Financial knowledge at your fingertips
As we’re planning our holiday shopping around the numerous sales popping up in the coming weeks, criminals and fraudsters are making their own plans to exploit our vulnerabilities. Between the influx of shoppers and the high-pressure retail operations working to accommodate traffic both in-store and online, the holiday season is a great time to refresh your security practices and keep scammers from obtaining your information, accessing your money, or attacking your systems.
With the rise of online shopping, we’ve grown accustomed to the ease, convenience, and speed of having items next-day delivered right to our doors. Americans have come to do most of their shopping online. Especially around the holidays when you may need to send gifts to a relative in another state, want to catch the best sales, or simply have abundant people to shop for, the ease of online shopping tends to be the most alluring. With all of the benefits of shopping online, it can be hard to remember the risks. Use the tips below to keep your devices secure while you’re making your lists and checking them twice!
Getting some shopping done at the airport or in a hotel? We get it, the end of the year and the holiday season can be chaotic. But, public networks can leave you vulnerable to hackers by allowing them to access your devices. If you do need to rely on public wi-fi connections, be sure to use a virtual private network, or VPN. A VPN protects your online privacy by encrypting your data and masking your IP addresses, hiding personal information like your identity, location, activity, etc.
Tip: Keep your Bluetooth capabilities disabled when you’re not using it to eliminate another common entry point for scammers to access your device.
One of the most common scams this time of year is the no-delivery scam. Using this tactic, fraudsters will create fake retail websites, often promoting high-demand items like clothes, game consoles, etc. in efforts to get you to enter your payment details. Similarly, these scammers may set up fake listings on reputable sites like Facebook Marketplace. The transaction goes through, but the items are never delivered. For this reason, you should only buy from sellers that you trust. Keep your eyes peeled for warning signs of fraud like spelling and grammar errors, suspicious links, new profiles, etc. Be weary of sellers asking you to complete your transaction through a wire transfer, gift card, or other non-traditional means. And, be sure to check verified reviews to see what others are saying and check if any reviews include pictures so you can be sure you’re actually getting what you order.
Tip: Keep these red flags in mind when browsing your email, too - phishing scams are rampant during the holiday season. Remember, NEVER click suspicious links or open attachments from senders you don’t recognize. ALWAYS verify any request for information by contacting the company directly.
While having your information stored may seem convenient, it can actually leave you vulnerable if your accounts are ever compromised. If a hacker were to gain access to your accounts, they would then have access to an abundance of personal information. Worse yet, if they somehow get a hold of your device, with all your passwords saved, they could drain your accounts or commit fraud using your name. Learn more about keeping your defenses up against identity theft.
Strong passwords are crucial to keeping your accounts secure, but to make your password stronger, you often need to make it long and somewhat chaotic, incorporating capital letters, numbers, and characters. Keeping track of all your strong passwords, without storing them on the sites you use, can be difficult. Password managers alleviate this stress by securely storing and encrypting your credentials. To access your passwords, you’ll often need to enter a master key, whether that’s your phone password or some other unique PIN, adding an extra layer of security before a fraudster can access your information. Additionally, you should set up multi-factor authentication (MFA) wherever possible. MFA also adds extra security by requiring more than one form of verification to access your accounts. Typically, you’ll enter your username and password before being prompted to complete an additional verification step like entering a secure code sent to your phone or email. MFA can keep hackers from accessing your accounts even if your password has been compromised.
Monitor your account activity and review your statements to make sure there aren’t any suspicious or unauthorized transactions. If you do see anything suspicious, be sure to alert your financial institution immediately to minimize any losses.
Prioritizing buying local? Catching Black Friday deals at the mall? Keeping yourself secure in-store is just as important as online.
Even when you make purchases from online marketplaces, you may have to meet the seller in-person. Be sure to choose a meeting spot that allows you to feel safe - consider a busy parking lot or other public space with regular traffic. Don’t go it alone. There’s safety in numbers, so feel free to bring a friend with you to make sure you’re safe. Even if you don’t decide to bring a pal, you should always let someone know what you’re doing and where you’ll be. Be mindful with what details you share either in the marketplace or with the seller directly. Finally, don’t feel pressure to make the deal if it isn’t what you were expecting. It’s commonplace to make a deal online, inspect the product in person, and decide it isn’t what you were looking for. Remember, it’s your money and, ultimately, your decision.
Be mindful of where you keep (or leave!) your wallet, purse, loose funds, or cards. And, make sure you can always keep an eye on your items. If you’re carrying a wallet, keep it in your front pockets as back pockets are often a target for thieves. Purses with shoulder straps and zipper pockets are best to eliminate risks of someone pulling it off you or easily accessing the contents. Avoid carrying cash when you can, and try to bring only one card with you. The holidays are prime time for retail data breaches, so to be safe, you can minimize the impact to only one card. Keep your money or cards tucked away until it’s time to use them, and take your time putting it away safely before leaving the counter. There’s no need to feel pressure to get out of the way for the next person - you’ll only be a few more seconds.
Be aware of your surroundings at all times. Try not to be distracted by merchandise or your phone while walking around the store or mall. Consider putting more luxurious purchases in bags from your less expensive buys to deter criminals that might target high-dollar items. Once the shopping is done, don’t let your guard down in the parking lot or in your car. Be sure to keep items left in the car out of view so you don’t attract thieves. Lock your car as soon as you get into it. Finally, always trust your gut - if you have a bad feeling about a person or a situation, leave.
