ID Theft Prevention | blog.firstffcu.com

The holiday season is a delightful time of cheer, but it also brings an increased risk of identity theft and financial scams. Findings from Norton show that 34% of adults report taking larger risks in regard to online transactions during the holiday season. At First Financial, we’re dedicated to helping you navigate this bustling period safely. Here are some essential strategies to protect your finances and personal information while you enjoy the season’s festivities.

Embracing Safe Online Shopping Practices

As you embark on your holiday shopping, especially online – remember the importance of secure transactions. Prioritize shopping on trustworthy websites, signified by ‘https’ in their URL and a padlock icon. These symbols indicate a higher level of security, crucial for protecting your sensitive data. Additionally, avoid the pitfalls of public Wi-Fi when shopping; these networks can be hotspots for data theft. It’s also wise to stay alert to the risks of unsolicited emails and social media links. Instead of clicking on these, it’s safer to directly type the retailer’s address into your browser.

Monitoring Accounts and Understanding Financing

Keeping a close eye on your bank and credit card statements is essential this time of year. Regular monitoring helps you spot and report any unauthorized transactions quickly. Also, take the time to understand the terms of any financing or subscription services you sign up for. Being aware of the details can help you avoid unexpected charges and ensure that your holiday spending remains within budget.

In Store Shopping: A Blend of Caution and Awareness

When shopping in physical stores, your wallet and personal information need safeguarding. Keep your wallet and ID in secure, hard-to-reach spots to deter theft. Pay attention to the ATMs and payment terminals you use; look out for any signs of tampering – like skimming devices, which are a red flag. Additionally, ensure all your personal devices are secured with strong passwords and touch ID features, adding an extra layer of protection in case they are lost or stolen.

Gift Card Purchases: Vigilance is Key

Gift cards are popular during the holidays, but they require careful consideration. Before buying, inspect each card for signs of tampering and always keep the receipt. Be wary of online offers for free or discounted gift cards, as these can often be scams. When purchasing virtual gift cards, ensure the website and company are legitimate to avoid falling prey to fraud.

Being Informed: The First Step to Security

Doing your homework before diving into holiday shopping pays off. Researching products, comparing prices, and being aware of sales can save you not just money, but also protect you from scams. Be cautious about sharing personal information for coupons or discounts; such tactics are often used by scammers to gather data.

This holiday season, let’s embrace the joy and spirit of giving, armed with the knowledge and tools to protect our identity and finances. By staying informed and cautious, you can enjoy the season without the worry of falling victim to scams.

First Financial is here to support you in your financial journey, during the holidays and beyond. Subscribe to our blog, get in touch, or stop into any branch to learn more about safeguarding your finances. Let’s make this a joyful and secure holiday season!

There are a number of unscrupulous types out there, waiting to take your hard earned money. One of the most common ways criminals try and scam you is to “phish” for your information. In these types of scams, you are asked to reveal personal financial information. This information can then be used to commit identity fraud — and can cost you in time and money.

Here are some phishing scams to be aware of:

You made a purchase. It usually involves an email message that claims to be sending you a receipt for a purchase at a major retailer. If you didn’t make that purchase, don’t open the PDF attachment! Even if you did, do not call the number in the document to make a dispute. Instead, look at your card statement independently to verify whether there was a purchase or not. For example, Apple is a common retailer used in this type of scam and if you look closely, the email message doesn’t come from Apple.com.

Lower your credit card interest rate. Who doesn’t want a lower interest rate on their credit cards? This phishing scam involves a phone call, and a recorded message telling you that you qualify for a lower rate. You then press a number, and you are prompted to enter your credit card number. Hopefully you can see where this is going in terms of identity fraud …

Unlock your bank account. Some people have received phone calls claiming that their bank accounts are locked. If you receive a call like this, you might even be told that there has been some “suspicious activity on your account.” It sounds like your bank has locked down your account on your behalf. All you need to do to unlock your account is give them your account number. And, unlike a credit card with its fraud protections, there isn’t much you can do if someone decides to drain your bank account. The moral of this story: your actual bank already knows your account number, you will never need to give it to them.

Hotel computer crash. According to Consumer Reports, the Better Business Bureau is reporting on an interesting scam that has cropped up. You receive a call on your hotel phone. The person on the other end claims to be from the front desk. The computer system has crashed, and all the data is gone — including your credit card data. All you have to do is give the information over the phone, and everything will be straightened out. This is a complete scam, and now the scammer has your credit card information to start using.

It is important not to give out personal financial information out unless you can verify the source. Additionally, don’t give out information over the phone when some calls asking for it. Always realize that your bank and credit card issuers won’t ask for your full account number; they already have it! Anyone who asks for your full account number for “security” or “verification” is probably almost always a scammer.

Bottom Line: Be on guard for phishing scams, whether they are perpetrated via email or over the phone. Keep your personal financial information private, and remember to verify information coming from others independently.

Article Source: Miranda Marquit for Moneyning.com