Cyber Monday is a term for the Monday immediately following Black Friday (the Friday following Thanksgiving Day) in the United States and it is increasingly becoming a popular day for online shopping. In fact, the entire week that is kicked off by Cyber Monday will generally see increased online retail activity.
It is estimated that last year's Cyber Monday was a record-breaker, with more than $1 billion in online spending in the U.S. that day. (Source: comScore).
With the increased volume of online shopping, it's important that consumers understand the potential security risks and know how to protect themselves and their information.
The following tips can help you stay secure while doing your shopping online:
- Secure your computer. Keep your operating system and application software updated/patched. Be sure to check that your anti-virus/anti-spyware software is running and receiving automatic updates. If you haven’t already done so, confirm that your firewall is enabled.
- Shop with trusted merchants. Limit your online shopping to merchants you know and trust. If you have questions about a merchant check with the Better Business Bureau or the Federal Trade Commission. Confirm the online seller's physical address and phone number in case you have questions or problems.
- Secure your online transactions. Secure Sockets Layer (SSL) is a technology to encrypt the credit card information that you send over the Internet. If you submit your financial information through an organization's website, be sure to look for indicators that the site is secure. Look for the browser's status bar and be sure “https” appears in the website’s address bar before making an online purchase. The "s" stands for "secure” and indicates that communication with the webpage is encrypted.
- Use strong passwords. If you need to create an account using a password with the merchant, be sure to create a strong password. Use at least eight characters, with numbers, special characters, and upper and lower case letters. Don’t use the same passwords for online shopping websites that you use for any other account. Never share your login and/or password.
- Avoid scams and fraud. Don’t ever give your financial information or personal information over e-mail, text or by phone. Be aware of unsolicited communications purporting to represent charities. Always think before you click on e-mails you receive asking for donations and contact the organization directly to verify the request.
- Do not use public computers or public wireless to conduct transactions. Do not use public computers or public wireless for your online shopping. Public computers may contain malicious software that steals your credit card information when you place your order. Criminals may be monitoring public wireless networks for credit card numbers and other confidential information
- Ignore pop-up messages. Set your browser to block pop-up messages. If you get an e-mail or pop-up message that asks for your financial information while you’re browsing, don't reply or follow the link. Legitimate companies won’t ask for financial information in a pop-up message. Close out of the pop-up message by closing out of the browser.
- Pay by credit card. Pay by credit card rather than debit card, as credit cards are protected by the Fair Credit Billing Act and may reduce your liability if your information was used improperly.
- Keep a paper trail. Print or save records of your online transactions, including the product description and price, the online receipt, and the e-mails you send and receive from the seller. Carefully review your credit card statements as soon as you receive them to confirm that all charges are legitimate. Contact your credit card company immediately if you have unauthorized charges on your account.
For additional information about safe online shopping, please visit the following sites: