verified by Visa, MasterCard, etc.).
Tips for businesses:
- Use a trusted payment service and keep your online transactions and payment platforms up to date. Each new update may contain critical updates to make the system less vulnerable to cybercriminals.
- Use a customized IT and cybersecurity solution to protect your business and customers.
- Pay attention to the personal information used by customers who buy from you. Use a fraud prevention solution that you can customize to your company profile and your customers' profile.
More information on how to stay safe on Black Friday can be found in the company's dedicated blogpost.
