Beware of Grinches: Spot Holiday Scams

The busy shopping season is just ahead of us — Black Friday, Small Business Saturday, and Cyber Monday, just to name a few big shopping days, but did you know we're not alone in feeling the buzz of the upcoming season? Scammers are on high alert, too, ready to exploit unassuming shoppers. Help keep your personal information and finances safe throughout the season (and beyond) by brushing up on how to spot common holiday scams and fraud.

Stay Vigilant Against Phishing Emails, Calls, and Texts

Cybercriminals ramp up their attempts to catch victims while they're caught up in the flurry of the holiday season. Oftentimes, they'll send deceiving emails or texts that contain suspicious links, attempting to gain your personal and financial information. They could look like they're coming from trusted retailers, delivery services, charities, or even your financial institution or credit card company.
Takeaway: Beware of emails, texts, and calls from scammers. Look for common red flags like a sense of urgency or misspellings. When in doubt, do not click on any links and call the company directly.

Be Aware of "Look-Alike" and Fake Online Stores

Online shopping has made it easy for consumers during the holiday season, but it has also made it a prime target for scammers. Be on the lookout for online stores that mimic other popular stores or are entirely fake. With the surge in social media shopping (Instagram and TikTok shops), fraudsters have begun to create fake social media pages with shops offering deals on popular products that typically go viral on the platforms. Always keep in mind, if the deal seems too good to be true — it most likely is.
Takeaway: Stay diligent in researching online shops. Read reviews, check for security credentials on websites, and research unfamiliar shops. This is so important that we needed to mention it again...if a deal seems too good to be true — it most likely is!

Be Wary of Package Delivery Scams

With the rise of online shopping came the rise of deliveries, making another easy target for fraudsters to try to capitalize on the busy season. In 2023, USPS reported nearly 8 billion deliveries during the holiday season, making package delivery scams a favorite amongst fraudsters. Missing Package scams are on the rise, where fraudsters leave a note saying your package couldn't be delivered and to contact them and hand over personal information, later used to commit fraud. Another common scam includes cybercriminals sending out texts or emails to unsuspecting victims, asking them to click on a link for a plethora of reasons: claiming to have an important update about delivery, package tracking, payments, providing delivery instructions, etc. Look out for common red flags such as a sense of urgency, misspellings or grammatical errors, and hover over any links before clicking to verify the link destination. When in doubt, go directly to the company's website to log in to track information, or contact their customer service team.
Takeaway: Beware of scams involving package delivery, including emails and texts containing links. As always, stay vigilant in knowing common identifiers and red flags.

Watch Out for Fraudulent Charities and Fundraisers

'Tis the season of giving after all! Scammers set up fake charities, fundraisers like GoFundMe, and other causes to capitalize on consumers' generosity during the holiday season. These scams can be a bit harder to spot, so our best advice is before donating, do extra research on the charity through the Better Business Bureau, and take extra care in checking for common indicators of fraud like spelling and grammatical errors and websites that do not provide any contact information.
Takeaway: Do due diligence before donating to charities and fundraisers you are unfamiliar with. We recommend donating to charities and fundraisers that you are personally familiar with.

Spot Fraudulent Season Job Ads

With the holiday season comes holiday job opportunities—another area to stay vigilant in to keep your finances and personal information safe. Keep an eye on fake job ads, which typically offer a high salary for little work in return and sometimes require buy-in (for equipment/training). Money Mule Schemes also fall into this area, where an employer requires you to cash a check through your financial institution and send money back after keeping a portion for yourself.
Takeaway: Be on the lookout for fraudulent seasonal job advertisements. Do not provide personal identifying information like your social security number, address, date of birth, or bank account information before confirming the job and company are legitimate. 

Keep Safe this Holiday Season

Fraud can happen to anyone at anytime, but the Holiday Season brings an expected spike. Being wary and researching isn't the only way to stave off holiday fraud! Keep a close eye on your accounts, especially during the spending frenzy, as it's easy for unauthorized charges to go unchecked during the busy season. Set up account alerts like fraud and transactions to be notified every time your card is used, helping you quickly identify fraud. CWCU members can also take advantage of IDProtect®, a personal identity theft monitoring and resolution service. If you believe you've been targeted by fraud, it's important to act quickly. Contact your financial institution, report the scam through the BBB, and if applicable, report to your local authorities and/or the Federal Trade Commission (FTC).