Fraudulent auctions: how to spot and protect yourself from fake bids

Recently, fraudulent emails and social media messages have been popping up again, luring you with incredibly good auction deals. For example, the offer of a MacBook for CZK 74 is too good to be true. These scams are designed to get your personal information or money.

How do these scams work?

Scammers spread messages via email or social networks that contain links to fake auction portals. These sites often lack a secure connection (https) and have a suspicious design. After registering and logging in, users are invited to participate in auctions with extremely low prices. Even when users bid, automated scripts always overbid them, leading to further inflated amounts. In the end, users lose the money they put into the system and do not receive any goods.

How can I protect myself from fraudulent auctions?

• Check auction portals carefully: Before registering on an unfamiliar auction site, check its credibility. Look for reviews and experiences of other users.
• Check your site security: Trusted sites use a secure connection (https). If a site does not have a valid certificate, this is a warning sign.
• Be wary of suspiciously low prices: offers with extremely low prices are often fraudulent. If the price is too good to be true, it is probably a scam.
• Don’t share sensitive information: never share personal or financial information on untrustworthy sites.

How can BOIT help you?

BOIT offers vulnerability testing and social engineering services to help organisations identify and prevent similar threats. Check here for more information.

Be careful and protect your personal data from fraudsters!