The rise of fake e-commerce apps and websites has become a significant concern, especially during the holiday season when online sales skyrocket to new heights. A recent report from RiskIQ has shed light on the alarming trend of cybercriminals targeting online shoppers with fraudulent e-commerce platforms in 2020.
One of the most disturbing findings from the report was the use of branded terms from popular e-commerce websites to lure unsuspecting shoppers. Thousands of fake apps were flagged for employing this strategy, utilizing not only holiday-related terms but also the names of well-known online retailers. This deceptive tactic has proven to be highly effective in tricking consumers into downloading malicious apps.
Moreover, fake websites with holiday-themed URLs were also identified and blacklisted for engaging in domain infringement. These websites present a serious threat to unsuspecting shoppers, potentially leading to personal and financial information being compromised.
Despite the clear risks posed by fake apps and websites, many consumers continue to put themselves in harm’s way by downloading apps from unverified sources outside of reputable app stores. Additionally, a concerning number of consumers admitted to neglecting basic security precautions such as reviewing app permissions or checking developer information before downloading an app.
The consequences of falling victim to these fake e-commerce platforms can be dire, with hackers gaining access to sensitive data like login credentials and credit card information. RiskIQ’s report highlighted numerous instances of credit card skimmers being used during the holiday season, underscoring the severity of the threat posed by fraudulent e-commerce platforms.
The repercussions of these online threats are not limited to consumers alone, as they also have detrimental effects on retailers. What should be a lucrative period of high sales can quickly turn into a security nightmare that damages customer trust and loyalty.
As a leader in digital threat management, RiskIQ is dedicated to providing valuable insights into online security threats and helping both consumers and retailers safeguard themselves against fake e-commerce platforms. With the continued growth of online sales, maintaining vigilance and implementing security measures are essential to combatting the pervasive threat of online fraud.
To learn more about how to protect yourself from fake e-commerce apps and websites, visit the official website of RiskIQ.
For tips on safe online shopping practices, check out this guide from the Federal Trade Commission.
