Don’t Let Scams Break Your Holiday Spirit
The holidays are a time for connection, and celebration. Unfortunately, with that comes scammers hoping to cash in on the increase of online shoppers. Millions of Americans fall victim to online fraud, phishing scams, and fake websites every year. Here are some tips to keep your holiday spirit high and your wallets safe.
Shop on Trusted Websites
Before you fill up your cart, take a minute to make sure the website you’re shopping on is legitimate. Always look for the “s” (https://) in the URL, which means the sire is secure and uses encryption to protect your data. Trusted retailers will also have clear contact, warrantee, and return information – you shouldn’t have to go digging for it.
Be wary of ads that come through emails and social media promising unbeatable prices. These links can lead to spoofed sites designed to steal your information. If you’re shopping with a new retailer, do a quick online search for the company to verify its legitimacy and scroll through reviews before entering any personal or payment information. This is a simple way to protect yourself online.
Choose the Right Payment Method
When it comes to protecting your money online, how you pay makes a difference. Use a credit card or a payment method that offers stronger fraud protection than a debit card. Credit cards usually limit liability for unauthorized purchases and give you the ability to dispute fraud. Many credit card companies even offer built-in fraud alerts and zero-liability policies.
Debit cards draw funds directly from your checking account and if fraud occurs, you may not get your fund back right away. After the dispute comes an investigation process and funds may not be returned until that is completed. By using credit card, you add an extra layer of protection between scammers and your cash, and you may even be able to cash in on perks and promotions, stretching your money even further.
Don’t Shop on Public Wi-Fi
Your favorite coffee shop or bookstore may be the perfect place to complete your shopping list, but public Wi-Fi is never a secure place to make purchases or log in to financial accounts. Hackers can easily steal data transmitted over open networks, putting your information at risk. If you must have to shop while out and about, use your mobile data connection or a trusted virtual private network (VPN).
You should also keep your computer, phone, and apps updated with the latest security patches. Updates often include important protection against threats, helping you stay a step ahead of scammers.
Don’t Fall for “Too-Good-to-Be-True” Deals
If a deal looks unbelievable, it usually is. Fraudsters often use catchy ads and countdowns to create a sense of urgency. Common scams include fake websites selling high-demand items like game consoles or designer goods at prices way under what you’d get them at a store for. Always think before you click, trust your instincts, and if you have any doubt, just opt out.
Monitor Your Accounts
Even the savviest shoppers can fall victim to fraud. That’s why you should monitor your accounts regularly. Review your transactions frequently and report suspicious activity right away. Setting up account or transaction alerts through your credit union’s online banking or mobile app can help you catch unusual activity early before it snowballs into a bigger problem.
Peace of mind is one of the best gifts you can give yourself this holiday season. By taking a few simple precautions like shopping smart, using secure payment methods, and keeping a close eye on your accounts, you can protect your finances and focus on what really matters: enjoying the spirit of the holiday season with your loved ones.
By Rachel Caballero | TruWest Credit Union
