Cyber Monday carries risk of increased identity theft as online shopping grows

There is a dark side to Cyber Monday. With so many people giving up their personal information to shop online at steep discounts, “cybergangs” are gearing up to steal as much of that information as possible, according to a report from USA Today.

According to PriceGrabber.com, 41 percent of consumers plan to use online shopping this year, up from 37 percent last year. According to the report, as those millions of people log into websites, many of them are doing so on outdated versions of web browsers such as Internet Explorer, Mozilla Firefox, Google Chrome, or Apple’s Safari. Older browser versions are not updated with the latest security patches that can protect users from cyber-theft.

The USA Today story offers tips for shoppers looking to avoid having their identities stolen that include being wary of links shared over social media and avoiding using a debit card for online transactions.

Click here to read the full USA Today article.

Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2