The end of the year is a time of sometimes frenetic shopping and unusual financial transactions. However, this commercial frenzy is fertile ground for fraudsters. They take advantage of the festive atmosphere, and even the impatience of consumers, to commit fraud.
As 2024 draws to a close, what are the most common types of fraud and how can you protect yourself against them?
Here’s an overview of this phenomenon.
A rise in fraud at the end of the year
Statistics regularly show a marked increase in payment fraud at the end of the year. According to a recent study by the French Banking Federation, cases of bankcard fraud increase by an average of 20% during the months of November and December. This increase can be explained by the intensification of e-commerce activities, particularly during the Christmas shopping season.
At the same time, there has been a relaxation in account monitoring, and payment fraud is often detected late, in January.
The most common types of fraud for Christmas 2024
- Phishing: Fraudsters send e-mails or SMS messages pretending to be legitimate companies, often offering highly advantageous time-limited promotions. The lure of a good deal, valid for a very limited time, encourages buyers to provide their bank details. One example: SCNFConnect was the target of a large-scale phishing campaign at the end of the year, offering a 95% discount. A tempting bargain for family and/or friends over the festive season.
- False messages from carriers: The victim receives an e-mail or SMS message purporting to be sent by a carrier, indicating that his or her parcel could not be delivered. The message offers a link to reschedule emergency delivery at the victim’s expense. On clicking, the victim is redirected to a site resembling that of the carrier. They are asked to enter their personal and banking details. Once this information has been retrieved, fraudsters often follow up with a phone call. A so-called bank advisor claims to have detected abnormal movements on the victim’s account. Under the pretext of securing their accounts, the dummy advisor encourages them to validate a procedure on your banking application. In reality, this validation authorizes fraudulent purchases using the victim’s data.
- Fraudulent resale of Christmas gifts : 4 out of 10 French people want to resell their gifts, and marketplaces such as eBay, Vinted or Leboncoin are very popular (see article). To avoid scams, it’s important to respect the online platform, which offers guarantees for both buyer and seller. Accepting direct payment outside the platform means taking the risk of paying without ever receiving the goods you wish to buy.
Necessary tools
These fraudulent transactions are not the work of an isolated individual. Fortunately, the Heptalytics solution can identify potential network effects linked to fraudulent transactions.
But in this context, risk education and human vigilance are essential. Prevention is better than cure.
The holiday season can remain a time of joy and sharing, without starting 2025 with unplanned overdrafts.
