Produced by Ann Davidson, VP of Risk Consulting at Allied Solutions
As the holidays approach, credit union employees and members must become increasingly aware of scams and identity theft and other forms of fraud. Combating fraud is easy when the credit union and member are fully aware of the types of scams and how to avoid them.
Education is a key measure to share before the holiday shopping madness is about to begin. Scammers are ready and waiting to exploit chaos and take advantage to ruin your holiday. If it sounds too good to be true, it probably is.
The following is a list of scams to put on your list to watch out for this holiday season.
- Card scam - Watch transaction activity daily on your credit and debit cards to confirm no one else is using them.
- Fake charity scam - Check them out before contributing.
- Fake retailer apps when shopping online - Secure sites have https.
- Online shopping scam - Secure sites have https.
- Email cheap deal scam - Don't click the links in the body of the email.
- Home delivery scam - Never call back or give out personal or financial information.
- Empty gift card scam – purchase from reliable source.
- Fake flights and accommodation scam - Check it out before you purchase.
- Time share scam - Research before committing to it.
- Phishing scam - Watch for email, text message and phone calls asking for personal or financial information or for you to participate in a winning.
- Fake tech support scam - If you didn't call them, hang up.
- Skimming scam - Examine ATMs before swiping your card. If it's a chip card, use the chip if the device is chip enabled.
- Coupon scam - Don't respond if they request personal or financial information.
- Holiday job scam - Be alert to fake job postings or work at home scams.
- Fake check scam - Never send funds back on any overpayment check.
- E-card scam - Take extra caution before clicking on an e-card/invite.
- Identity theft - Keep an eye on your identifiable information.
- Social engineering scam - Be alert to individuals asking for information and be careful what you post on social media sites.
- Social media scam - Don't respond to these advertisements.
- Free item scam - Don't respond.
- Malware scam - Confirm home computers and mobile devices are secure.
- Depleting financial account scam - Monitor financial accounts daily to identify if anyone has tampered with your funds or information.
This is the time of the year to keep a close eye on your financial statements and to stay alert to anything that seems suspicious or abnormal. Cyber crooks are waiting to find a weak link. Let's all work together to help avoid holiday scams and have a safe and enjoyable holiday season.