The holidays are known as a time for giving, but unfortunately, scammers see it as a time for taking. With more people shopping online, sending money to loved ones, and donating to charities, fraudsters may take advantage of people’s generosity and catch you when you’re distracted.
If you use card management options or Zelle®, here’s how you can protect your finances and your festive spirit.
Holiday scams to watch out for
Zelle scams in disguise
Zelle, a fast and convenient way to send holiday cash, can be an easy target for scammers if you don’t know what to watch for.
- Fake charity appeals: Fraudsters pose as nonprofits asking for urgent donations.
- Holiday marketplace scams: You pay for a gift via Zelle, but it never arrives.
- “Bank” alerts: You get a text or call saying your account is compromised, followed by a request to “verify” by sending money.
Card management options and credit card fraud
Card users may see increased fraud attempts during the holidays, especially with:
- Phishing emails: “Your holiday order has shipped!” (But you didn’t place one.)
- Skimming at ATMs or gas stations: Scammers may install devices to steal users’ card info.
- Fake travel deals: Too-good-to-be-true holiday getaways that collect your payment info.
Stay safe this season
Paying close attention and questioning the validity of an iffy scenario may save you this holiday season. Make sure you:
- Only send money to people you know. Zelle is like cash; once it’s gone, it’s gone.
- Double-check donation links or go directly to the charity’s website.
- Question messages of urgency. Financial institutions won’t ask you to send money to fix fraud.
- Use trustworthy websites when shopping online.
- Enable real-time transaction alerts.
- Review your statements regularly.
Give the gift of awareness
Share these tips with friends and family, especially older relatives or younger shoppers who may be more vulnerable. A quick conversation could save someone from a costly scam.
By staying alert and informed, you can keep your finances safe and focus on what the holiday season is truly about.
