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Abney & Associates News Articles: 5 Ways to Stay Safe From ID Thieves, Fraud on Cyber Monday

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NEW YORK (TheStreet) -- Cyber Monday has a ways to go before it measures up to its book-ended big brother, Black Friday.

 

But it's moving up fast, and that should lead to more safety concerns over identity theft and online scams among technology consumers.

 

According to IBISWorld, Cyber Monday pulls in 15% of the revenues of Black Friday. But this year, it should grow by 13.1% compared with last year to bring in $1.8 billion -- the biggest technology day on the calendar for U.S. retailers.

 

"The $1.8 billion shopping day has increasingly made its way to the top of shoppers' preferences for its plethora of online deals and free shipping promotions," IBISWord says. "This year will be no exception, as Cyber Monday outpaces growth during the remainder of the holiday shopping weekend."

 

Growth is great, but like ants to a picnic, bigger cash payouts on key holidays attracts a criminal element, many of whom have spent the year crafting ways of separating technology consumers from their money on Cyber Monday.

 

Many of those consumers will be shopping online, and that raises the risk of cyber fraud, says the East Greenbush, N.Y., Center for Internet Security.

 

CIS says that more holiday shoppers will shop online on Cyber Monday than go shopping at bricks-and-mortar stores this year. Consumers using mobile payments via smartphones and tablets will account for $10 billion in sales during this year's holiday season.

 

"Whether you'll be conducting transactions from your desktop, laptop or mobile device, there are many tips you can implement that will help protect you from identity theft, phishing scams and other malicious activity, not only on Cyber Monday, but throughout the year," says William Pelgrin, CIS president and CEO.

 

 

CIS advises these steps:

 

Build a firewall. Make sure to use different passwords on your various banking and credit card accounts. That reduces the odds of getting wiped out by an online fraud artist, CIS says. Also, install anti-virus and anti-spying software on all of your mobile payment and computer devices. Here's a useful review of mobile phone anti-theft apps.

 

Watch for fake apps. Cyber thieves know we love mobile apps and often "plant" bogus apps that exist only to siphon off all of personal financial data. "Every time you download an app you open yourself to potential vulnerabilities, so research those you plan to download to verify their legitimacy," CIS says. "Update all apps when notified and disable Bluetooth and Near Field Communications when not in use to reduce the risk of your data, such as a credit card number, being intercepted by a nearby device."

Source: http://www.thestreet.com/story/12127229/1/5-ways-to-stay-safe-from-id-thieves-fraud-on-cyber-monday.html