Every year, Black Friday marks the start of the big online shopping season. With spectacular discounts, express delivery, and bargain frenzy, this period attracts millions of consumers. Unfortunately, il also attracts another group: cybercriminals.
A prime time for fraud
According to TransUnion Canada, during the “Cyber Five” period (from the Thrusday before Black Friday to Cyber Monday), 2.6% of e-commerce transactions in Canada were suspected of fraud in 2024, compared to 1.7% in 2023 — an increase of more than 50% in one year.
This increase can be explained by an exceptional volume of purchases and often relaxed vigilance. Under pressure from limited-time offers, many consumers rush to make purchases without checking the legitimacy of the site or seller.
A survey conducted by NordVPN reveals that 32% of Canadians have been victims of online shopping scams, and that approximately 2 million people have had this experience specifically on Black Friday or Cyber Monday.
Threats on the rise
The most common types of fraud remain fraudulent e-commerce sites, fake order confirmation emails (phishing), and fake advertisements on social media that redirect users to malicious platforms.
Cybersecurity firm Kaspersky reports that in 2024 it blocked more than 38 million phishing attempts related to e-commerce and payments, an increase of 25% compared to the previous year1.
These attacks do not only affect consumers: merchants are also targeted. A simple flaw in a transactional website can lead to the theft of customer data, significant financial losses, and even damage to the company's reputation.
The importance of shared vigilance
For consumers, a few simple steps can significantly reduce the risks:
- Only shop on well-known and secure websites (https address, padlock icon in the browser bar).
- Avoid clicking on links in unsolicited emails or advertisements.
- Use credit cards or payment services that offer fraud protection.
- Update your password and avoid using the same one for multiple accounts.
For businesses, it is essential to strengthen security controls during this high-volume period and to educate staff about cyber threats. For many organizations, cyber insurance can also provide essential financial protection in the event of an incident.
Conclusion
Black Friday is undoubtedly a peak period for online shopping, but it also remains a high season for cyber fraud. As the Canadian Anti-Fraud Centre points out, losses related to cybercrime now exceed $500 million per year2.
In short, while Black Friday deals are sometimes worth checking out, caution is still your best bet. Online, a good deal should never turn into a nasty surprise.
1 Kaspersky, 2024.
2Government of Canada, 2023.
