Cyber Monday Safety: How to Protect Your Money While Shopping Online

Cyber Monday has quickly grown into one of the busiest shopping days of the year, attracting millions of buyers eager to take advantage of online deals. Just last year, Cyber Monday hit a record $13.3 billion in online sales.

While the convenience and savings are undeniable, the risks have grown just as quickly. Scammers and cybercriminals know this is when consumers are most active, and they take advantage of the excitement to trick shoppers into giving up personal and financial information.

Protecting your money and identity while shopping online is an essential part of maintaining financial security in today’s digital world.

“Fortunately, you don’t have to sacrifice safety for savings. With some simple but effective precautions, you can reduce your risk, enjoy your holiday shopping, and start 2026 without worry of financial fraud,” says Scott Mass, Senior Vice President, Investments at David Lerner Associates, Inc.

Here are ways that you can protect your finances this Cyber Monday and the rest of the holiday season.

Watch Out for Scams and Fake Websites

Fraud is a big problem for consumers. In 2024, more than $12.5 billion was reported in fraud losses—a 25% jump from the year before.

Online scams tend to spike around the holidays, when more people are browsing for bargains. Fraudsters know that attractive deals catch attention, so they often create fake websites or send emails that look like they come from major retailers. These sites may advertise items at shockingly low prices but if the deal looks too good to be true, it probably is.

Here are a few ways to protect yourself:

• Stick to websites you know and trust. Well-established retailers are less likely to expose you to scams.
• Always check the web address before entering payment information. Look for small misspellings, odd domain endings, or extra characters designed to mimic real sites.
• Avoid clicking on links from unsolicited emails or flashy ads. Instead, type the retailer’s address directly into your browser.
• Look for secure site indicators such as “https” at the beginning of the URL and a padlock icon in the browser bar.
• When possible, shop through official apps instead of unfamiliar websites to reduce exposure.

Taking a few seconds to confirm a site’s legitimacy can prevent you from sharing sensitive information with criminals.

Protect Your Personal and Financial Information

The way you pay online (and the precautions you take) can make a big difference in your level of protection. Credit cards generally provide more safeguards than debit cards, including fraud protection policies that limit your liability if your information is stolen. Some card issuers even allow you to generate virtual card numbers for safer one-time use.

Additional best practices include:

• Use strong, unique passwords for each shopping account, and consider using a password manager to keep them secure.
• Enable 2FA (two-factor authentication) on accounts whenever possible for an extra layer of protection.
• Avoid saving your payment details on retailer websites, even if it’s more convenient. This reduces the risk if that site is hacked later.
• Keep your devices, browsers, and apps updated with the latest security patches.
• Only shop on secure networks. Public Wi-Fi may leave you exposed to hackers using fake hotspots or monitoring activity.

If something feels suspicious—whether it’s a pop-up message asking for details or an unusual payment request—pause before you continue. Trusting your instincts can keep you from making costly mistakes.

Stay Alert to Identity Theft Risks

Identity theft is a growing problem, and online shopping events like Cyber Monday make older consumers especially vulnerable. People over 60 suffered nearly $5 billion in cybercrime losses in 2024, the most of any age group.

Criminals may try to gather details such as your Social Security number, date of birth, or address to commit fraud long after the holiday season ends.

To lower your risks:

• Monitor your credit reports regularly for suspicious activity. The FTC recommends AnnualCreditReport.com allow you to check your reports and spot any unusual or unauthorized.
• Set up transaction alerts with your bank or credit card company so you’ll be notified of unusual charges right away.
• Be cautious about sharing personal details online or on social media. Even seemingly harmless posts can give criminals information they can use.
• Shred physical documents that contain personal data before discarding them to reduce the risk of theft from mail or trash.

If you believe your identity has been compromised, act quickly. Notify your financial institutions, place a fraud alert with the three major credit bureaus, and consider freezing your credit to block new accounts from being opened in your name. Acting early can help minimize long-term damage.

Strengthen Your Online Shopping Habits

Beyond specific precautions, adopting smarter habits year-round makes a big difference.

• Use price comparison tools from trusted sites instead of clicking unknown ads.
• Read product reviews carefully to avoid counterfeit or poor-quality items.
• Create a separate email address for shopping accounts to reduce phishing attempts in your primary inbox.

These small adjustments make it harder for scammers to gain access to your data.

It also helps to discuss safe shopping habits with family members, especially older relatives or young adults who may be less familiar with online risks. Sharing knowledge creates a stronger shield for your entire household.

Conclusion

Cyber Monday offers opportunities to save, but only if you shop with security top of mind. By taking the above precautions, you can enjoy the excitement of the holiday shopping season without putting your finances at risk.

If you’d like to understand how secure spending choices fit into your broader financial picture, reach out to us at David Lerner Associates. Together, we can review your current strategy, identify ways to protect your assets, and build confidence in your financial security—not just during the holidays, but all year long.

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Material contained in this article is provided for information purposes only. It is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. These materials are provided for general information and educational purposes, based on publicly available information from sources believed to be reliable. We cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.