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The holiday season is finally here. It’s a time for festive gatherings, thoughtful gift-giving, and spending quality moments with loved ones. But amidst the rush of buying presents and planning parties, it is easy to let your guard down. Unfortunately, scammers know this all too well.
Fraud attempts spike dramatically during the holidays. Bad actors take advantage of the surge in transaction volume, the distraction of busy shoppers, and the general spirit of generosity. Whether it is a fake charity plea or a sophisticated online shopping scam, the risks are real.
At Taylor Bank, we want your holidays to be memorable for the right reasons—not because of a compromised debit card or a drained bank account. We are committed to helping you protect your hard-earned money. By staying vigilant and knowing what to look for, you can stop fraudsters in their tracks.
Here is your guide to identifying risks and keeping your finances secure this season.
Staying Safe Online
Most holiday shopping now happens on screens rather than in stores. While convenient, online shopping opens several doors for cybercriminals.
Watch Out for Phishing Scams
Phishing remains one of the most common tactics used by fraudsters. During the holidays, your inbox likely fills up with order confirmations, shipping updates, and promotional offers. Scammers hide in this noise. They send emails or text messages that look like they come from legitimate companies—like Amazon, FedEx, or even your bank.
These messages often claim there is an issue with a delivery or offer a deal that seems incredible. They usually demand urgent action, trying to panic you into clicking a link. Once you click, they may steal your login credentials or infect your device with malware.
The fix: Pause before you click. Check the sender's email address carefully. If an email claims your package is delayed, do not click the link inside. Instead, go directly to the carrier’s official website and type in your tracking number.
Verify Websites Before You Buy
Fake retail websites pop up by the hundreds during November and December. These sites often mimic popular brands, using logos and designs that look authentic. They might advertise luxury items at 80% off or claim to have the year’s "must-have" toy in stock when everyone else is sold out.
If you enter your payment details on these sites, you likely won't receive the item. Worse, the scammers now have your credit card number.
The fix: Stick to retailers you know and trust. If you are buying from a new site, research it first. Look for reviews and check the URL. Ensure the address starts with "https://" (the "s" stands for secure) and look for the padlock icon in the browser bar.
The Dangers of Public Wi-Fi
It is tempting to check your bank balance or finish some last-minute shopping while sipping a latte at a coffee shop. However, public Wi-Fi networks are notoriously insecure. Hackers can position themselves between you and the connection point, intercepting every piece of data you send—including credit card numbers and passwords.
The fix: Treat public Wi-Fi as a viewing-only zone. Browse the news or look up recipes, but never log into your bank account or make purchases. If you must transact on the go, switch to your cellular data or use a Virtual Private Network (VPN).
Beware of QR Code Scams
We have grown used to scanning QR codes for menus and payments. Scammers have started placing fake QR stickers over legitimate ones in public places, such as parking meters or advertising posters. Scanning these can redirect you to a malicious site that downloads malware to your phone or asks for payment information.
The fix: Inspect the code before you scan. If it looks like a sticker was pasted over an original code, do not use it.
Protecting Your Physical Wallet
While online fraud grabs headlines, traditional theft hasn’t gone away. When you are out and about, you need to protect your physical cards just as fiercely as your digital data.
Card Skimmers
Card skimmers are small devices illegally attached to legitimate card readers. They capture the data from your card’s magnetic stripe. You will often find these on gas station pumps and outdoor ATMs where supervision is low. Skimmers are getting smaller and harder to spot, but they are often made of cheap plastic that feels different from the actual machine.
The fix: Perform the "wiggle test." Before you insert your card, grab the reader and give it a firm shake. If it feels loose, bulky, or misaligned, do not use it. Move to a different pump or find another ATM.
Physical Theft and Distraction
Crowded malls and holiday markets are pickpocket paradises. Thieves look for unattended purses in shopping carts or wallets sticking out of back pockets. They rely on the fact that you are distracted by your shopping list or managing children.
The fix: Carry only what you need. Leave extra credit cards and your Social Security card at home. Keep your wallet in a front pocket or use a bag that zips closed and stays close to your body. Never leave your purse unattended, even for a second.
Holiday Scams to Know
Beyond general theft, scammers cook up specific narratives to exploit the holiday spirit.
- Gift Card Scams - If someone asks you to pay for a service or bill using a gift card, it is a scam. Legitimate businesses and government agencies will never demand payment via Amazon or iTunes gift cards. Scammers love them because they are like cash: once you share the code, the money is gone and cannot be traced.
- Charity Scams - The holidays inspire generosity, and fraudsters exploit this by creating fake charities. They may call you or send professional-looking mailers asking for donations for veterans, children, or disaster relief.
The fix: Donate to organizations you know. If a new charity contacts you, verify them using resources like Charity Navigator or the Better Business Bureau before giving a cent.
How to Fortify Your Finances
Prevention is powerful. By adopting a few security habits, you can significantly lower your risk of becoming a victim.
- Monitor Your Accounts Relentlessly - Don't wait for your monthly statement to arrive. During the holidays, log in to your Taylor Bank online banking or mobile app frequently—even daily. Scan your recent transactions. If you see a charge you don't recognize, even for a small amount like $1.00, investigate it. Thieves often run small "test" charges to see if a card works before making a large purchase.
- Use Strong Authentication - Passwords are your first line of defense. Ensure you are using strong, unique passwords for your financial accounts. Avoid using "Password123" or your pet's name. Where possible, enable Multi-Factor Authentication (MFA). This sends a code to your phone or email when you try to log in. It adds a crucial step that stops hackers even if they steal your password.
- Set Up Real-Time Alerts - Most modern banking apps, including ours, allow you to set up transaction alerts. You can receive a text message or push notification every time your card is used. This instant feedback loop allows you to spot fraud the second it happens, rather than days later.
The holidays should be a time of joy, not stress over financial security. By staying skeptical of "too good to be true" deals, securing your devices, and monitoring your accounts, you can enjoy the season with peace of mind. Taylor Bank is here to help you keep your finances safe, so you can focus on what truly matters.