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With Black Friday and Cyber Monday fast approaching, security experts are warning people to be careful when buying online.
David Shipley, CEO and co-founder of New Brunswick-based Beauceron Security Inc., said people should be careful of fraud on social media such as Facebook and even on what comes up on Google.
“We’ve never seen as many malicious, false, spam or fraud ads as we are seeing today on search engines,” Shipley said.
“And now with artificial intelligence, we have rocket fuel poured on fraud.”
Black Friday and Cyber Monday are both marketing labels designed to get people to shop, whether in stores or online. The first is Nov. 28, the day after U.S. Thanksgiving holiday, and the second is on Dec. 1, the first Monday after the holiday.
With AI tools, a “low-skilled, consumer-grade criminal” can create incredibly convincing fraud, he said.
Shipley said people shopping online should first go directly to trusted websites instead of searching for items on a search engine or on social media marketplaces.
“Make sure you’re paying attention to what that 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 people should consider shopping local, 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 be buying Canadian as well,” Shipley said.
It’s not just seniors who are falling victim to online scams, he said.
“Younger generations have experienced a level of technological sophistication and ease that has just given them faith and trust that is not earned.”
Larry Zelvin, the Bank of Montreal’s head of financial crimes, including fraud and cyber, said that online fraud gets worse at this time of year.
With many Canadians tempted by online holiday shopping deals, cybersecurity experts say artificial intelligence is making scams increasingly difficult to detect. Two experts share tips on what to watch for and what to do if you’re scammed.
“What you really need to be watching for is that sense of urgency, like, ‘There’s a sale that’s coming up. Please act now,’” Zelvin said.
People should also watch out for vendors they’ve never heard of before offering merchandise for far below what it should be.
Parents should also be careful when letting their children use a credit card and should check to see what the purchase is, especially if it’s through a social media app such as TikTok.
Zelvin said anyone who thinks they might be a victim should report it.
“Talk to a loved one, reach out to your financial institution,” he said. ” There is no shame,” he said.
“You are a victim, but unfortunately a lot of folks feel like they’ve done something wrong or 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 being scammed because the processing time is slowed down.
“Because if you do find yourself in a situation where fraud has been committed, there’s a higher probability that you’ll be able to stop the transaction,” he said.
But with debit, even if you report fraud to your bank or law enforcement, “I regret the money’s gone,” he said. “There’s no way to recall it.”
Zelvin said he doesn’t intend to scare people out of enjoying the holidays.
“But at the end of the day, you do need to be vigilant.”
