ET Online
Nov 2, 2021
With the country recovering from Covid-19 pandemic, the festive season will see huge sales which can attract fraudsters.
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Neither companies nor consumers are shielded from potential cyber attacks that play on system vulnerabilities and positive consumer sentiment around huge discounts.
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High consumer demand and shortage of supply can very easily pave way for sale of counterfeit products. This can lead to decline in consumer trust and tarnish the reputation of the company
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Be careful while shopping as such goods (piled up since pandemic) are also being sold with tampered expiry dates in order to meet demands.
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Now since the pandemic has led to increased digital payments, festivals and sale seasons will be attractive periods for hacking and phishing attempts.
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Discounts and sales are misused by creation of fake online customers which can cause substantial cost leakage for the company.
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Crucial data, such as KYC information, bank account, debit/credit card information can also be collected through these websites which are then sold or misused.
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Websites resembling the existing e-commerce websites are often made to lure customers into buying products they never receive.
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Both companies and customers need to be proactive and take precautionary steps to curb such incidents.
Image Source: istock