New insights show that an alarming 90% of Americans are targeted in a digital scam attempt.
F-Secure’s U.S. Scam Intelligence & Impact Report has also found that one in every four US citizens believed they fell victim to a scam, while three in 10 lost money to cybercrime.
It’s the reality that comes with digital shopping. F-Secure, the world leader in scam protection units, says these digital scams are getting more sophisticated, and those who fall prey are rapidly rising in the US.
With customers doing last-minute shopping online, businesses are warned to sharpen security measures and tighten consumer protections.
Scammers continuously exploit people
The statistics released by the security firm paint a bleak picture of how scammers are getting smarter. 66% of Americans encountered scams at least monthly last year.
With more opportunities to lose money, time, and personal information, online companies will have to get smarter to protect and warn customers to maintain their trust and loyalty.
Billions of dollars lost through scams
A staggering $159 Billion was lost to scams in the US alone last year. Scam victims or online shoppers lost $2,600 each on average.
Businesses, take note: According to this new report, seven in 10 Americans admit worrying about their online safety. To stand out from your competition, it’s worth investing more in making customers feel safer with extra security features.
How do you make customers feel extra safe online?
- Enable two-factor authentication that can add an extra layer of security by requiring a code sent to the customer’s device.
- Use address confirmation prompts to make sure a customer double-checks delivery addresses during checkout to prevent fraud.
- Offer secure payment options like PayPal or Apple Pay. By using well-known payment methods, customers are more likely to purchase from you again.
- Monitor and notify customers with alerts of suspicious login or transaction activity in real-time. Rather over-communicate than under-communicate.
Scams are going to spike even more: Stay vigilant
F-Secure warns that scam attempts will continue rising. However, it’s each company’s duty to keep their customers’ data and information secure.
“The rise of AI adds a new layer to how US citizens can be taken advantage of. This technology is being leveraged nefariously to create believable fake voices and images from citizens’ data, such as pictures, videos, and audio posted on the internet,” warns Laura Kankaala, head of threat intelligence at F-Secure.
Ultimately, it’s up to us to take back our power and protect ourselves by combining technology, expertise, education, best practices, and vigilance.”
Infographic credit: F-Secure
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About the author
Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.
