Cyber Monday is fast approaching. Widely regarded as the busiest online shopping day of the year it’s met with eager anticipation by retailers, card issuers and consumers alike. On one side of the equation it’s all about the sale – how much stock can they shift? – and on the other, it’s about grabbing a bargain. To many observers this sounds like a match made in heaven but, as with any partnership, no one knows what really happens behind closed doors.

In this case, the relationship between consumers and retailers is held together by cyberspace. Some people believe that it just works but the reality is that the online buyer-seller relationship can falter at any one of a number of hurdles. That’s why the thirst for a bargain and the hunger for a sale could combine to ensure people lose focus on the need for proper cyber security – leaving both parties out of pocket.

This year, Cyber Monday is expected to see unprecedented discounts and offers launched by a wide range of UK retailers. While the concept originated in the US, it has taken hold in the British retail calendar and this is not something cyber criminals have failed to notice.

They, like everyone else, are aware that Cyber Monday is synonymous with increased levels of web traffic. Given the short-term rise in browsing, retailers who want to meet their customers’ expectations are in a difficult position. They run the risk of mistaking the high volumes of web traffic as demand for their products, rather than what could just as easily be an orchestrated attack designed to bring down websites. After all, increased web traffic can provide ideal cover for cyber criminals to conduct some of their activities under the radar while the retailers are trying to fulfil online orders and meet backend payment system requirements.

There is also the risk that they can target unsuspecting consumers with malware and phishing attacks. Of course, a promote and deliver at all costs mentality may drive immediate sales, but the long-term cost if customer data is compromised will outweigh any profits made on the day. You wouldn’t blame a policeman for a burglary at home, if you don’t lock doors and windows and, in the same way, with payment card data having long been a target for cyber criminals, the onus must also be on consumers to protect their details.

Challenge for the retailers

If consumers play their part, the other question is whether an increase in the volume of browsing and buying can weaken the normal security controls simply because card-issuers’ usual review and control systems become overloaded.

Are retailers paying the right level and the right kind of attention to security during this busy period? For those that have good security monitoring the issue will already be on their agenda; yet at this peak period where volumes of transactions and security alerts are is higher there is always the possibility systems fail to pickup key indicators. This can be further hampered by the drive to get the goods out of the door.

Another challenge for the retailer is that consumers make more unusual purchases during the pre-Christmas period. Unusual behaviour is usually spotted – but at a time when activity can be explained away as seasonally adjusted behaviour, trend analysis can be misleading. It begs another question that is difficult to answer around whether large purchases are an indicator of fraud or the precursor to a lucky individual getting the Christmas present of their dreams.

Challenge for the consumer

With an increase in marketing material hitting our inboxes in the build-up to Cyber Monday, cyber criminals also seem to have a gift of their own – an almost unprecedented level of mail to target consumers. Through carefully crafted emails and websites, some consumers may be lured towards malicious sites, potentially giving away access to usernames, passwords or even payment card details.

The trick is for consumers to look very carefully at any email before clicking on links. Vigilance is critical and must win over the rush to click on an offer. As the cliché suggests, if something seems too good to be true, it probably is. It may also be true that cyber criminals will not be able to turn what they discover into cash immediately, but what they glean can provide a gold mine for identity theft if login, payment and other details are easy to access. That’s why it is important for consumers to be cautious and make sure that they mitigate the risk before playing “click and collect”.

Or, to put it another way, retailers and consumers must work hand in hand. If they don’t, Cyber Monday could come crashing down.

Del Heppenstall is a director in KPMG’s cyber security practice

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