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.