Protect Yourself from Holiday Scams This Season

Security

November 01, 2024

HolidayScamAlert

As the holiday season approaches, consumer spending spikes, and unfortunately, so does fraud. Cybercriminals ramp up their tactics this time of year, targeting unsuspecting shoppers with new scams and schemes. At Velocity Community Credit Union, we want to help you stay safe from these common holiday scams so you can enjoy the season worry-free.

Common Holiday Scams

  1. Fake Shopping Websites
    Scammers create fake websites that look like popular online stores. These sites lure shoppers with huge discounts but exist only to steal personal and financial information. Before entering your card details, check if the website URL starts with “https” and has a padlock icon. Look up reviews and avoid deals that seem too good to be true.
  2. Seasonal Job Scams
    Many people seek extra work during the holiday season, and fraudsters are quick to post fake job ads. These ads may require personal information or upfront fees. Stick to reputable job boards and research any company thoroughly before sharing personal details.
  3. Phishing Emails and Texts
    During the holidays, phishing attempts increase. Emails or texts may claim to be from reputable retailers, delivery companies, or even your financial institution, asking for your login credentials or payment info. Don’t click on links in unsolicited messages. Instead, contact the company directly using their verified website or customer service number.
  4. Impersonation Scams
    Fraudsters may pose as banks or credit unions, calling about “suspicious” transactions to get personal information. Remember, Velocity Community Credit Union will never ask for your login details or ask you to grant remote access to your device. When in doubt, hang up and call us directly.
  5. Fake Charity Scams
    Many legitimate charities ask for donations during the holiday season. Unfortunately, scammers pose as charities, too. Research any charity through sites like Charity Navigator, and avoid donating to those that pressure you or request payment in gift cards or cryptocurrency.
  6. Card Declined Scams
    Be cautious when shopping on unfamiliar websites. In this scam, you may see a message saying your card was declined after making a purchase. In reality, the transaction went through, but the scammers are trying to trick you into entering another card. This could lead to being charged twice or exposing additional financial information. Always verify transactions through your bank or credit union before taking further action.
  7. Gift Card Scams
    Scammers often target gift cards with a tactic called “gift card draining.” They steal card information from in-store racks and wait for unsuspecting buyers to load money onto the cards. Once activated, the scammers drain the funds. To stay safe, purchase gift cards kept behind the counter or directly from the retailer’s website. Avoid cards that are easily accessible on open racks.

Tips to Protect Yourself from Holiday Scams

  • Be Skeptical of Unsolicited Contact: Fraudsters often make contact out of the blue. If you receive an unexpected email, text, or call, don’t provide any personal details.
  • Never Give Out Login Credentials: Your username and password should never be shared. If someone asks for this information, it’s a red flag.
  • Avoid Clicking on Suspicious Links: Phishing scams often use fake links to trick you into revealing personal info. Always verify links before clicking or visit the website directly.
  • Beware of Payment Requests: Scammers frequently ask for payment via gift cards, cryptocurrency, money transfer, or payment apps. Remember, legitimate companies provide multiple ways to pay.
  • Verify Contact Information: If you’re unsure about a request, verify it through a confirmed contact number or website. This is the safest way to ensure you’re speaking to the right person.
  • For a safer gift card experience, buy cards kept behind the counter where staff can monitor them more closely. Save your receipt as proof of the loaded amount and purchase time. For even more security, consider sending an e-gift card, which is less vulnerable to tampering. Always purchase e-gift cards directly from the retailer’s official website rather than third-party sellers. This minimizes the risk of scams and ensures your gift reaches its intended recipient securely.
  • When shopping online or in-store, paying with a credit card offers added protection. If a transaction turns out to be fraudulent, you can dispute the charges and limit potential losses.

Stay Vigilant and Enjoy a Safe Holiday Season

The best defense against holiday scams is to stay cautious and informed. If you ever feel uncertain about a request for your personal information or funds, contact Velocity Community Credit Union directly. Your security is our priority, and we’re here to help you enjoy a safe and joyous holiday season.

For more information check out the FTC’s Holiday Scam Tips!

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