Online scams on the rise as holidays approach, security experts warn

With Black Friday and Cyber ​​Monday quickly approaching, security experts are warning people to be careful when shopping online.

David Shipley, CEO and co-founder of New Brunswick-based Beauceron Security Inc., said people should be careful about fraud on social networks like Facebook and even what appears on Google.

“We have never seen as many malicious, fake, spam or fraudulent ads as we see on search engines today,” Shipley said.

“And now, with artificial intelligence, we’ve poured rocket fuel on fraud.”

Black Friday and Cyber ​​Monday are marketing labels designed to get people to shop, whether in stores or online. The first is November 28, the day after the Thanksgiving holiday in the United States, and the second is December 1, the first Monday after the holiday.

With artificial intelligence tools, a “low-skilled, consumer-level criminal” can create incredibly convincing fraud, he said.

Shipley said people who shop online should first go directly to trusted websites rather than searching for items on a search engine or social media marketplaces.

“Be sure to pay attention to what the website says at the top and keep an eye on your credit card for any unusual transactions,” Shipley said.

He added that it has never been “more unsafe” to shop online and that people should consider shopping locally, especially now.

“You’re going to support your local community, you’re supporting the economy here in the local area, but you’re more likely to also buy Canadian products,” Shipley said.

It’s not just older people who are victims of online scams, he said.

“Younger generations have experienced a level of technological sophistication and ease that has given them faith and trust that is not earned.”

Larry Zelvin, head of financial crimes at the Bank of Montreal, including fraud and cyberattacks, said online fraud gets worse this time of year.

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“What you really have to look out for is that sense of urgency, like, ‘There’s a sale coming up. Please act now,'” Zelvin said.

People should also be wary of suppliers they have never heard of who offer goods at prices far below what they should.

Parents should also be careful about allowing their children to use a credit card and should verify what the purchase is, especially if it is through a social media app like TikTok.

Zelvin said anyone who thinks they might be a victim should report it.

“Talk to a loved one, contact your financial institution,” he said. “There is no shame,” he said.

“You’re a victim, but unfortunately a lot of people feel like they’ve done something wrong or that they’re going to get yelled at for reporting these things. We need to change that culture.”

Zelvin said people should consider using credit cards instead of debit or gift cards to protect against scams because processing time slows down.

“Because if you find yourself in a situation where fraud has been committed, there is a higher chance that you can stop the transaction,” he said.

But with debit, even if you report the fraud to your bank or the police, “I’m sorry the money was lost,” he said. “There is no way to remember it.”

Zelvin said he doesn’t intend to scare people away from enjoying the holiday.

“But at the end of the day, you have to be alert.”