ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Amazon Prime Day: Scams to watch for during major sales event

Cybersecurity experts are warning shoppers that scammers are on the hunt during major online sale events like Amazon's Prime Day, a two-day shopping bonanza.

July has become synonymous with online retail sales. Prime Day kicked off this week, but retail rivals are also issuing competing sales to capitalize on the buzz of Amazon's two-day event. 

Walmart and Target are just some of the heavy hitters in the industry offering their own sales to lure in shoppers. 

The downside: It provides a big opportunity for scammers to target online shoppers.

AMAZON PRIME DAY SPENDING EXPECTED TO REACH RECORD $14B

The Better Business Bureau (BBB) warned consumers to be wary of phishing scams, misleading advertisements and lookalike websites.  

But "this year, scammers are more sophisticated than ever, employing tactics like phishing emails and fake websites to steal your personal and payment information," Ariel Parnes, former head of the Israeli Intelligence Service Cyber Department, told FOX Business. 

One of the best things to do is to slow down when sifting through these sales, according to Shawn Waldman, founder of cybersecurity consulting firm Secure Cyber Defense. 

US RETAIL SALES UNCHANGED IN JUNE, BEATING FORECASTS FOR SLIGHT DROP

"If you’re in a hurry, you’re more likely to make mistakes.  Secondly, if something looks suspicious, trust your gut – it's the cheapest and most effective form of security," Waldman told FOX Business. 

Phishing emails and fake websites

These types of scams are "designed to steal your personal and payment information," Parnes said. 

He said shoppers need to be cautious of emails that request personal information or login details. Shoppers should always verify the address beforehand. Scammers will often use similar email addresses, but there will be "subtle differences," Parnes said. 

He also said to not click on any links within unsolicited emails.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Fake websites 

Ensure sites always start with "https://". 

Certain scam sites will misspell things in the URL, such as replacing "I" with "l" or "o" with "0," which are common tricks used by scammers to create fake websites that look legitimate, according to Parnes. 

To avoid falling for this, shoppers should use official channels like Amazon’s official app or website rather than search engines. 

Waldman also said it's important to be cautious about ads on the internet given that hackers often use tactics called "phishing hole" attacks. This is when malicious ads are placed on websites to trick a person into clicking on them. 

"These can be particularly dangerous during Prime Day, as such ads may contain links to malware or software that can steal your passwords and other sensitive information," he added. 

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.