The holiday season is a time of joy, giving, and celebration. But for scammers, it's also an opportunity to steal your holiday cheer (and your credit card information). With the rise in online shopping and social interactions, it's more important than ever to stay alert and protect yourself. Here are two of the most common scams you should watch out for this season and tips to keep your financial information safe.
Smishing/Text Scams
'Tis the season for online shopping and package deliveries. Unfortunately, it’s also prime time for fraudsters looking to take advantage of the busy shipping season. One common tactic they use is smishing, a phishing attack involving text messages designed to steal your personal information.
How the Scam Works:
Scammers send text messages that look like they're from a reputable shipping company. The message might claim that there's an issue with your package delivery or that you missed an important delivery. They might say something like, “Urgent! Your package is being returned unless you click this link to confirm your address.” The link in the message could lead to a fake website or prompt you to enter sensitive information, such as your credit card number, Social Security number, or online banking login. In some cases, clicking the link can even install malware on your device.
How to Protect Yourself:
- Don’t click links in unsolicited texts, especially if the sender is unknown.
- Never share personal information via text message.
- Verify the sender by contacting the company directly through their official website or customer service number.
- Track packages directly on the delivery service's website instead of relying on text updates.
Sweetheart Scams
As the holiday season approaches, romance scams, also known as sweetheart scams, begin to rise. Scammers exploit the loneliness and generosity people often feel during this time of year, targeting vulnerable individuals through online dating sites and social media.
How the Scam Works:
Scammers often create fake profiles on dating sites or social media platforms, portraying themselves as kind, caring, and deeply interested in their victims. They may shower their targets with compliments, affection, and promises of a future together. Once trust is established, the fraudster will invent an emergency—a medical crisis, a sudden financial hardship, or an unexpected travel issue—and ask for money.
In some cases, they may also try to convince you to use your own account to send money on their behalf. This can seem harmless at first, but it’s a major red flag. Not only will you lose your money, but you will also be responsible for paying it back.
How to Protect Yourself:
- If someone you've met online professes their love or affection too quickly, it's crucial to be cautious. Scammers often manipulate emotions to gain trust.
- Avoid sending money to someone you've never met in person, no matter how convincing their story is.
- Before diving into an online relationship, verify their identity by requesting a video call or meeting in person, if possible.
- Never share sensitive information with someone you've just met online. They can use this information for identity theft and fraudulent activities.
Your Safety Is Our Priority
At Credit Union of America, we care about your security. If something doesn't feel right—whether it’s a questionable text message or a suspicious online relationship—trust your instincts. We're here to help you navigate scams and keep your financial information safe. This holiday season, stay safe, stay alert, and remember that the best gifts are peace of mind and a secure financial future.
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