Connect with us

Press Releases

Jewelers Mutual Cautions About Cyber Crimes

Larry Spicer shares advice to keep jewelers vigilant as forecasts predict a rise in online holiday shopping.

mm

Published

on

(PRESS RELEASE) NEENAH, WI — As the holiday shopping season nears, forecasts predict online sales to grow to historic levels as retailers turn to e-commerce to reach customers amid the COVID-19 pandemic, and consumers opt to shop online for added safety.

According to Forrester, online retail is expected to grow 18.5% this year. In preparation, Jewelers Mutual Group cautions jewelers that an increase in online shopping can also pose a risk of increased cybercrimes to their businesses.

Common cybercrimes jewelry retailers should be aware of include:

  • Identity theft using phishing techniques such as email or a phone call.
  • Setting up fake accounts that mimic those of a company’s suppliers, and then asking for payment to that account.
  • Taking over a store’s mailing system to obtain private information from its customers.

“When it comes to cybercrime, there are many precautions jewelers can take to prepare for the increase in online sales,” said Larry Spicer, Jewelers Mutual vice president of loss prevention and risk management. “Even if jewelers do not sell inventory online, any computer connected to the internet can become a source of attempted crime.”

Advertisement

Spicer advises jewelers to be aware of their vulnerabilities and implement steps to strengthen their security to protect their customers and business. The video below shares his recommendations.

A few safety tips from Spicer include the following:

  • Add security and anti-virus software with increased levels of intrusion protection systems and firewalls to any computer connected to the internet.
  • Update anti-virus software weekly or even daily.
  • Take extreme caution when opening and downloading email attachments unless you know exactly what it is and that it is a reliable source.
  • Additional cyber security tips and information can be found in Jewelers Mutual’s Clarity blog.

Advertisement

SPONSORED VIDEO

He Doubled His Sales Goals with Wilkerson

John Matthews, owner of John Michael Matthews Fine Jewelry in Vero Beach, Florida, is a planner. As an IJO member jeweler, he knew he needed an exit strategy if he ever wanted to g the kind of retirement he deserved. He asked around and the answers all seemed to point to one solution: Wilkerson. He talked to Rick Hayes, Wilkerson president, and took his time before making a final decision. He’d heard Wilkerson knew their way around a going out of business sale. But, he says, “he didn’t realize how good it was going to be.” Sales goals were “ambitious,” but even Matthews was pleasantly surprised. “It looks like we’re going to double that.”

Promoted Headlines

Most Popular