"Cyber scams are a problem any time of the year. But the holiday season often brings out the worst of them. That's because savvy cybercriminals know how to exploit such popular holiday activities as online shopping, travel, shipping, charitable giving, and digital payments. Scammers are also increasingly tapping into AI, cryptocurrency, and other advanced techniques to commit fraud. Using AI, for example, criminals are able to more easily and effectively impersonate trusted individuals and companies. These types of scams then become not only more convincing but more difficult to detect."
"The first type of scam highlighted by the Treasury Department is business impersonation. This was the most common category of online fraud reported to the Federal Trade Commission's Consumer Sentinel Network in 2024. Here, scammers devise an email or website that spoofs a trusted company or brand. The goal is to trick unsuspecting victims into divulging their account credentials or payment information."
Holiday-related online activities such as shopping, travel, shipping, charitable giving, and digital payments are prime targets for cyber scams. Scammers increasingly use AI, cryptocurrency, and advanced techniques to impersonate trusted individuals and companies, making fraud more convincing and harder to detect. Business impersonation is a leading form of online fraud, often carried out through spoofed emails, websites, and social media ads that trick victims into revealing account credentials or payment information. Consumers should validate transactions, verify seller legitimacy, secure accounts with strong authentication, and exercise caution when responding to unsolicited messages or ads.
Read at ZDNET
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