10 Ways to Protect Yourself from Holiday Fraud

The holiday season is a time of joy, giving, and celebration—but for scammers and fraudsters, it’s also an opportunity to exploit unsuspecting shoppers. According to experts, fraud attempts increase by 30% during the holidays. Whether you’re shopping online, donating to charities, or checking off your gift list in stores, it’s essential to stay vigilant to protect yourself from holiday fraud. Here are 10 practical tips to safeguard your finances and personal information.

1. Monitor Your Transaction History Regularly

Keep a close eye on your bank and credit card accounts during the holidays. With increased spending, unauthorized transactions can easily go unnoticed. Regular monitoring will help you quickly identify discrepancies and report suspicious activity to your bank or credit union.

2. Use Digital Wallets for Secure Transactions

Digital wallets like Apple Pay or Google Pay use advanced encryption to keep your payment details secure. Adding your debit and credit cards to a digital wallet provides an extra layer of protection, whether you’re shopping in-store or online.

3. Question the Legitimacy of Deals and Charities

Scammers often lure victims with deals that seem too good to be true or by posing as charities. Before making a purchase or donation, verify the legitimacy of the website or organization. Be cautious of third-party ads on social media, and always update your anti-virus software to guard against malware.

4. Verify Website Security

When shopping online, ensure the website is secure. Check that the URL begins with “https://,” which signifies the site is protected by an SSL certificate. This encryption ensures your payment information is transmitted securely.

5. Set Up Account Alerts

Take advantage of your bank’s or credit card issuer’s transaction alert features. These notifications can inform you of every purchase, helping you quickly spot unauthorized transactions. Customizable alerts—like those for transactions over $50—make it easy to manage your finances and maintain peace of mind.

6. Understand Your Credit Card’s Fraud Protection

Many credit cards offer “Zero Liability” protection, meaning you’re not held responsible for unauthorized transactions if you promptly report them. Familiarize yourself with your credit card’s fraud policies to know your rights in case of suspicious activity.

7. Safeguard Your PIN

When using your credit or debit card in public, shield the keypad as you enter your PIN. Avoid simple or easily guessed PINs like “1234” or your birth year. Be alert for ATM skimming devices, which can steal your card information. Learn to spot and avoid these devices to keep your account safe.

8. Beware of Delivery Scams

Delivery scams are common during the holidays. Fraudsters send fake texts or emails posing as delivery companies, including malicious links that either steal your personal information or infect your device with malware. Always track packages directly through the delivery company’s official website.

9. Avoid Using Gift Cards as Payment

Gift cards make great gifts but are also a favorite tool for scammers. Never use gift cards to pay for products, fines, or taxes. Scammers often pose as legitimate entities—like government agencies or employers—asking for gift card payments. When purchasing gift cards, check that the packaging hasn’t been tampered with and keep your receipt as proof of purchase.

10. Stay Wary of Impostor Scams

Fraudsters often pretend to be from financial institutions, contacting you via phone, email, or social media to request personal information. Legitimate institutions will never ask for sensitive details this way. If you’re contacted, don’t respond; instead, proactively reach out to your financial institution to verify the communication.

Stay Vigilant This Holiday Season

As you enjoy the holiday festivities, make fraud prevention a priority. By implementing these tips, you can reduce your risk of falling victim to scams and protect your hard-earned money. InterBank is here to help. If you notice any suspicious activity or have questions about securing your accounts, don’t hesitate to contact us. For additional resources and information on staying safe, visit our Fraud Information Center. Let’s make this season about joy, not worry!