The holiday season is here, and with it comes a surge in online shopping. While this time of year brings exciting deals and the joy of gift-giving, it also brings an increased risk of scams, fraud, and theft. Cybercriminals are known to target holiday shoppers, taking advantage of busy online shoppers and offering fake deals that seem too good to be true.
We’re committed to helping you stay safe while shopping online this holiday season! To help protect your personal and financial information, here are some essential fraud prevention tips to keep in mind:
- Stay Informed About the Latest Holiday Scams
Cybercriminals often change their tactics during the holiday season, so it’s essential to stay informed. Common holiday scams include fake online stores, phishing emails, and fake shipping notifications. Criminals may also create social media ads that promise “too good to be true” discounts or holiday deals.
Before you shop, take a moment to read up on the latest holiday scams. Look out for warning signs such as:
- Unsolicited emails or messages offering irresistible sales
- Websites that don’t have secure payment options
- Deals that are significantly lower than what other retailers are offering
- Keep Your Devices Updated
One of the easiest and most effective ways to protect yourself is by ensuring your devices—whether it’s your computer, smartphone, or tablet—are running the latest software updates. Updates often include important security patches that help protect your personal information from cybercriminals. Set your devices to automatically install updates or check for them regularly.
- Verify the Website’s Legitimacy
Before making a purchase, always verify that the website you’re shopping on is legitimate. Look for “https” at the beginning of the website URL in your browser’s address bar. The “s” stands for secure and indicates that the site uses encryption to protect your personal information during transactions.
- Use Strong, Unique Passwords
It’s tempting to use the same password for multiple accounts, but doing so puts you at risk. If one of your accounts is compromised, cybercriminals could access others as well. Use strong, unique passwords for every retailer account, especially if you store your payment information on their site. A strong password typically includes a combination of upper and lower case letters, numbers, and special characters.
- Enable Two-Factor Authentication
To add an extra layer of protection to your online shopping accounts, consider enabling two-factor authentication (2FA). This means that in addition to entering your password, you’ll also be asked to verify your identity through another method, such as a text message or an authentication app, as an added layer of security.
- Use Secure Payment Methods
When checking out online, use secure payment methods such as credit cards, mobile wallets, or trusted payment services like PayPal. Never send cash or wire money to unfamiliar sellers or people you don’t trust. Secure payment methods can help ensure you don’t fall victim to scams.
- Monitor Your Bank and Credit Card Statements
Throughout the season and as your holiday shopping ends, it’s important to regularly check your bank and credit card statements for any unauthorized transactions. Fraudulent charges may not always show up immediately.
The holidays should be a time of joy and celebration, not stress and worry over online security. By staying informed, protecting your devices, using secure payment methods, and remaining vigilant, you can enjoy a safe and scam-free online shopping experience.
At Mechanics Cooperative Bank, we’re here to support you and ensure your financial security. If you have any concerns about your accounts or need assistance, don’t hesitate to contact us.
Mechanics Cooperative Bank is Member FDIC. Member DIF. Equal Housing Lender.
