Overview of phishing techniques: Urgent/limited supplies

Introduction

The internet has made online shopping possible for all different types of suppliers and consumers. Online shopping is everywhere, whether it comes to social media-based “stores” or retailing apps. As a result, scammers also poke their nose into online shopping to carry out supplier imposter scams by promising consumers perks like big discounts, overnight delivery, free shipping, urgent offers, or limited supplies. According to the Better Business Bureau (BBB)’s Scam Tracker Risk Report, online purchasing was the most common scam of 2019.

What type of shopping is incorporated in online shopping scams? The BBB discovered that the most common categories of products in shopping scams include jewelry, clothing, home décor, furniture, pets, health and nutrition, cosmetics and electronics.

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Scammers launch phishing campaigns in order to trick you into clicking a malicious link. They do this by offering a good deal or trying to get you to go to a fake website that pretends to be a known retailer and trick you into entering your credentials.

In this article, we will delve into the ways that supplier imposter scams work, point out some potential red flags and explain the most effective remedial measures to prevent supplier imposter scams.

How do supplier imposter scams work?

Whenever there are potential big discounts ahead in the market (such as during holiday seasons), scammers get ready to defraud consumers. This often involves using fake websites where they ask victims to enter credentials or sending victims malicious links that contain a piece of malware.

An attack typically starts with a mobile app or a bogus website. Scammers impersonate trusted retailers, using similar URLs, slogans and logos to trick buyers into believing that they are purchasing a real brand. Once they win the trust of the victim, he or she will be entering personal details into (Read more...)