A new report from Kaspersky has uncovered a 25% increase in cybercriminals using payment services as bait to lure in unassuming shoppers, with stolen payment details routinely being sold on the dark web.

So far this year Kaspersky claims to have blocked close to 38.5 million phishing attacks related to online shopping, of which nearly half (44%) used financial services as bait.

According to the cybersecurity firm, that represents a significant increase of 24.9% over the same period last year, with the majority of attacks being phishing attempts targeting users of banking services (44.1%), followed by those mimicking payment systems (18%), and those impersonating e-shops (37.5%).  

Kaspersky said that victims of these scams find their stolen payment data is actively being traded on dark web forums, with prices ranging from $70 (£55) to $315 (£250) per set.

As shoppers prepare for Black Friday, Kaspersky’s researchers have observed cybercriminals and fraudsters gearing up to exploit this demand, attempting to steal personal data, funds, and spread malware through deceptive shopping lures.

Starting at the beginning of September, Kaspersky’s telemetry has detected a week-by-week increase in spam emails containing the term “Black Friday”. As the shopping event gets closer, the volume of these emails is surging, reaching a total of more than 198,000 spam messages in the first two weeks of November.

The report shows that scammers frequently impersonate major retailers like Amazon, Walmart, and Etsy, sending deceptive emails claiming to offer exclusive discounts.

These emails link to fake websites designed to mimic legitimate ones, with victims who attempt to shop on these sites typically losing their money.

Kaspersky found another widespread scam exploits consumers’ desire to win prizes, with fraudsters sending messages promoting limited-time surveys with prize draws, offering valuable rewards like a free iPhone 14.

To create a sense of urgency, the scammers claim only a few users can access the deal, pressuring recipients to act quickly, with the criminals offering a non-existent reward for sharing some basic personal information, such as an email address, and for spending money on the fake site.

Security researchers traced the pathways of fraudulent activity, revealing that stolen data is either exploited directly by scammers or sold on dark web marketplaces, where the value of the data determines its price.

For example, comprehensive sets of stolen credit card details, known as “fullz” on the dark web, typically include a full card number, expiration date, CVV code, cardholder’s name, billing address, and phone number, with pricing depending on the card’s quality and the region it comes from. 

Kaspersky’s study found that within the dark web, some sellers are offering discounts on stolen credit card details from countries like Canada, Australia, Italy, and Spain.

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“This year, dark web markets mirror the pricing strategies and marketing tactics of legitimate online retailers. Some even offer Black Friday-style promotions, such as discounts and bundled deals, similar to seasonal sales found on mainstream websites,” said  Marc Rivero, lead security researcher for Kaspersky’s global research and analysis team. 

To stay safe online this holiday season, Kaspersky recommends that when buying online consumers double check the legitimacy of e-shops, checking for spelling mistakes or errors in URLs and any design bugs, checking the reviews of unknown companies before purchasing, and keeping a close eye on credit cards and bank accounts to quickly spot any irregularities.