Guarding Your Holiday Joy: A Cybersecurity Checklist for Safe Festive Shopping - By Mitish Chitnavis, CTO, iValue InfoSolutions

While this is the season to be jolly, this is also when threats abound. Especially if you plan to do a lot of shopping on online platforms because the holiday season is a prime time for hackers, scammers, and online thieves.

While many of us are excitedly searching for the perfect gifts for our friends and family and are busy taking advantage of Cyber Monday deals and sales, malicious actors are lurking in the shadows. They are constantly on the lookout for opportunities to exploit unsuspecting shoppers, scouting for weaknesses in their devices or internet connections and trying their best to extract personal and financial information through fake websites, promises of extravagant deals or even an appeal to people's charitable side.

As we approach the holiday season, we must be vigilant against the increased activity of hackers, scammers, and online thieves. The key to safeguarding yourself lies in reinforced awareness. 

You might be excited about embarking on your online shopping extravaganza. But pause for a moment to reconsider and fortify the security of your device. Here are some steps you can follow:

Question, review, respond: Prior to proceeding with any online transactions, ensure that the device you're utilizing for online shopping is updated. These devices can extend beyond mobile phones and computers to even include smart home appliances like virtual assistants and TVs. 

Conduct a comprehensive review of the privacy and security settings on your devices to manage how your information is utilized and stored. Review the privacy and security settings on your devices to ensure a clear understanding of how your data will be utilized and stored. 

Additionally, confirm that you're divulging only what is necessary or desired. Check whether they possess robust passwords. Moreover, consider utilizing multifactor authentication if it's available for enhanced security.

Activate automatic software updates whenever possible, as maintaining the latest software version ensures ongoing support from manufacturers, including the latest patches to address vulnerabilities.

Ensure secure online shopping: Be mindful of your online search habits—avoid clicking suspicious links in emails or on web pages. Would you enter a mall with no stores just because it has a fancy signage? Apply the same caution while shopping online. 

And if you have doubts that the URL mentioned in an email could be illegitimate, simply type the retailer's or company's URL into your web browser as opposed to clicking the link. 

It's easy to determine how secure the site is—just check the browser's location bar for an "https:" website address, not "http: ". Also, verify the padlock icon; if locked, your data is encrypted. 

However, if something seems suspicious, exercise caution before making a purchase. Evaluate the information you share while shopping to learn what information you are handing over and whether it is essential for the purchase. 

Also, check the website's privacy policy before providing personal or financial information. This will give you a better idea of how your information will be stored and used.

Being informed is crucial: The holiday season is also called spam season for a good reason—our inboxes will overflow with promotional emails from retailers. Cybercriminals frequently deploy phishing emails, disguising them as legitimate retail communications, containing harmful links or requesting personal and financial details.

Scary as this social engineering can be, staying on top of things is possible. Before disclosing personal or financial details, ensure you're engaging with a trustworthy and well-established vendor. 

Thoroughly verify email sender addresses, and steer clear of clicking on dubious links or downloading attachments. Certain attackers may attempt to deceive you by developing malicious websites that mimic legitimate ones, but there are always some tell-tale signs of this dubiousness.

Confirm that your information is undergoing encryption, a standard practice employed by reputable merchants for secure transmission from your browser to their servers. Always authenticate the legitimacy of the source before sharing any information, and exercise extra caution when dealing with unfamiliar entities.

Employ robust and distinct passwords: Refrain from using easily predictable or commonplace passwords. Moreover, try not to use the same password for different devices or accounts. 

Consider utilizing a password manager for enhanced convenience. Upon acquiring an internet-connected device, modify the default password, and implement varied strong passwords for each device to bolster security.

But most importantly, never provide your password, or personal or financial information in response to an unsolicited email. This is the easiest way for attackers to try and gather information of unsuspecting shoppers; they often send emails requesting that you confirm purchase or account information. No legitimate business will not email you or call you asking that you share this personal information, so this is a major red flag that you need to keep an eye out for. 

Keep an eye on your accounts: Payment fraud incidents tend to see an upward tick during the holiday shopping rush. Periodically scrutinize your bank and credit card statements for any unauthorized transactions. 

If possible, opt for a credit card rather than a debit card. Legal regulations exist to restrict your liability in the case of fraudulent credit card charges, though the protection level may differ for debit cards. 

Moreover, given that a debit card deducts funds directly from your bank account, unauthorized charges could potentially result in insufficient funds to cover other expenses. Additionally, consider employing a credit card, particularly when utilizing payment gateways like UPI, which ask you to sign in and also share an OTP, which can alert you if someone is trying to misuse your card.

As you will probably make more purchases during the holiday season, ensure that you regularly review your credit card and bank statements for any signs of fraudulent charges. Promptly inform your bank or financial institution if you detect any suspicious activity. 

Better safe than sorry 

According to the FBI, "Every year, thousands of people become victims of holiday scams. Scammers can rob you of hard-earned money, personal information, and, at the very least, a festive mood."

As the festive season unfolds, businesses could encounter a heightened susceptibility to cyberattacks, especially with the emergence of contemporary threats such as AI-powered attacks aimed at merchants and online establishments. This year, the added challenge of remote workers utilizing company devices at home or while on the move introduces an extra layer of risk. 

Consider these considerations if a deal appears unusually enticing during this holiday season. Don't allow cybercriminals who constantly enhance their techniques to steal your financial information to spoil your festive spirit!