7 Top Tips to Stop Scammers this 2021 Holiday Season
11/18/2021
We recently published tips on How to Stop Yourself from Being Scammed This Holiday Season. Now comes the last step to ultimate security - mitigating the risk before it even starts.
According to the Better Business Bureau (BBB), many common gifts will be in short supply due to the supply chain crisis. These supply shortages could lead to online purchase scams as desperate shoppers turn to shady websites in hopes of finding this year’s must-have gifts. According to the BBB, 40% of reported scams in 2020 were online purchase-related.
How to Protect Yourself from Holiday Scams
Holiday Scams come in many forms – fraudulent ads, phishing emails, phone calls, texts – here are some tips to help protect yourself from scams as you get ready for holiday shopping this season:
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Using Trusted Sites and Researching Sellers - Only use reputable sites you already trust. Search online for the name of the seller and product, plus words like “complaint” and “scam.” And read reviews about the seller and their products, too.
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Be Skeptical - Be careful purchasing sought-after products, especially during the holiday season, and feed your inner skepticism. This year’s “it” item? For a great price in mid-December? From a seller you’ve never heard of? See bullet #1.
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Pay by Credit or Debit Card - Paying by a card gives you more rights to dispute the charge if something goes wrong. And if someone tells you to pay by wire transfer, cryptocurrency, or mailing cash - stop and find another seller.
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Review Bank Statements - During the holidays, it’s challenging to keep track of purchases. Set a time every week to review your credit card and bank statements. If you find a fraudulent purchase or discrepancy, report it immediately before it becomes an even bigger issue.
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Keep Receipts - Save copies of your receipts and order confirmations from online orders. Hold onto them until you get what you ordered and know you won’t return things.
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Two-Factor (Multi-Factor) Authentication - Many people may see this as an annoying step to logging in, and that’s the point. This extra security barrier will require two or more credentials (like a fingerprint or a security key) to access your social media or other online accounts, letting you in and keeping hackers out.
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Keep Software Updated - It is vital to ensure your computer and cellphone have the most up-to-date software and encryption, which will give you crucial protection against security threats.
Spot a scam during holiday shopping - Report it to the FTC at ReportFraud.ftc.gov.
Here is how WE are protecting you this holiday shopping season and beyond:
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Zero-liability for fraudulent Debit or Credit Card transactions, with 24/7 monitoring and fraud alerts
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A new security system for Digital Banking that will prompt for a one-time passcode (text message, email, or automated phone call) for activity that is unusual for YOU.
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Unusual activity includes transfers outside of your normal transfer amounts, a login from a new geographical region, setting up a Bill Pay payee at a time of day you’re normally not online, etc.
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Regular Digital Banking activity will be unaffected, but if a fraudster has gained access to your credentials, we will be able to stop them in their tracks. You can learn more about keeping yourself safe and secure online by visiting our website.