Online shopping is convenient, but comes with its own threats. Practice safe online shopping. |
The online retail market is a growing trend. You can't ignore the convenience of shopping in your pajamas in the comfort of your own home, plus shopping when you want instead of during store hours. You can begin to understand the appeal from a shopper's standpoint. From a business standpoint, businesses can sell products 24/7 with out having to run staff around the clock, and can sell to geographically different areas from one location.
With the official holiday shopping season having a day called "Cyber Monday," it seems like this market will only continue to increase. Forbes predicts that the 2013 online holiday sales will increase at a double-digit pace to pull in over $78 billion. If there is a money involved and a large number of people, you can believe you will find cyber-crooks nearby.
Below are some online shopping tips to keep you safe and cyber-crooks at bay.
- Conduct independent research on sellers. You can check them out at the Better Business Bureau site. If possible, read reviews by previous buyers to learn how they rate their experience.
- Use a computer instead of smartphone. Computers have antivirus, spam filters, firewalls, and other software to provide layers of security and alert you to risky sites. The majority of smartphones are lacking this capability leaving you more vulnerable.
- Keep your anti-virus and spam filter updated. Companies routinely issue updates to address software vulnerabilities that are exploitable by hackers. Some anti-virus have an Internet add on that alerts you to the safety of the website. While this slows down Internet searches, it is minor and provides a big security pay-off.
- Google (as in the verb, not the noun) web address instead of typing in the address bar. Scammers often set up fake sites using similar names or common misspellings of legitimate business sites.
- Use secure sites. The "https://" or a closed yellow padlock displayed at the bottom of the screen are your clues.
- Use credit instead of debit cards. The federal Fair Credit Billing Act provides you more protection if you use your credit card instead of your debit card. Additionally, the debit card is directly tied to your bank account, so you're giving potential cyber thieves direct access to your account. I also recommend you designate a credit card with a low credit limit to be used only for online shopping, which will reduce your personal risk should the card accidentally become compromised.
- Change passwords. Online businesses like Amazon store your credit card and mailing information in your online account. Ensure you change the passwords to these accounts frequently (i.e. every 90 days), and make them rather complex. Read our The commonly common password to learn our password tips.
- Protect your personal information. Pay attention to the privacy notice to see how the site would use the information you provide. If it is missing, that is your red flag that the site would use your information for other reasons, and you should have second thoughts about doing business with them.
- Don't fall for high-pressure tactics. Scammers are notorious for using high pressure sale tactics, such as a "limited time only," "only a few in stock," or "buy now." Some legitimate businesses may use this too, but remember it is your money, you're in control, and it is okay to walk away if it is not something you need. If the deal is too good to be true, it probably is.
- Check your credit card statements. While it may be painful to look at how much you spent, checking your statement is important to spot fraudulent charges early.
References:
Junker, N. (27 November 2013). So many shoes, so little security: Your guide to Cyber Monday. Identity Theft Resource Center (ITRC). Retrieved from http://www.idtheftcenter.org/Cybersecurity/so-many-shoes-so-little-security-your-guide-to-cyber-monday.html
Mulpuru, S. (25 November 2013). US online holiday retail sales to reach $78.7B. Forbes. Retrieved from http://www.forbes.com/sites/forrester/2013/11/25/us-online-holiday-retail-sales-to-reach-78-7b/
Tresbesch, L. (27 November 2013). Top 8 tips for holiday shopping online (part II). Better Business Bureau. Retrieved from http://www.bbb.org/blog/2013/11/top-8-tips-for-holiday-shopping-online-part-ii/
Tresbesch, L. (27 November 2013). Top 8 tips for holiday shopping online (part II). Better Business Bureau. Retrieved from http://www.bbb.org/blog/2013/11/top-8-tips-for-holiday-shopping-online-part-ii/
Vancouver Island Better Business Bureau (26 November 2013). BBB offers advice to Black Friday and Cyber Monday shoppers. Retrieved from http://vi.bbb.org/article/BBB-Offers-Advice-to-Black-Friday-and-Cyber-Monday-Shoppers-44806