Get Smart About Scams – Holiday Safety Edition
Intro
Holiday shopping begins earlier and earlier every year. Between decking the halls and getting gifts to go under the Christmas tree, there’s a lot of spending going on! Increasingly, most of that spending is happening online instead of face-to-face. It’s important during every holiday season to stay aware of all the typical scam types that fraudsters use to take advantage of the giving spirit.
Charity Scams
The first type of scam to keep your eye out for is charity scams. Unfortunately, this type of scam is a very real thing, with fraudsters taking advantage of people’s generosity.
How can you identify a charity scam? A telltale sign is the charity asks for a strange form of payment such as gift cards or cryptocurrency. They may also create urgency, saying that you made a pledge when you did not, or come up with an excuse as to why they need the funds immediately.
One way to easily avoid a charity scam is to cease communication and look up the charity. Pay close attention to the spelling and check for typos, which would be a telling indication something isn’t right. There are websites, such as CharityWatch, that track and grade charities based on how their money is used. If the charity you’re in contact with doesn’t even exist there, that’s a major red flag that they aren’t who they seem to be.
Card Cracking Scams
Beyond charity scams, another type of fraud we see a lot of during the holidays is called “card cracking.” This is when a scammer tricks a person into sharing their card or banking information, typically in exchange for “easy money.”
In many cases, this type of fraud begins with a social media message or ad promising quick cash. They count on people wanting to make some extra money during this holiday season to lure them in. In the process, they take the victim’s bank account information to deposit a fake or stolen check. In the meantime, the scammer drains the victim’s account, and when the check later bounces, the victim is left with a negative account balance.
You can avoid falling for a card cracking scam by never sharing your account information with anyone you don’t know well. This includes your debit card number, PIN and Online Banking credentials.
General Safety Tips
Finally, here are some other general tips you can follow to prevent common holiday season issues like stolen packages and fraudulent charges.
- Keep an eye on your transactions and immediately dispute and lock your cards if you find anything you didn’t authorize.
- Track your packages as you place orders and arrange for the packages to be delivered when you can be home. Some delivery services allow you to schedule delivery to a safe place where the risk of your package being stolen is minimal.
- When you receive the notification that a package was delivered on your porch, retrieve it as soon as possible. Porch pirates can be tenacious and constantly on the lookout for stray packages.
- Outro
At Educators Credit Union, we’re committed to ensuring the safety of our members’ accounts. If you suspect you may have fallen victim to fraud, we are here to assist our members every step of the way. Please give us a call at 262.886.5900. Take care and stay safe. Insured by NCUA. Membership eligibility required.