fraud protection

Protecting Yourself From Fraud This Holiday Season

The 2020 holiday season will most certainly look very different as we try to balance celebrating and keeping our loved ones and ourselves “COVID” safe. Sadly, this unprecedented change will not deter the exploitation of our holiday habits by cybercrooks. In fact, the tremendous increase in Internet shopping this holiday season, due to the pandemic, is expected to ramp up online schemes and scams.

According to CreditCards.com, 71 percent of consumers plan to do a majority of their shopping online this holiday season, greatly due to the COVID-19 pandemic. Consequently, as the retailers roll out all their seasonal deals, it sets a fertile ground for scammers to lure in bargain hunters with fake websites and social media campaigns impersonating major brands and online outlets. These bogus sites will entice consumers to spend money for goods or services they will never receive. Some of the more recent enticements include charity scams, delivery scams, travel scams and letter from Santa Claus scams.

This season’s increased distractions and transactions, unfortunately, also increase the likelihood that your personal information will be hacked, often resulting in account takeovers, fraudulent activity and wide-ranging identity theft. Although we can’t eliminate this threat, here are several tips to help reduce your chance of becoming another holiday season, cybercrime statistic.

  • Use Apple Pay (used with an Apple device) or Google Pay (used with an Android device) or another digital wallet instead of your debit or credit card for contactless purchases in stores, apps, and on the web. Digital wallets use an encryption system, replacing your card information with a one-time digital “token” for your transaction.

  • Use a credit card for your holiday purchases. Disputing charges with a credit card is less of a hassle than with a debit card.

  • Use a virtual private network (VPN). This allows you to create a secure connection to another network over the Internet, providing online privacy and anonymity when using a public Wi-Fi connection.

  • Don’t shop or conduct any financial transactions or activities on a public Wi-Fi. Even with a VPN, it’s a good year-round practice to avoid public online transactions that could pose a threat to the security of your personal information.

  • Don’t store your debit or credit card information online. Cybercriminals will have less access to your key information in the event of a data breach.

  • Be cautious at points of sale. Skimming devices can be attached to card readers to capture your credit or debit card information.

  • Be cautious of social media ads. If the offer seems too good to be true, most likely it is. Before making a purchase, do some research on the company, including their return and refund policies, and look at the Google reviews. Drag your cursor over social media ads to display the true URL destination.

  • Beware of email phishing and social engineering scams. If an email looks suspicious or is sent from an unfamiliar address, or someone calls you seeking personal information because one of your accounts has supposedly been hacked, always go directly to the company’s website and call the support number listed.

  • Activate card security features. Set up text alerts and notifications for your card transactions. Turn your cards off when they are not in use. Use virtual cards (temporary virtual credit card numbers that stand in for your regular credit card credentials) for secure online shopping.

  • Monitor your credit and identity. Experian’s free, credit monitoring gives you access to your regularly updated credit score and report, and will alert you if there are any changes to your credit.

Although the holiday season offers more scheming opportunities for cybercrooks, being mindful of your online security is a good habit all year long. Following these safe holiday shopping tips throughout the year will go a long way toward preventing identity theft.

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