As the frenzy of Black Friday deals descends upon eager shoppers, a sinister force lurks in the shadows of cyberspace. The UK’s cybersecurity chief has issued a dire warning: Black Friday is morphing into “Black Fraud Day,” with criminals exploiting artificial intelligence to trick consumers out of millions.
AI-Powered Scams Surge During Holiday Shopping Season
According to Richard Horne, the chief executive of GCHQ’s National Cyber Security Centre (NCSC), the holiday shopping period has become “prime time for cybercriminals.” As consumers hunt for the best bargains, scammers are deploying increasingly sophisticated AI-crafted schemes, making them harder to detect and resist.
“Criminals are using artificial intelligence to create convincing fake product listings and phishing emails,” Horne revealed in a statement. “They’re preying on the eagerness to save money amid the cost of living crisis.”
Staggering Losses from Black Friday Fraud
The financial toll of these AI-powered scams is staggering. Figures from the National Fraud Intelligence Bureau show that in the period between November 2023 and January 2024, UK consumers lost over £11.5 million to online shopping fraud – nearly £1 million more than the previous year.
More than 16,000 incidents of online shopping fraud were reported during this time, with victims losing an average of £695 each. Fraudulent listings for designer clothing and high-end electronics on social media platforms were among the most common traps.
“Never feel pressured into buying anything online,” cautioned Adam Mercer, deputy director of Action Fraud. “Creating a false sense of urgency is a tell-tale sign of a fraudster.”
– Adam Mercer, Deputy Director of Action Fraud
Social Media Platforms a Hot Spot for Scams
A closer look at the data reveals that social media has become a breeding ground for these AI-enhanced scams. Out of the fraud reports submitted to Action Fraud, a staggering 43% mentioned a social media platform. Online marketplaces were cited in 18.9% of reports.
The age group most frequently targeted by these scams were 30 to 39-year-olds, accounting for 23% of victims, closely followed by 40 to 49-year-olds at 20%. The average age of those defrauded was 42.
Scam Messages Flooding Phones During Black Friday
Consumers’ phones are also being inundated with fraudulent messages as scammers ramp up their efforts during the Black Friday period. Telecoms company Three reported that its customers are already seeing a surge in scam texts.
In the Black Friday period last year, Three’s customers reported close to 3,500 scam messages per day. Since January of this year, the volume of reported scam texts has been 170,000 higher each month compared to 2023.
Cybersecurity Experts Offer Tips to Stay Safe
To help consumers protect themselves from falling victim to these AI-powered scams, the NCSC is launching a public awareness campaign. Their top tips include:
- Setting up two-step verification on accounts for an extra layer of security
- Being cautious about clicking on links in unsolicited messages
- Researching companies and sellers by reading reviews on trusted sites
- Using credit cards for purchases, as they offer more protection than debit cards
As the battle against AI-wielding scammers heats up, staying vigilant and informed is key. By arming themselves with knowledge and taking proactive steps to secure their accounts, consumers can help ensure that Black Friday remains a time for deals and steals – not devastating scams.
