'Tis the Season for Holiday Scammers

November 22, 2022

by Christian Phillips

As the Holiday season begins, we encourage you to protect your online experiences with Frandsen’s tips on “How to Spot Fake Websites” and “Why You Should Avoid Using Public Wi-Fi Connections.”

Online Shopping:
Online shoppers will notice that the volume of fake websites will increase during the holiday season. “Black Friday” and “Cyber Monday” provide scammers with additional opportunities to compromise consumer information. Fake websites will advertise significant discounts on highly sought-after items to attract potential buyers. Approach online deals with caution; if the prices seem too good to be true, they probably are.

Payment Methods:
It is not a standard practice for businesses to request payments through money transfer apps, wire transfers, prepaid gift cards, and cryptocurrency. Websites must follow specific regulations, including clear terms and conditions, an imprint of company contact information, encrypted checkouts using HTTPS Connections, and finalized payment details. Remember to use traceable payment methods to safeguard your transactions.

Public Wi-Fi:
Online shoppers should avoid connecting mobile devices to public Wi-Fi networks. Generally, public Wi-Fi lacks encryption for sensitive data. Unsecured networks allow hackers to place themselves between the user and the network connection. This is also known as a man-in-the-middle attack. The information sent from the user’s device is delivered to the hacker, then relayed to the Wi-Fi connection. This process can compromise identifiable information such as emails, phone numbers, social security numbers, banking information, and addresses that can be used for financial gain.

Fake Order Confirmations:
Fraudulent order confirmations are executed through an online scam called phishing. Phishing attacks are spread to consumers through emails to compromise consumer information. The volume of phishing emails can increase during the holiday season, so consumers must be able to identify the warning signs and question the source’s validity before taking the appropriate course of action. Don’t click on external links or provide sensitive information to email addresses. Confirm pending orders through the company’s website, or use associated customer service helplines.

Password update:
Reevaluate online passwords to reduce the chances of compromising account security. Create a password that contains eight to twelve characters, including letters, numbers, and symbols. For example, ypDek@7Cowt2 is an accurate representation of strong password protection. If you need assistance generating complex passwords, password generators can be a helpful resource. Enabling two-step authentication for mobile and web applications can provide added security. The authentication process will request supplementary information before authorizing access.

[Final Thoughts]
Frandsen Bank & Trust wants its customers to be safe while taking advantage of online holiday deals. If you believe personal banking information has been compromised, contact the Frandsen fraud department to begin the dispute at 877.253.8964.

'Tis the Season for Holiday Scammers

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