We’re less than two days before we experience again, in real time, Black Friday, Small Business Saturday, and Cyber Monday.

And for weeks now, it seems, retailers (along with anyone else selling something) have been previewing and/or posting their Black Friday sales.

Of course, as all of this is occurring, cybercriminals are already out there doing their best, you might say, to help themselves to an early holiday payday.

• In fact, according to the Federal Trade Commission (FTC), it is estimated that more than $300 million has already been lost to online shopping fraud this year.
• At the same time, based on data from Capital One, consumer spending on Cyber Monday has grown from $3.1 billion in 2015 to $12.4 billion in 2023, with 2024 showing no signs slowing down.
• The financial institution also found that an estimated 73.1 million shopped online for Cyber Monday last year, compared to 20.9 million who went to an actual store.
• As if that’s not enough, retailers will also have to guard against a wave of AI-enabled bots flooding their websites, making fraudulent purchases and trying to steal consumer information.
  • Relying on ‘activity’ that mirrors that of a consumer, it’s the same type of AI-enabled scam that resellers have used, for years, to their advantage to rapidly ‘hoard’ hard-to-get, high value merchandise, such as sneakers, in just minutes online.
  • It can also lead to an automated account takeover by a cyber attacker, who’s able to gain entry into someone’s online account using stolen credentials.

Fortunately, for all of the threats that are out there, protecting your personal and financial information, as well as the forms of payment that you use while you’re shopping, can still be achieved by following some helpful tips from the Better Business Bureau, including:

• Shopping directly on trusted websites and verifying the site’s URL, making sure it includes https:// (indicating that it operates on a secure server).
• Avoiding clicking on links in unsolicited emails or ads.
• Being sure to compare prices across multiple retailers to spot unusually low prices.
• Reading product reviews before making a purchase.
• Researching businesses on BBB.org to verify the site’s legitimacy.
• Being cautious of any unsolicited messages and avoid clicking on suspicious links in emails or texts.
• Use credit cards, as they offer better fraud protection than debit cards.
• Plan ahead and map out your shopping route or create a strategy for online deals.

When shopping in-store:

• Make a list of items to avoid impulse buys and it’s a good idea to set a budget to help avoid overspending.
• Be sure to read the fine print on deals to ensure they apply to your desired items.

For more information to help you “Shop Safe, Shop Smart”, visit: BBB's Holiday HQ guide.

Here in Indiana, if you suspect that you’re a victim of identity theft or a scam, there are free resources available to report your situation. Visit the Indiana Cyber Hub website and go to the Report a Cyber Incident page on the steps that you need to take and begin recovering from any potential incident or financial loss.

While it’s true that the holidays are the perfect time to show kindness and goodwill toward others, as well as those who are close to us, it’s the time of year that brings out all kinds of online scams and schemes.

Best advice? Take the time to check out anything that sounds too good to be true. Until then, the Indiana Cyber Hub wishes all Hoosiers a safe and enjoyable Thanksgiving and be sure to follow these helpful tips and keep a cybercriminal from re-gifting (to themselves) your cash, credit or personal data.