Shop Safely This Season

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Sydney, Nov 15: With the upcoming Black Friday/Cyber Monday shopping frenzy, online shoppers are urged to remain vigilant as cyber threats surge.
Financial experts at Wealth of Geeks issue a stark warning against prevalent scams, emphasizing the need for caution during the festive season.
Michael Dinich, founder of Wealth of Geeks, cautions, “Fraudsters are adapting to evolving technology, seizing the bustling shopping period to exploit increased transactions. Their motives range from stealing money to accessing sensitive information. To safeguard against this, shoppers should employ security measures such as strong passwords, two-factor authentication, and remain vigilant against phishing attempts.”
Here are common Black Friday/Cyber Monday scams highlighted by Wealth of Geeks, along with tips on spotting and avoiding them:

Incorrect Bank Details Scam:
Scammers claim billing information is incorrect, urging users to change it urgently. Shoppers are advised to contact the retailer directly for confirmation, avoiding entering details on suspicious websites.

Hot Deal Scam:

Illegitimate deals on fake websites can result in paying for products that are never received. Verify product and seller legitimacy through the Better Business Bureau.

Phishing Emails:

Designed to trick users, phishing emails aim to extract sensitive information. Avoid clicking on unfamiliar links or pop-ups, especially those with suspect URLs or poor designs.

Fake Tracking Number Scam:

Scammers send fake package tracking notifications with malware or phishing links. Legitimate retailers provide tracking information directly or through their websites.

Instant Messages:

Suspicious messages with enticing links may lead to malware intrusion. Verify deals directly on the retailer’s official website before clicking on any links.

Fake Charity Scam:

Scammers exploit the season of giving with fake charities that accept payment only through unconventional methods. Verify charity legitimacy through the Fundraising Regulator’s online directory.

Fake Social Media Profiles:

Impersonated profiles on social media may trick users into providing personal information or purchasing counterfeit products. Check for official, verified accounts with more followers.

Fake Product Reviews:

Overly positive reviews, especially on Amazon, might be incentivized. Seek multiple reviews from various sources before making a purchase.

‘Grey Market’ Distribution:

Products outside a brand’s authorized network may lack proper handling, making returns challenging. Purchase from authorized retailers to ensure quality and support.

Gift Card and Discount Scams:

Gift cards offered at a discount may be empty or stolen. Only buy from reputable sources, and verify the validity of discounts and coupons before use.

As the festive season approaches, Wealth of Geeks stresses the importance of staying informed and cautious while enjoying the excitement of Black Friday/Cyber Monday shopping.

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