Protect Yourself from Fraud this Holiday Season
Posted: November 5, 2024
As the holiday season kicks off with gatherings, shopping, and celebrations, add protecting yourself from fraud and scams to your list. At Labor Credit Union, we want to help you enjoy a worry-free season. Here are some ways to reduce your risk:
1. Monitor Your Accounts
Inspect your account statements closely each month. If you notice any unfamiliar charges, even small ones, report them to your financial institutions or credit card provider immediately. Fraud often starts with small “test” charges before escalating.
2. Sign Up for Fraud Alerts
Many credit cards offer real-time fraud alerts. Opt to receive notifications for every transaction if possible. Credit card providers also monitor for unusual activity, such as foreign or high-value purchases, alerting you to potential fraud before charges go through.
3. Beware of Phishing and Smishing Scams
Fraudsters often use emails or texts that look like they’re from banks, retailers, or the IRS to trick you into revealing personal information. Be cautious of messages with spelling errors, generic greetings, or unusual email domains. If a message claims there’s an issue with your account, don’t click on any links; instead, log in directly through your bank’s website.
4. Avoid Unsecured Websites
Avoid entering sensitive information over public Wi-Fi, and only use sites with URLs that begin with “https” for secure connections. Websites without this designation may leave you vulnerable to malware and data theft.
5. Watch for Online Shopping Scams
Scammers may create fake websites or online marketplaces that look real but are designed to steal payment information. Be wary of “too good to be true” deals or limited time offers. If you don’t receive the goods after making a payment, contact your card issuer.
6. Be Aware of Card Skimmers
Skimmers are devices fraudsters attach to card readers at ATMs and gas stations to steal card data. They’re often hard to spot, so always examine card readers for anything unusual before using them.
7. Regularly Check Your Credit Reports
Review your credit reports periodically for signs of new accounts or suspicious activity. Consider placing a credit freeze for extra protection.
Additional Security Measures:
- Update Passwords Regularly: Use unique passwords for each account and ensure they meet strong password criteria.
- Report Fraud Immediately: If you notice unauthorized activity, contact your financial institution or card issuer right away. You’re not liable for charges after reporting.
- Keep Contact Information Updated: Ensure your financial institution has your current phone number and email for timely communication.
Stay vigilant this holiday season and let us help keep you protected!