Scam Alert: The holiday credit card scams you need to watch for immediately!
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The holiday season is a time of joy, generosity, and celebration. It's also the prime time for credit card scammers to come out of the woodwork, aiming to take advantage of the festive spirit.
As we deck the halls and click through our online shopping lists, it's crucial to stay vigilant against the clever tactics of fraudsters. Let's unwrap the unsavory tactics these scammers use and arm you with the knowledge to protect your wallet.
As we've traded crowded malls for the convenience of e-commerce, credit card scams have proliferated, especially during the holiday shopping frenzy.
According to Michael Jabbara, Visa’s global head of fraud services, there's been a staggering 284% increase in fake and spoofed merchant websites compared to the previous four-month period.
He added, “Fraudsters try to capitalize on people who are looking for a great deal by creating fake websites where it looks like favorite brands are being sold for unbelievable prices.”
The Art of Deception: Skimming Machines and Spoofed Sites
Scammers have become increasingly sophisticated, using credit card skimming machines that can steal your card information in an instant. These devices can be discreetly attached to ATMs or point-of-sale terminals, capturing your card data without you knowing. But it's not just physical devices you need to watch out for.
Charity with Caution: The Season of Giving or Scamming?
The holiday season's spirit of giving is unfortunately exploited by scam artists who set up fake charities or impersonate real ones. These scams tug at your heartstrings, hoping you'll open your wallet without a second thought. Before you donate, do your due diligence to ensure your generosity reaches those truly in need.
Beware of Text Message Traps
If you receive a text message alerting you to a fraudulent charge on your credit card, think twice before responding. Scammers often use this method to phish for your personal information, including passcodes.
Remember, as Ted Jenkin, co-founder of oXYGen Financial, advises, your credit card company will never ask for sensitive details via text or email. When in doubt, call the number on the back of your card to verify any suspicious messages. He says, “The simplest thing to do is pick up the phone, call the 800 number on the back of your card, and validate what you received on your phone.”
The Social Media Money Mirage: Card Cracking Scams
Social media isn't just for sharing holiday photos; it's also a hunting ground for scammers promoting quick cash schemes. Known as “card cracking,” these cons entice you to share your debit card or bank account information under the guise of depositing checks.
Instead, the criminals deposit worthless checks and withdraw the funds before the bank catches on, leaving you in the lurch.
ATM Skimmers and Keypad Overlays: A Double Threat
ATMs are another hotspot for scammers, especially during the holidays when cash withdrawals spike. Skimmers can be installed on card readers or within the terminal, while pinhole cameras and keylogging overlays capture your PIN. Always inspect the ATM for any unusual attachments and cover the keypad when entering your PIN.
Phishing, Identity Theft, and Package Delivery Scams
Securities attorney Andrew Stoltmann notes that phishing and identity theft are among the top credit card frauds he's encountered. A common scam involves a fake text from delivery services like UPS or FedEx, which can lead to unauthorized access to your phone or trick you into revealing credit card details.
Have you encountered any suspicious activity this holiday season? Do you have tips for staying safe while shopping online? Share your experiences and advice in the comments below!
nts below!
As we deck the halls and click through our online shopping lists, it's crucial to stay vigilant against the clever tactics of fraudsters. Let's unwrap the unsavory tactics these scammers use and arm you with the knowledge to protect your wallet.
As we've traded crowded malls for the convenience of e-commerce, credit card scams have proliferated, especially during the holiday shopping frenzy.
According to Michael Jabbara, Visa’s global head of fraud services, there's been a staggering 284% increase in fake and spoofed merchant websites compared to the previous four-month period.
He added, “Fraudsters try to capitalize on people who are looking for a great deal by creating fake websites where it looks like favorite brands are being sold for unbelievable prices.”
Credit card scams are on the rise, especially during the holiday season when shoppers are looking for deals. Image source: Pexels / Kampus Production.
The Art of Deception: Skimming Machines and Spoofed Sites
Scammers have become increasingly sophisticated, using credit card skimming machines that can steal your card information in an instant. These devices can be discreetly attached to ATMs or point-of-sale terminals, capturing your card data without you knowing. But it's not just physical devices you need to watch out for.
Charity with Caution: The Season of Giving or Scamming?
The holiday season's spirit of giving is unfortunately exploited by scam artists who set up fake charities or impersonate real ones. These scams tug at your heartstrings, hoping you'll open your wallet without a second thought. Before you donate, do your due diligence to ensure your generosity reaches those truly in need.
Beware of Text Message Traps
If you receive a text message alerting you to a fraudulent charge on your credit card, think twice before responding. Scammers often use this method to phish for your personal information, including passcodes.
Remember, as Ted Jenkin, co-founder of oXYGen Financial, advises, your credit card company will never ask for sensitive details via text or email. When in doubt, call the number on the back of your card to verify any suspicious messages. He says, “The simplest thing to do is pick up the phone, call the 800 number on the back of your card, and validate what you received on your phone.”
The Social Media Money Mirage: Card Cracking Scams
Social media isn't just for sharing holiday photos; it's also a hunting ground for scammers promoting quick cash schemes. Known as “card cracking,” these cons entice you to share your debit card or bank account information under the guise of depositing checks.
Instead, the criminals deposit worthless checks and withdraw the funds before the bank catches on, leaving you in the lurch.
ATM Skimmers and Keypad Overlays: A Double Threat
ATMs are another hotspot for scammers, especially during the holidays when cash withdrawals spike. Skimmers can be installed on card readers or within the terminal, while pinhole cameras and keylogging overlays capture your PIN. Always inspect the ATM for any unusual attachments and cover the keypad when entering your PIN.
Phishing, Identity Theft, and Package Delivery Scams
Securities attorney Andrew Stoltmann notes that phishing and identity theft are among the top credit card frauds he's encountered. A common scam involves a fake text from delivery services like UPS or FedEx, which can lead to unauthorized access to your phone or trick you into revealing credit card details.
Have you encountered any suspicious activity this holiday season? Do you have tips for staying safe while shopping online? Share your experiences and advice in the comments below!
nts below!
