Fraud Awareness Resources

The holidays are a time for joy, but unfortunately, they’re also prime time for fraudsters. Fraud attempts are on the rise in 2024, and cybercriminals are getting more sophisticated in their methods. Staying informed and vigilant is the best way to protect yourself and your finances during the holiday shopping season.

Common Fraud Tactics to Watch Out For

1. Vishing (Voice Phishing) and Smishing (SMS Phishing):

   • Fraudsters pose as trusted organizations, like your bank, through phone calls or text messages.

   • They build trust and attempt to coerce victims into sharing personal or financial information.

   • Criminals may use techniques like Caller ID spoofing or VoIP to make their calls appear legitimate.

2. AI Voice Scams:

   • Criminals mimic voices of family members to create fear and urgency, often requesting money or sensitive information.

3. Skimming:

   • Devices placed on card readers steal information during swipe transactions.

   • Skimmers are often hidden at gas stations or ATMs.

4. Spoofed Websites and Emails:

   • Fraudsters create fake sites or send messages that mimic legitimate businesses, tricking users into entering card details.

Tips to Stay Safe

• Verify Contacts:

  • If you receive a suspicious call or text, hang up and call the organization directly using a verified number from their official website.

  • Avoid clicking on links from unknown texts or emails.

• Be Skeptical of “Too Good to Be True” Deals:

  • Check company websites or call customer service to confirm the validity of promotional offers.

• Shop Smart Online:

  • Only use reputable websites.

  • Ensure the site’s URL starts with “https” and shows a padlock icon.

  • Use secure networks or a VPN for transactions.

• Guard Personal Information:

  • Avoid oversharing on social media, as personal details can be used to guess security questions.

  • Use strong, unique passwords for each account.

• Monitor Your Accounts:

  • Regularly review your bank statements and credit reports.

  • Consider using a credit monitoring service to detect unusual activity.

Red Flags for Fraud Attempts

• Unsolicited Urgency:

  • Fraudsters often create a sense of fear or anxiety to push victims into quick decisions.

• Requests for One-Time Passcodes:

  • Never share OTPs unless you initiated the transaction.

• Requests for Payment in Gift Cards or Cryptocurrency:

  • Legitimate organizations will not ask for these payment methods.

Additional Precautions

• Watch for Skimmers:

  • Use chip or contactless payment methods whenever possible. If a machine forces you to swipe, it may have a skimmer attached.

• Secure Your Mail:

  • During the holidays, monitor your mailbox and shred sensitive documents, including junk mail like pre-approved credit offers.

• Update Your Contact Information:

  • Ensure your bank has your latest phone number and email address to receive fraud alerts promptly.

Resources to Help You

For added security, consider freezing your credit or checking your credit reports at the major bureaus:

• Equifax

• Experian

• TransUnion

By staying vigilant and following these best practices, you can enjoy a safe and stress-free holiday season. If you suspect fraud or need assistance, don’t hesitate to contact us. Let’s work together to protect your financial well-being.