NAIROBI, Kenya- The holiday season is here, and with it comes a flurry of online shopping deals and digital transactions. But as consumers hunt for the perfect gift, cybercriminals are also out in full force.
Visa has issued a timely warning, urging consumers to remain vigilant and prioritize security during this high-risk period.
Holiday Scams: What Consumers Need to Know
Visa’s Vice President and General Manager for East Africa, Chad Pollock, emphasized the importance of awareness in thwarting fraud.
“With the increase in online shopping, we’re seeing a rise in fraud tactics, including phishing schemes and one-time passcode bypass methods,” Pollock noted.
Despite growing awareness of cyber threats, the gap between confidence and action remains stark.
While over half of Kenyan consumers believe they can avoid online scams, a whopping 90pc fail to recognize key fraud warning signs. The festive season’s surge in transactions only heightens the need for vigilance.
Pollock also highlighted risks in retail environments, cautioning against physical theft of payment cards or smartphones.
Visa has implemented advanced technologies like artificial intelligence and machine learning to detect and block fraudulent transactions as they happen. The tools are particularly crucial during busy shopping seasons when online traffic—and fraudulent activity—reaches its peak.
These systems work silently behind the scenes, analyzing transaction patterns and identifying red flags, ensuring that legitimate consumers can shop uninterrupted while scammers are stopped in their tracks.
Stay Secure: Visa’s Tips for Safe Online Shopping
To help consumers navigate the holiday shopping frenzy safely, Visa launched its ‘Stay Secure’ campaign. The initiative equips shoppers with practical security tips, including:
- Real-time alerts: Enable notifications for purchases to quickly catch unauthorized transactions.
- Multi-factor authentication: Add an extra layer of security to your online accounts.
- Avoiding too-good-to-be-true offers: Steer clear of unconventional payment methods like cryptocurrency or gift cards for suspicious deals.
Visa also recommends keeping your security software updated and using trusted payment platforms to reduce risks.
Visa’s efforts aim to build consumer confidence in digital payments, fostering safer online shopping while supporting the booming e-commerce sector. With the right tools and a little extra caution, consumers can enjoy the festive season without falling victim to holiday scams.
