Holiday Scams May Cost $53 Million This Year, Warns FBI

The big news

• The FBI has warned that online shoppers are at risk of losing more than $53 million this year to holiday scams that promise fake bargains and hard-to-find gifts.
• In addition to monetary loss, unsuspecting users are also at risk of falling victim to identity theft and fraudulent card charges.
• The agency noted that scammers are using various tactics to bait customers. Some of the prominent ways include enticing users through specially-crafted phishing emails, fake websites promoting unrealistic discounts, bogus social media posts on freebies, or gift cards.
• Forged online surveys are also being used to trick victims to steal their personal information.

Another sneaky area to look at

• The FBI in coordination with DHS also issued an alert about spear-phishing email campaigns impersonating branded companies.
• Attackers lure their victims by confusing them with a fake logo that matches the company’s official site.
• The phishing pages of targeted companies are sent through various means such as spam emails, text messages, or mobile and web apps.
• These pages are either embedded with login forms or malware that ultimately harvest credentials, payment details, and other types of personal information from victims.

Lastly, ransomware does not take a break

• In a joint alert, the CISA and FBI urged the public and private sector to remain vigilant and take appropriate precautions to reduce the risk of ransomware attacks during this holiday season.
• The advisory was issued based on the rise in impacts from recent ransomware attacks.
• The agencies highlighted that malicious cyber actors have often taken advantage of holidays and weekends to disrupt critical networks and systems belonging to organizations.

Final words