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The Naughty List: How to Avoid Holiday Fraudsters
The holidays are a time of joy, family, and relaxation, but they can also bring added stress. Whether you’re feeling the financial strain of gift-giving, dealing with travel hassles, or racing to check off your to-do list before taking a break, the holiday season can make you vulnerable to identity theft and scams.
Scammers are always on the lookout, and the festive season provides them with ample opportunities to exploit the sense of urgency that often accompanies shopping at this time of year.
While the risks are real, there are steps you can take to safeguard yourself from falling prey to a scam or having your personal information compromised.
Practice caution while online shopping
Shopping online can be convenient, but it’s crucial to be cautious. Online scams are not only the most common but also the most likely to lead to financial loss for their victims:
1. Beware of online marketplaces: Exercise extra caution or avoid shopping on sites like Facebook Marketplace, Craigslist, NextDoor, and other online marketplaces. When buying directly from an individual and paying in cash, you won’t have the same purchase protections as when buying from a reputable retailer or using a credit card.
2. Use traceable payment methods: Avoid paying using gift cards, cryptocurrency, or wire transfers. Instead, opt for traceable payment methods like PayPal or Venmo, which offer purchase protections.
3. Look out for “too good to be true” deals: Be wary of highly in-demand products at surprisingly low prices. Scammers often create websites with realistic listings of scarce in-demand products, such as gaming consoles, only to vanish after receiving your payment.
Safeguarding your passwords
In addition to being cautious while shopping online, it’s essential to safeguard your passwords and accounts:
1. Use a unique password for all your accounts: Consider using a password manager to easily set up unique and hard-to-guess passwords, especially for your financial accounts.
2. Turn on multifactor authentication: Wherever possible, enable multifactor authentication to add an extra layer of security to your accounts, particularly your financial ones.
Watch for card-skimming devices
When shopping in stores, be vigilant and check for card-skimming devices that may be attached to ATMs or card readers. Card skimming fraud is prevalent and can cost financial institutions and consumers over $1 billion each year.
It’s better to give, then receive, but…
Always verify requests for donations, particularly during the holiday season. Scammers may take advantage of people’s generosity, so it’s essential to ensure that your donations are going to legitimate charitable organizations.
By staying informed and following these tips, you can help protect yourself from identity theft and fraud, ensuring a safe and enjoyable shopping experience, especially during the holiday season.
Want to know more? Read additional Mid Oregon blog articles about online security and fraud protection.
As a reminder, Mid Oregon will never initiate a call asking for personal or account information via phone, text, or email.
October is Financial Planning Month: Time to Tune-Up Your Finances!
As we dive into the holiday season, Financial Planning Month gives us the perfect chance to take a closer look at our spending habits, reassess our financial goals, and fine-tune our budgets.
This month isn’t just about crunching numbers—it’s about emphasizing the significance of having a solid financial plan and prioritizing financial habits like budgeting, saving, investing, and planning for retirement.
By honing in on these areas, we can gain better control over our finances, brace ourselves for unforeseen expenses, and make strides towards long-term financial security.
Review Your Finances
Utilize this month as an opportunity to review and revitalize your financial plan. Assess your current budget, savings, and investments to identify areas for improvement. Perhaps there’s a subscription you can cancel or a better way to invest your money. Online tools or apps can simplify the process and help you stay on track.
Make sure to take advantage of Mid Oregon’s Financial Wellness widget in Digital Banking, which efficiently categorizes your spending into various categories over time.
Set a savings challenge
Challenge yourself and others to a savings competition. Consider something enjoyable that you would love to save for—a dream vacation, the latest gadget, or a special night out— and set aside a certain amount by the end of October. Monitor your progress weekly and share updates with friends or family. The friendly competition can keep everyone motivated to achieve their goals, and the winner earns bragging rights!
To make it even easier, log into Digital Banking and use the Savings Goals tool to set a goal and track your progress.
get a free financial checkup
Mid Oregon members receive free access to a powerful resource for getting a handle on their finances. Financial Checkup takes you through an anonymous, 15-minute questionnaire to organize your information on income, debt, and expenses. Simply answer a few questions and in just minutes, you will receive a thorough analysis of your financial situation. Additionally you will receive tips by leading financial experts to help manage your debt and build a budget.
Know you most important score
Improving your credit score is another crucial aspect of financial wellness, and Mid Oregon can help you navigate this process. Many of us don’t keep track of our credit scores, but having a good score influences the type of financial options available to you—including interest rates on loans.
Mid Oregon has a free, secure option that can help you take charge of your credit. My Credit Score on our Digital Banking platform can help you improve your score, and monitor for potential fraud. When you enroll, you receive anytime, anywhere access to your credit score. Plus, you’ll receive simple, straightforward tips that you can use to improve your score.
Invest in your education
Take the time this month to learn something new about personal finance. Whether through books, podcasts, or videos, expanding your knowledge on topics like investing, retirement savings, or debt management can have a significant impact. Enhancing your financial literacy is an investment in your future.
Mid Oregon holds free, in-person financial workshops on topics such as retirement, estate planning, social security, investments and more. We also have past workshops you can view on our YouTube channel. Additionally, our Financial Tips section on our homepage has a variety of articles on budgets, saving money, fraud prevention, and more.
Ultimately, Financial Planning Month is about empowering you to take control of your financial future and make decisions that foster stability and growth. Your Mid Oregon team is here to help you every step of the way—please stop by, call, or visit us online at midoregon.com. We also encourage you to stay tuned to future member newsletters, blogs, and workshops for more financial fitness topics.
Common Signs Of Phishing
Common Signs Of Phishing To Keep In Mind When Your Inbox Overflows
With email phishing, deciphering what’s real from what’s fake can be a challenge. Our inboxes are stuffed with emails fighting to get our attention and get us to take some action. But how to ferret-out what’s legitimate takes some cyber-smarts. Research shows email is the primary method of spreading 92% of all malware, and the U.S. is the target of 86% of all email phishing attacks. Whether at home or at work, email phishing is relentless, but being aware of characteristics they have in common can be a powerful tool. The ability to spot those common signs of phishing before it’s too late can be the difference between a good day and a bad nightmare.
Make no mistake, phishing targets credentials like passwords, account numbers, and payment methods. Phishers even have seasonal campaigns throughout the year that take advantage of times like holidays and tax season. Nothing is off limits for dedicated cyberthieves and the levels they stoop to have no bottom. A look at their favorite “go to” exploits is a great way to sharpen your phishing cyber-smarts.
It’s important to remember, phishing emails often have two traits in common:
Trusting the sender
Phishers disguise themselves as legitimate senders like Microsoft and Dropbox, or someone you work with or a friend you know or trust. The idea is to gain your confidence, especially for those who have work related contacts or use every day trusted businesses like Amazon and FedEx.
Urgency or immediate action required
The subject lines and messages are designed to be compelling and require some type of action from the recipient. Lines like “Your account needs verification” and “Your delivery requires further action” are common signs of phishing. They can also target your personal interests to tug on your heart strings with information easily found on social media.
Knowing if an email is for real can be as simple as going directly to the source for verification. Never follow URL links or use phone numbers in an email because likely a phisher is on the receiving end. Type the real URL yourself or use a previously trusted bookmark and check your account. Once there, you’ll be able to see if further action is truly needed.
Since phishing remains one of the most effective tools in a hacker’s arsenal, they are continually tweaking and improving their tactics to be more potent. When you see that overflowing inbox, remember that with email phishing “know first and act last.” Know for sure the sender is legitimate and don’t act until you’re absolutely sure it’s necessary. Get to know the common signs of phishing.
Read other blog articles from Stickley on Security