As the holiday season approaches, many of us are looking forward to celebrations, gift-giving, and time spent with loved ones. However, this time of year also marks one of the busiest seasons for scammers and identity thieves. From online shopping scams to phishing emails, these malicious actors prey on the increased financial activity and distracted minds of holiday shoppers. Preparing ahead of time can make all the difference in keeping your personal and financial information safe.

Dover Federal Credit Union is dedicated to helping you protect yourself during this busy season. In this post, we’ll cover key tips to safeguard your personal data and finances from the surge of holiday-related scams, and how Dover Federal Credit Union’s resources can support your efforts.

The Rise of Holiday Scams: Why Are Scammers So Active?

The holiday season sees a marked increase in scams for several reasons:

• Increased online shopping: More people turn to online retailers, creating an opportunity for scammers to set up fake websites, steal payment information, or trick users into sharing personal data.
• Higher transaction volumes: With more frequent transactions, it becomes harder to notice fraudulent activity on your credit card or bank account.
• Busy and distracted shoppers: The rush of the holiday season can make people less vigilant when it comes to recognizing suspicious activity or verifying the legitimacy of emails and offers.

Scammers are aware of these trends, and they take full advantage of them. But with awareness and a proactive mindset, you can significantly reduce your risk of falling victim to these tactics.

Common Holiday Scams to Watch Out For

1. Online Shopping Scams

With countless deals and promotions flooding your inbox, it’s easy to fall for a fake website or too-good-to-be-true offer. Scammers create fraudulent online stores that mimic legitimate retailers to steal payment information or send counterfeit products.

Tip: Always verify the URL of any online store before making a purchase and look for secure sites (those starting with "https://"). It's also wise to shop directly from trusted retailers.

2. Phishing Emails and Texts

Phishing attempts often increase during the holidays. Scammers send emails or texts that appear to be from trusted brands, urging you to click on a link or provide personal information. These links often lead to fraudulent websites designed to steal your data.

Tip: Never click on suspicious links or attachments from unknown senders. If the message claims to be from a trusted retailer or financial institution, go to their official website directly by typing the URL in your browser.

3. Charity Scams

The spirit of giving is strong during the holidays, and scammers exploit this by creating fake charities to steal donations.

Tip: Before donating to any cause, research the charity through trusted sources like Charity Navigator or the Better Business Bureau. Ensure the charity is legitimate before giving any personal or payment information.

4. Package Delivery Scams

Many people expect deliveries during the holidays, and scammers capitalize on this by sending fake delivery notifications. These messages often include a link to “track your package” but instead lead to malware or phishing sites.

Tip: Be cautious of unsolicited package notifications. If you’re unsure about a delivery, verify tracking information through the retailer’s website or your account.

Protecting Your Identity During the Holidays

In addition to staying alert to common scams, there are several steps you can take to proactively protect your identity and financial information throughout the holiday season.

1. Monitor Your Accounts Regularly

Frequent checking of your bank and credit card statements can help you catch any unauthorized transactions early. Most credit unions and banks, including Dover Federal Credit Union, offer mobile banking apps that make it easy to track your spending in real-time.

2. Enable Alerts

Set up transaction alerts through Dover Federal Credit Union’s online banking platform. These alerts will notify you of any unusual activity, such as large purchases or foreign transactions, so you can act quickly if fraud is detected.

3. Use Secure Payment Methods

Whenever possible, use payment methods that offer additional security, such as credit cards with fraud protection or services like PayPal, which mask your card details.

4. Strengthen Your Passwords

Many people reuse the same passwords across multiple sites, which can be risky if one site gets breached. Consider using a password manager to create and store strong, unique passwords for each account.

5. Be Wary of Public Wi-Fi

Avoid making purchases or accessing sensitive accounts over public Wi-Fi, as it’s easier for hackers to intercept your data on unsecured networks. If you need to shop online while on the go, use a VPN (Virtual Private Network) for added security.

6. Freeze Your Credit

If you're concerned about identity theft, freezing your credit can prevent scammers from opening new accounts in your name. Freezing your credit with the major bureaus is free and easy, and it doesn't affect your current credit cards or loans.

How Dover Federal Credit Union Can Help

Dover Federal Credit Union is committed to helping its members stay safe during the holiday season and beyond. Here’s how we can assist:

1. Fraud Monitoring

Our advanced fraud monitoring systems help detect unusual activity on your accounts. If we spot anything suspicious, you’ll be notified immediately so we can take action together.

2. Identity Theft Protection Resources

Visit Dover Federal Credit Union’s website for comprehensive resources on identity theft protection, including tips on securing your accounts, spotting fraud, and what to do if you suspect your identity has been compromised.

3. Secure Online Banking

Our secure online and mobile banking platforms provide you with peace of mind, allowing you to manage your finances safely from anywhere. Set up account alerts, monitor transactions, and pay bills all within a secure environment.

4. Holiday Budgeting Tools

Holiday overspending can lead to additional financial vulnerabilities. Take advantage of our budgeting tools to help you stay on top of your finances during this busy season. You can also explore our savings plans, designed to help you plan for holiday expenses while protecting your financial well-being.

Conclusion

The holiday season should be a time of joy and giving, not stress and worry about scams and identity theft. By staying informed and taking proactive steps, you can protect yourself from the increased risks that come with holiday shopping and online transactions. Dover Federal Credit Union is here to support you every step of the way, offering resources and tools to safeguard your finances.

Stay vigilant, shop smart, and keep your personal information secure this holiday season. For more information on fraud prevention and identity protection, be sure to visit Dover Federal Credit Union’s website.

Frequently Asked Questions (FAQs)

1. What are the most common scams during the holiday season?
Common holiday scams include online shopping scams, phishing emails, charity scams, and fake package delivery notifications.

2. How can I spot a phishing email?
Phishing emails often contain generic greetings, grammatical errors, or urgent requests for personal information. Be cautious of unsolicited links or attachments.

3. Is online shopping safe during the holidays?
Yes, but only if you shop on secure websites. Look for “https://” in the URL and avoid making purchases over public Wi-Fi.

4. How can I monitor my accounts for fraud?
Use your bank or credit union’s mobile app to check your account regularly and set up transaction alerts for any unusual activity.

5. What should I do if I suspect identity theft?
Contact your financial institution immediately to report the issue and consider freezing your credit to prevent new accounts from being opened in your name.

6. Can Dover Federal Credit Union help with identity theft protection?
Yes, Dover Federal Credit Union provides fraud monitoring, secure banking services, and resources on identity theft prevention through our website.

Dover Federal Credit Union

For 66 years, Dover Federal Credit Union has served as a member-owned financial cooperative, designed to provide access to equitable financial products and services that create stability and lead to establishing generational wealth.  Today we serve over 44,000 members, encompassing the military, Delaware families and Workplace Partners. Serving Camden, Dover, Middletown, Milford, Smyrna & the New Castle areas in branch & online.