IT Security Software Update Recommended to Avoid Cyber Monday Attacks

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As the biggest shopping day in the United States, Cyber Monday delivers some of the best deals and the biggest shopping binges all year. In fact, the 2022 incarnation is expected to drive $11.2 billion in spending, representing 5.1% year-over-year growth. This outpaces the projections for Black Friday sales, which are set to only increase by 1% this year. Unfortunately for shoppers, product discounts and brand deals aren’t the only things to watch out for in the Cyber Monday sale—cyberattacks are also on the rise.

According to Verizon, as noted by Impact’s report, around 90% of cyberattacks are performed for financial gain. And Cyber Monday happens to be the event in which United States shoppers spend the most money, along with other big shopping events like Black Friday and Thanksgiving that occur over the weekend. These events also draw a considerable number of shoppers, with the buyers for this year’s Black Friday and Cyber Monday increasing by 18% and 11%, respectively.

With US and international buyers trooping over to ecommerce websites in droves, cybercriminals have plenty of opportunities to scam shoppers. It doesn’t help that the presence of high inflation can exacerbate the situation as it gives scammers added motivation to do their misdeeds while vendors offer extra-generous discounts to beat inflation.

This means shoppers worldwide need to download or update their cybersecurity software to have a means of protection. Businesses also need to follow suit with their IT security software since some transactions might occur using the office network.

Rise in Cybercrimes During the Holiday Season

History has shown that the Black Friday weekend and Cyber Monday are the biggest hotspots in the world of cybercrime. Recent cybersecurity statistics show that there was a 178% increase in the number of fraudulent websites just several days ahead of Black Friday in 2021. Since this year’s Black Friday and Cyber Monday will be bigger than last year’s, the volume of attacks will also likely increase.

To add to this, some types of cyberattacks occur more frequently this year. A 2022 report by Verizon indicates a 13% increase in ransomware breaches, a higher rate than the five previous years combined. Moreover, there was an uptick in cybercrime in the previous quarter, with Checkpoint Research discovering a 28% increase in global attacks in Q3. The education and research sectors were the most targeted, so some of the malicious ploys, links, and websites concerning this sector could come with sold products during the holiday season.

This underscores the need to update IT security software. Tests from AV-Comparatives show that the products of some of the leading cybersecurity software companies scored over 90% in detection and protection. So these solutions definitely work.

However, not routinely updating cybersecurity systems could mean that they are not equipped to offer protection against the latest threats, and new ones are known to appear in the days leading to Black Friday and Cyber Monday. Among these threats, there are certain types that are more prevalent during the holiday season.

Common Cyber Monday Attacks

Phishing appears to be one of the most significant threats during the Cyber Monday sale this year. Besides the aforesaid increase in the number of malicious websites, the nature of these attacks has evolved to scam holiday shoppers. Checkpoint Research discovered that the most spoofed brand by scammers changed from LinkedIn in Q1 and Q2 to DHL in Q3, with a share of 22% among all global phishing scams in the quarter.

This is a cause for concern since DHL is among the largest courier services in the world, and shipping is involved in most Black Friday and Cyber Monday transactions. New cybercrime statistics for November reveal that 17% of the malicious files sent through phishing emails were connected to shipping, deliveries, and online shopping. Moreover, some fraudulent sites pose as retailers as they send emails with malware-infested attachments to leads, through which they conduct billing and verification code scams.

Impersonating fashion brands is also common. For instance, the number of fake websites that supposedly sell Louis Vitton bags almost reached 15,000 in November. And this is only one among many brands that draw lots of buyers. It is important to note that at least 4% of new shopping websites that appeared in November are malicious.

Another threat that has surfaced more frequently is the distributed denial-of-service (DDoS) attack. Recent figures show that the number of DDoS attacks in 2021 increased by more than 200% year-over-year. Their common targets include online sellers, logistics firms, payment service providers, cloud providers, and ISPs.

Other types of attacks to watch out for are botnet attacks and ransomware.

Protection Against Cyber Monday Attacks

IT security software and other types of cybersecurity applications like firewalls are generally effective in detecting and dealing with cyberattacks. These also receive help from cloud-based services that also maintain their own security protocols, like Google, Microsoft, Amazon, and major mobile app stores. Finding one is easy since cybersecurity software solutions are widely available online, and sometimes software review sites even have direct links to where one can purchase the leading products.

However, relying on these security applications alone will not be enough to defend against all kinds of cyberattacks. A large influx of new threats routinely appears each year, and it takes time for security platforms to build a defense for them, or even account for all of them. Prevention is the best defense for online shoppers. It starts with vigilance.

Verizon’s report notes that 82% of breaches involve the human element. This means many internet users unwittingly click on phishing emails, ads, and websites or unknowingly spread malware in the office network. To prevent this, one should be wary of spelling errors in URLs and emails and avoid suspicious links and browser extensions—these may carry malware designed to bypass network defenses and illicitly obtain sensitive data like financial information and company strategies.

Furthermore, online shoppers should ensure that they shop from reliable sources. Secure sites often have a padlock icon, which signifies compliance with international security standards, beside their URLs. The cybersecurity software installed should also provide email protection since many phishing schemes take place via email.

Should shoppers feel that their online accounts, including social media, have been compromised, they are advised to change their passwords and security questions. Meanwhile, they must also be vigilant of fake password reset schemes from spoofed sources sent through email—these should be avoided.