Cybercrime and financial fraud risks rise during festive seasons

Cybersecurity experts and authorities are warning of a significant increase in financial fraud, phishing, and social engineering attacks during the year-end festive season. The surge in online shopping, digital transactions, and travel bookings provides ideal conditions for criminals to exploit consumer trust through platforms like WhatsApp, SMS, and email.

Common tactics include fraudulent social media marketplace listings, fake e-commerce side-hustle schemes, and impersonation of international organizations. In India, recent cases include a woman losing ₹57.3 lakh to individuals posing as UNHCR representatives and an IT professional losing ₹38.51 lakh to an online investment scam. Additionally, extortion via matrimonial apps has been reported in Udupi.

In Mexico, authorities in Yucatán and Coahuila have noted rising claims related to unauthorized card transactions and fraudulent Facebook Marketplace listings, particularly as citizens receive year-end bonuses. Experts recommend verifying website addresses directly, avoiding suspicious links, and remaining cautious of urgent requests for sensitive information or advance payments.