The Most Common Holiday Scams and How to Avoid Them
For most of us, the holidays are a time to think about giving and receiving gifts, spending time with loved ones, and enjoying the festivities of the season. But sadly, with the rise in shopping at this time of the year, the holidays also come with a rise in scams and crime that take advantage of people’s good nature.
Protecting yourself from common holiday scams starts with knowing to look for. We’re here to give you the details on what you should be aware of when it comes to these scams and give you a few identity theft prevention tips to keep your data and finances safe during the holiday season.
How Common are Holiday Scams?
The holiday season is one of the most profitable times of the year for fraudsters and scammers. According to the National Retail Federation, Americans are expected to spend around $980 billion during November and December 2024.
Criminals know this and take advantage wherever they can, with the FBI reporting that, in 2022, nearly $300 million was lost nationwide due to online shopping, non-delivery, and phishing scams during the holidays.
With more people doing their holiday shopping on the internet these days, scams are continuing to rise so it’s more important than ever to be vigilant. This is particularly the case when using digital payments, both online and in stores.
The Top Holiday Shopping Scams to Watch Out for This Season
1. Online Shopping Scams
While shopping around for deals at this time of the year is a great way to save on your holiday shopping budget, scammers know that everyone is looking for excellent prices on their purchases. Because of this, they’ll often create fake websites and social media scams to encourage you to purchase goods that you’ll never actually receive.
Gift card scams are all very popular over the holidays. This is where gift cards may be purchased in a store but not activated, or thieves will trick you into making gift card purchases online via social media or a fake website.
The goal of these online shopping scams is to gather credit card information from unsuspecting customers, along with other personal details that can give scammers access to your finances and other sensitive data.
Rather than clicking a link from an email that you’ve received unexpectedly, one of the best fraud prevention best practices to follow is to go to your web browser and search for the same deal on a search engine. This will help to determine whether this special offer is a scam or not.
Be sure to download the Vision Bank mobile app for access to Vision Bank Card Control features. This new tool promotes your online shopping safety by allowing you to turn your card off at your discretion or if compromised. You can also set spending limits, gain insights into every merchant transaction and keep in touch with two-way fraud alerts!
2. Charity Scams
Taking advantage of people’s good nature during the holidays is especially a problem when it comes to charitable giving. Around 30% of all donations happen during December, so scammers will often impersonate real organizations and solicit you to give through email or a website link.
If you’re unsure whether a nonprofit organization is genuine or not, Good Samaritans can verify their authenticity using CharityNavigator, or you can check local state or government authorities via the BBB Giving site. Always do your own research before donating and, if possible, choose organizations that you’re already familiar with.
3. Traveling Scams
The Bureau of Transportation estimates that around 15 billion trips are taken over the holiday season, with scammers looking to capitalize on the hectic nature of moving from place to place. Fake travel agencies with the promise of free vacation or discounted flights often appear on social media at this time of year, known as smishing scams.
To avoid possible holiday travel scams, it’s best to purchase airline and accommodations directly through the airline or hotel provider. Notable travel companies like Expedia and Booking.com are also safe to use. Call to verify any promotions that seem too good to be true before you hand over your payment information.
4. Mail Delivery ScamsYou may think once your packages arrive at your home, your money and purchases are safe. But unfortunately, that’s not the case. Physical package theft from doorsteps and purchases is on the rise, and in 2003, Oklahoma has the second highest rate of porch piracy of any state in the nation. Sign up for Informed Delivery by USPS to see photos of your mail before it arrives for free.
You may also want to look out for “missed package” delivery scams supposedly from a shipping provider like FedEx or UPS. Clicking on links in the texts that these scammers send, posing as these companies, could lead you to a fake website where your information is stolen.
To keep your details protected, always ignore texts like these and instead go to their websites via a browser and search for your package manually with a tracking number. The best porch pirate prevention method to keep your delivered goods safe is to always sign for packages if possible. Otherwise, installing a surveillance camera around your front door could help deter property theft.
If you’re going to be traveling for the holidays, consider having your mail held at the post office for you to collect upon your return. You could also ask a friend or trusted neighbor to collect your mail for you to avoid it piling up on your porch or in your mailbox.
Vision Bank Protects Your Financial FutureAt Vision Bank, we offer a number of digital security resources to help you keep your finances safe from scammers. Take a look at our blog, including our tips for best digital security practices. We offer information on how you can safeguard your personal information using our mobile app, along with guidelines for safe web browsing.
If you think your financial information may have been compromised, you can easily report stolen or lost cards, both to us and local law enforcement. You also can turn your card on/off through our Card Control features located in our online banking platform. We take proactive measures to protect our customers’ sensitive information, including timeout features for online banking and encryption technology. Learn more about how you can prevent scams and fraud, along with where you can report these crimes if needed.
Learn More Financial Security Tips with Vision BankIf you want to learn more about digital security or find out how our banking services can help you, contact Vision Bank today to open an account, apply for a loan, or login to your existing banking products online. Check out our blog for frequent updates and resources to help you manage and safeguard your money.