Retailers are gearing up for the year’s busiest shopping weekend, which runs from Black Friday to Cyber Monday, but another group is also gearing up.
Scammers.
Security experts are warning that retailers should brace for impact because the best estimates are that there could be as many as fifty million fraud-based attacks between those spectacularly busy shopping days.
The estimate is higher than it’s ever been and is driven in large part by the sheer number of high profile data breaches that have occurred over the last twelve months.
Account data for hundreds of millions of users flooded the Dark Web on the heels of those attacks. The scammers happily stocked up on them and are more than ready for the holiday season.
According to details provided by ThreatMetrix, the attack will shake out something like this:
• In advance of Black Friday, the scammers will use bots to test the stolen credentials they’ve purchased, tossing the ones that no longer work, and keeping the ones that are still active.
• Once they’ve culled their lists, they’ll spend a bit of time conducting a few million test attacks.
• After they successfully test their software with the valid IDs, they’ll launch large-scale fraud attacks with new user account registrations and attempted fraudulent payments.
According to security researcher Vanita Pandey:
“Many e-commerce merchants choose to accept a greater degree of risk on these key days in order to accept more transactions and reduce the chance that good customers experience friction when placing orders….fraudsters see peak shopping days as the opportunity to make larger purchases/attempt to redeem bigger basket sizes, which are less likely to be flagged as suspicious in among the sea of other high value purchases being made by good customers.”
The long and the short of it is that if you expect to see a spike in sales during the Black Friday – Cyber Monday shopping weekend, brace for a big spike in fraud attempts, too.
President & CEO
I hope you enjoyed this article. My mission is to take your stress away from dealing with IT problems. Call (252) 565-1235 or send me a message at our contact us page if you have a question, comment or want help.
Recently, Apple’s stock closed at $175.88, giving it a market valuation slightly above $900 billion. A Drexel Hamilton analyst named Brian White predicts that over the course of the next twelve months, the company’s stock could be trading as high as $235 per share, and at that price, Apple’s market valuation would be over one trillion dollars, making it the only trillion-dollar company on the planet.
Tech companies of all shapes and sizes have been on the hunt for the “Holy Grail” of security features since before the rise of the internet. So far, a number of strategies have been developed, but none have proved to be successful. Hackers have found ways around each and every one to date.
Microsoft has introduced a new set of standards designed to make computers running Windows 10 more secure.
Apple’s new iPhone X is a technological marvel that boasts the best display in the industry today, featuring Super Retina OLED display technology and offering a mind-boggling 1,000,000 to 1 contrast ratio.
When an operating system reaches the end of its supported life, such as Windows XP, NT and Vista have, it’s big news. It makes headlines. When other forms of software reach the end of the line, there’s just not as much fanfare. It’s not that it’s not important; it’s just not something people think or care very much about.
If you’re using an Apple device running iOS 11.0.3 or 11.1, you may have noticed some oddities when sending text messages. For reasons that aren’t quite clear, the letter “I” is being replaced by the characters “A[?].” It’s not a game-breaking bug, but it is annoying, and if you’re not paying attention, it can make for some rather mystifying text messages.

