2 November 2016
With Black Friday and Cyber Monday upon us, online security has never been more important. With all the great advantages of online shopping, including the ability to scour the world for bargains and compare deals, there comes a very real and growing downside: online fraud.
It's not just the shoppers that are getting ready for a bonanza this month, as more and more consumers switch online or to a "click and collect" model to grab the latest deals and offers. Last year estimates of the amount spent in the UK on Black Friday come in around £2bn - and over the whole weekend closer to £3.3bn! Serious numbers indeed and with that sort of traffic transacting that amount of cash it's no wonder that cyber criminals are lining up to prey on the hype around the sales.
Online fintech operation 247Moneybox has seen millions of transactions pass across its website and has whole teams dedicated to data security and anti-fraud. However, it's not just the merchant websites that need to up their game when it comes to combatting this dark art.
"Consumers should look to themselves as the first line of defence" states Bryon Caldwell, IT operations manager at 247Moneybox. Caldwell continues: "with just a few basic steps, people can really protect themselves when conducting business online, be that ensuring to use complex passwords, logging off their browsers or just adopting a suspicious and sceptical mindset."
To help their customers, the lending firm has put together the following infographic showing some simple tips and hints to beating the cyber criminals and staying safe online.