By: Glynis D. Smith
December is full of many holiday festivities, but did you know it’s also ID Theft and Protection Awareness Month? As we juggle busier schedules and longer to-do lists, scammers are looking for ways to take advantage of distracted shoppers.
Holiday scams come in various shapes and sizes: relentless phone calls, increased text messages, unusual emails and more. This year, many of us are shopping online because of the pandemic, opening the door for heightened cybersecurity risks.
The holidays are for celebrating and making lasting memories with loved ones, and we’re here to help make sure no one steals that—or anything else—from you. See below for our tips and tricks for staying protected this busy and jolly season.
Use secure payment methods for online purchases
Online shopping is undoubtedly quick and convenient, but it also expands cybersecurity risks. While shopping with a pin-protected debit card is somewhat secure, your debit card is directly connected to your checking account. It’s safer to consider using alternative payment methods, such as virtual wallets, so your card information is not shared when making purchases.
Retailer apps are another great tool you can use to shop safely. If you frequently shop from the same store, purchasing directly from their app allows you to make more secure transactions. You avoid using third parties processing systems and repeatedly entering your card information.
Know where your money is going
Another common way scammers take advantage of shoppers is by using sites almost indistinguishable from reputable ones to obtain credit or debit card information. It’s essential to slow down and pay close attention to store logos on the website and URLs to ensure you purchase from legitimate sources. If the store logo looks abnormal or the website is missing a logo altogether, the site is likely fraudulent.
The same is true when using platforms like Venmo, Cash App and PayPal. You should always verify the identity of your recipient before making a payment. Ideally, you should only use these platforms to transfer funds to personal contacts.
Regularly check your statements
Scammers love to prey on the fact that we sometimes forget to check our bank statements because we are so busy during the holidays. Consistently monitoring these statements will detect fraud sooner—and sooner is always better than later when it comes to protecting your money.
Signing up for text* and email alerts can help you stay informed about when and if your card is used. First Farmers has several tools in place to help you stop fraud in its tracks. With our Card Suite Lite mobile app, you can create alerts tailored to your unique spending patterns to notify you of any suspicious purchases instantly.
If you notice any unusual account activity or believe you may have fallen victim to a scam, you should contact your bank immediately. Additionally, you should call the Credit Bureau and the Federal Trade Commission to report the fraudulent transactions.
By staying mindful of these tips and purchasing with caution, you are sure to have a holiday season that is merry and bright.
*Text message and data rates may apply.
