Five tips to avoid Black Friday and Cyber Monday scams
The frenzy of Black Friday and Cyber Monday generates billions in sales each year, but the frenzy also attracts cyber criminals. Whether you are running…
The Edinburgh Festivals are known the world over and have become a powerful income generator for the city of Edinburgh. In 2022, their economic impact increased in Edinburgh from £280 million (2015) to £407 million (2022) and are important drivers in the national economy. On average £33 is generated in impact for every £1 invested from the public*.
Unfortunately, this surge in income attracts people with malicious intentions who look to use unscrupulous means to steal or defraud businesses. Organisations of any shape or size can be impacted by fraud, particularly during busy times or when least expected.
In this guide, we highlight some of the ways that fraudsters may target your business during the Edinburgh Festivals, and the best ways to mitigate against being a victim.
Often the first port of call for anyone looking to book tickets for colleagues as a team building, or fun night out with clients is to check for ticket availability.
Fraudsters might sell counterfeit tickets for festival events or create fake ticketing sites to steal personal or payment information from unsuspecting buyers. These fake tickets are often sold through unauthorised channels or look-alike websites, so always make sure you visit the official Edinburgh Festival websites, use strong passwords and always use two-factor authentication.
The official Edinburgh Festival websites to access ticket and event information are:
Additionally, sponsoring events or taking advertising in official festival publications can bring a lot of attention to a brand or special offer. This, in turn, may present opportunities for fraudsters posing as festival organisers, or representatives, offering fake sponsorship opportunities to solicit funds. If you are approached by someone offering promotional opportunities, contact the official phone number of the festival in question to double check that the person who got in touch does work with them, and therefore the approach is legitimate.
For more advice on how to avoid being a victim of ticket scams, visit the Take Five – Stop Fraud website here – https://www.takefive-stopfraud.org.uk/ticket-fraud/
If your colleagues or clients require an overnight stay after watching a show, be alert to fake listings. Fraudsters can post fake accommodation on reputable booking sites, encouraging bookers to make payments in advance for properties that are not available for rent, or in some cases do not even exist.
Additionally, scammers may target businesses with fake emails or messages claiming to be from legitimate accommodation providers offering their property, then ask for personal information or payment details. To help protect your business and colleagues, before you make a booking:
Further advice on avoiding booking scams can be found in a Good Housekeeping blog here – https://www.goodhousekeeping.com/uk/consumer-advice/money/a33012561/holiday-booking-scams/
Overall, be suspicious of anything that is too good to be true and especially of any holiday offers that are unusually cheap or ask for a high deposit. Spend time researching where you want to stay to make sure the property you book does exist and is legitimate.
One of the most commonly reported company-related incidents is Business Email Compromise (BEC). This is where fraudsters attempt to exploit vulnerabilities within a businesses’ infrastructure by sending a fake, but well-designed email compromising an email account. If successful, the attacker will be in a position where they can access information about a business by accessing the victim’s mailbox containing business-confidential information. Additionally, an attacker may look to impersonate the account’s owner and ask for financial information or transfers to be made, which look legitimate.
Some attackers may also try to compromise email accounts by sending fake invoices to festival organisers, theatre companies or organisations looking to book hospitality for their colleagues or clients.
There is a myriad of ways scammers can look to take advantage of BEC and often organisations only tend to identify an account compromise when an external party notifies them. By having proactive monitoring, many businesses will be in a better position to mitigate against attacks. These include:
For more details on measures to take to avoid Business Email Compromise, and what to do if your organisation is targeted, read our blog on Preventative and Remedial Measures here – Business Email Compromise: Preventative and Remedial Measures – Cyber and Fraud Centre – Scotland (cyberfraudcentre.com)
Intensive promotional activities by festival organisers, theatre production companies and even hotels and restaurants to attract the impending influx of visitors to Edinburgh may be exploited by cyber criminals.
Threats to local hoteliers and hospitality providers could include:
The hospitality industry provides a wealth of potential opportunities for criminals. Given the cyber threat landscape, all organisations should prioritise prevention and education to be flexible, alert and adaptable to change. Conducting regular risk assessments, using a cybersecurity framework and providing regular training for staff will all increase cyber awareness.
For more information and advice, read this blog from UpGuard on Cybersecurity in the Hospitality Industry: Challenges and Solutions – https://www.upguard.com/blog/cybersecurity-in-the-hospitality-industry
Public Wi-Fi networks used by remote or hybrid workers during the festival can be targeted by attackers to intercept data and steal information. In a survey, 35% of people access public Wi-Fi three to four times a month, with 23% of people using public Wi-Fi to cut down on data use, and a further 20% using public Wi-Fi to make financial transactions**.
With the majority of hospitality and transport providers now offering free Wi-Fi, encourage your colleagues and clients to be mindful of potential hacking dangers, and how to avoid them. Criminals can set up a rogue hotspot with a name similar to a legitimate hotspot to trick unsuspecting users into connecting their network and intercept data.
Alternatively, data passing through a public Wi-Fi network is often unencrypted, and a man-in-the-middle attack could take place whereby a hacker intercepts the data travelling between a device and the Wi-Fi router, making it possible to steal confidential information such as passwords or credit card information.
So, how do you encourage your colleagues, suppliers or clients to stay safe?
For more information about how to protect your team when using public Wi-Fi, visit the Which website here and read their article on How to Keep Your Data Safe When Using Public Wi-Fi – 8 Quick Tips – https://www.which.co.uk/news/article/how-to-keep-your-data-safe-when-using-public-wi-fi-aZKdQ4L8sKI9
We’ve touched on some of the main ways that criminals may look to take advantage of organisations looking to engage with the Edinburgh Festivals and simple steps to take in the case of each type of fraud. Overall, the main strategies your business should take to try and prevent being a victim of an attack are:
By staying vigilant, having the right training, maintaining an awareness of current and developing threats, and implementing robust security measures, companies can better protect themselves, their teams and clients from fraud and cyber threats.