The holiday season is a time for celebration, joy, and generosity. Unfortunately, it's also a peak period for fraudsters looking to take advantage of the festive spirit. As you prepare to shop for gifts, book travel, or engage in online activities, it's crucial to be aware of common holiday fraud schemes and take steps to protect yourself. And although most of our work in the Risk Advisory Services department is B2B, we figured this article focused on the end consumer would be valuable to our readers.
- 1. Online Shopping Scams: The rise of online shopping has opened up new avenues for fraudsters to exploit unsuspecting consumers. To protect yourself, only shop on secure websites with "https://" in the URL (or look for the padlock icon in the left-hand side of the URL). Avoid clicking on suspicious links, and be wary of deals that seem too good to be true. Stick to well-known, reputable retailers and use secure payment methods, such as credit cards, which offer additional fraud protection.
- 2. Phishing Emails and Fake Websites: This one should come as no surprise, but unfortunately fraudsters continue to use this technique for one main reason; people keep falling for it. Fraudsters often send phishing emails or create fake websites that mimic legitimate retailers or holiday-themed promotions. Be cautious of unsolicited emails, especially those requesting personal information or urging immediate action. Use email filters and keep your antivirus software up to date to reduce the risk of falling victim to phishing attempts. And stay up to date on your company's security awareness training! (My CIO will like that shameless plug).
- 3. Travel Scams: Whether you're planning a winter getaway or visiting family during the holidays, be aware of travel-related scams. Only use reputable travel websites and avoid providing personal information over unsecured Wi-Fi networks (that means don't connect to the airport's free unsecured Wi-Fi). Double-check the legitimacy of travel deals and accommodations, and be wary of unsolicited emails or calls offering too-good-to-be-true discounts.
- 4. Gift Card Scams: Gift cards are a popular holiday gift, but fraudsters have found ways to exploit them. Avoid buying gift cards from unofficial sources or online auction sites, as these may be compromised or fraudulent. Scrutinize the packaging for signs of tampering, and if possible, register the card upon purchase to add an extra layer of protection.
- 5. Charity Scams: The holidays inspire generosity, but scammers may take advantage of this goodwill by posing as fake charities. Before donating, verify the legitimacy of the organization by checking their website or contacting them directly. Avoid making donations through unconventional payment methods and be cautious of high-pressure tactics.
As you navigate the holiday season, stay vigilant and adopt proactive measures to protect yourself from common fraud schemes. By practicing online hygiene, verifying sources, and trusting your instincts, you can safeguard your personal and financial information. Remember, the holiday season is about joy and celebration, and taking steps to prevent fraud ensures a safe and enjoyable experience for you and your loved ones.
