45% Indians targeted by shopping scams this festive season: McAfee
A recent survey by global cybersecurity firm McAfee has highlighted the worrying trend of deepfake shopping scams in India. The study found that 45% of Indian consumers have either been victims or know someone who fell prey to such scams, during the festive season from October 1 to October 28. Alarmingly, nearly half (46%) of those scammed suffered financial losses exceeding ₹41,500.
AI-driven scams heighten consumer concerns
The survey also emphasized that 78% of Indian shoppers are more worried about online scams in 2024 than the last one, mainly because of the rise of AI-backed deepfake scams. However, McAfee said it blocked as many as 24,000 suspicious or potentially harmful URLs during the festive season. The move came in response to increased vulnerability to cybercrimes due to changing shopping habits.
Online shopping trends fuel cybercrimes
The shift toward online shopping, which 66% of Indians prefer for its convenience and discounts, has unwittingly opened up opportunities for cybercriminals. Scammers have capitalized on this trend by creating fake shopping websites that mimic trusted platforms such as Amazon and Flipkart. These fraudulent sites often lure customers with unrealistic discounts of up to 99%.
Phishing attempts surge during festive season
McAfee's analysis of more than 800 unsolicited emails revealed that phishing attempts increased on peak shopping days, especially ahead of major festivals such as Durga Puja and Diwali. "Festivals are a time for celebration, but for cybercriminals, they're an opportunity," Pratim Mukherjee, Senior Director of engineering at McAfee, said. He further warned, "AI tools have made it easier for scammers to create convincing fake websites and celebrity endorsements."
Deepfake scams: A growing concern among Indians
The use of AI in cyber scams has made them a lot more sophisticated. 74% Indians believe cybercriminal activity intensifies during festive periods, while 84% are more worried about deepfake scams than last year, McAfee's survey found. These deepfakes often include fake endorsements and deceptive notifications that look alarmingly authentic. Missed delivery notices (37%), fake purchase alerts (30%), security warnings from e-commerce platforms (24%), and banking or credit card issues (43%) are common scam tactics.
Social media's role in online shopping scams
The impact of social media on buying decisions has also been leveraged by cybercriminals. Nearly 47% of Indian consumers said they came across scams which involved fake celebrity endorsements or dubious online retailers. Interestingly, 31% of consumers admitted they would think of buying from a new retailer found via social media if the deal seemed attractive, making them easy targets for fraudsters.
