Over five million Britons have been scammed on a fake website in the last year and over half of those (2.7 million) have lost money from it according to a new study by F-Secure. With an average loss of £50 this totals up to £130m being stolen from Britons’ pockets, and the UK economy.
It’s no secret that cyber criminals employ sophisticated tactics to orchestrate shopping scams, and the creation of fake websites that mimic well-known, established brands is just one of those ways.
In a recent study by F-Secure, research uncovered what Britons are buying when they are hit by fake websites and it’s impacting a spectrum of industries. The most common products are:
- Technology
- Clothing
- Home furnishings
- Cosmetics
- Footwear
In a bigger twist, further research by F-Secure found that six in 10 consumers have avoided shopping with small and independent businesses: expressing a preference for shopping with better-known and established brands. However, more than half of the identified fake websites were impersonating three leading global mass-market brands.
Here, F-Secure’s Tom Gaffney, talks more about the issue of brand impersonation and what consumers should look out for.
The presumption that bigger brands are safer is where the danger lies because they are more prone to impersonation. They are easier to impersonate and often big brands that offer high demand items (the latest Nike shoe, Apple device for example), can be more lucrative for cybercriminals.
Fraudsters are clever – leveraging brand assets such as imagery, logos, and colours – fraudsters lure consumers in with an illusion of authenticity. They also use nefarious domains, employing slight misspellings that go unnoticed, or using subtle unconventional domains like ‘.shop’ or ‘.xyz’. This all poses a challenge in discerning their legitimacy.
The primary goal of brand impersonation is to deceive consumers into providing sensitive personal information, such as credit card details, or to lure them into purchasing counterfeit or compromised goods and taking their money. Alternatively, scammers may simply aim to defraud customers by accepting payments without delivering the promised products or services.
It’s important that consumers stay vigilant to ensure the best protection for themselves and their wallets against online scamming tactics. Here are nine top tips to staying safe when shopping online:
Check if a website is safe to use:
Use a trusted tool like F-Secure Online Shopping Checker to check if a website is safe to buy from.
Monitor your bank accounts and credit cards
Regularly check your bank and credit card statements for any unauthorised transactions and report any suspicious activity to your financial institution immediately.
Use unique and strong passwords
If user details are stolen from a legitimate retailer via a data breach, shoppers could be at risk. So it’s important to use a strong, unique password when creating your online accounts.
Enable two-factor authentication (2FA)
Always enable two-factor authentication (2FA) where available. Two-factor authentication works by adding extra security to online accounts (beyond your username and password).
Be vigilant about email scams
If you receive a suspicious email claiming to be from a big brand urging you to click a link, don’t do it. If you think it’s genuine, go directly to the official website by typing the URL into your browser.
Use a credit card or PayPal
Many credit card providers offer insurance against fraud. PayPal also offers some support for safe online shopping. Avoid wire transfers or other untraceable payment methods.
Beware of big bargains
Nowadays, comparison engines have essentially removed the need for retailers to provide large discounts. So, it’s important to be wary of huge offers that seem too good to be true.
Be vigilant even with brands you know and trust
Given that scammers often impersonate bigger brands, make sure to remain vigilant even when shopping with the brands you know.
Use a reliable internet security app
The best way to stay safe online is by using a trusted internet security product. With F-Secure Total, your passwords are monitored, you’ll be alerted of breaches if they occur, and your access to potentially harmful shopping sites will be automatically blocked.
