U.S. Treasury Issues Warning on Cyber Scams Amidst Holiday Shopping Season

U.S. Treasury Issues Warning on Cyber Scams Amidst Holiday Shopping Season

WASHINGTON – November 22, 2023 – The U.S. Department of the Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (OCCIP) has issued a consumer advisory today, emphasizing precautionary measures against the rising threat of cyber and online scams during the upcoming holiday shopping season.

This year, the advent of artificial intelligence (AI) has empowered cybercriminals to automate malicious phishing attacks. As these criminals harness AI to learn and adapt in real-time, consumers are urged to remain vigilant and take proactive steps, especially during the holiday season, when cybercrimes often experience an upsurge. The advisory aims to equip individuals with the knowledge needed to safeguard themselves and their personal information from falling prey to fraudulent activities.

The OCCIP is calling on Americans to maintain heightened awareness, proactively protect themselves, and respond promptly if targeted by scammers or fraudsters.

“Every year, cybercriminals are becoming more sophisticated in exploiting consumers, and this year is no exception with the proliferation of AI,” warned Deputy Assistant Secretary for OCCIP Todd Conklin. “If an online deal appears too good to be true, it probably is. Take the time to think, research, and consult with someone you trust. Resist the pressure to hastily make a purchase or pay for a service. Legitimate businesses and individuals will afford you the time to make informed decisions.”

The advisory outlines several key tips for consumers to follow, emphasizing preventive actions to avoid falling victim to scams. It also provides a comprehensive guide for individuals who have unfortunately been defrauded, offering steps to attempt to mitigate damages and losses.

With the holiday season just around the corner, the OCCIP’s advisory serves as a timely reminder for consumers to exercise caution and adopt secure online practices. As cyber threats evolve, staying informed and implementing recommended security measures are crucial steps in safeguarding personal and financial information during this festive shopping period.