Urgent Cyber Monday warning as scammers are out to steal your money: 5 ways to protect yourself

AMERICANS have been warned to look out for online scams as they hunt for bargains on Cyber Monday.

Researchers at Adobe estimate that around $207billion will be spent until December 31 and there’s a risk that scammers will try to take advantage of unsuspecting consumers.

GettyAmericans should check the URLs of websites before they enter their credit card details[/caption]

Adobe predicts that around 17 percent of all sales will have taken place over the “cyber weekend” – the period from Black Friday to Cyber Monday.

Experts at the Better Business Bureau have urged Americans to be aware of fake websites as hackers try to create sites that look legitimate, according to Wood.

Shoppers should compare prices among different retailers before they buy.

Americans are likely to pay nine percent more for items over the “cyber weekend” this year compared to 2020, data from Adobe reveals.

Online shoppers should also check the URLs of websites before attempting to enter their personal or banking information.

Security experts say that fake domains may contain an extra letter or number, or websites may have grammatical errors, according to CNBC.

Shoppers are also encouraged to use their credit cards when purchasing items as it gives customers a better chance of protection.

If you use your credit card, you may be able to recover lost money if you fall victim to a scam.

Americans that spot a scam should log it at the Better Business Bureau’s scam tracker.

Black Friday shoppers were warned about digital credit card skimming scams during the run-up to the holiday.

SCAM WARNING

Tim Mackey, the principal security strategist for Synopsis, said: “There isn’t an obvious way for the average person to be able to identify if or when a website has been compromised.

“The only potential tell-tale sign might be that the website itself doesn’t quite look ‘right’.”

He said consumers should use third-party payment methods such as Apple Pay, Google Wallet, or PayPal.

Mackey also warned against making purchases on public Wi-Fi.

Around 58,000 Covid-related consumer fraud reports from January 2020 to October this year were related to online shopping, according to the Federal Trade Commission.  Consumers lost around $48million.

If you believe you are the victim of a scam, it’s important to take quick action to protect yourself. 

First, you should contact your bank immediately and let them know if you accidentally sent money to a fake business or paid with a credit card.

If possible, file a complaint with the FTC as it can help others from becoming victims of the same scam.

Officials at the FTC will offer advice on how Americans can protect themselves from fraud.