This time of year, consumers are inundated with Black Friday and Cyber Monday promotions and deals. While the holidays raise online and in-store traffic and sales, it also increases fraud. Unfortunately, fraudsters are hard at work to gain access to your money. Common fraud types are account takeovers, payment fraud, and scams.
Here are some tips to avoid fraud: 1) when shopping online, don’t be fooled by fake, look-a-like or spoofed websites. They may contain malware to capture personal information, 2) watch out for fake emails, social media sites or text messages asking for donations to phony charities, 3) be sure to apply in person or go to a business” website to validate offers or approved application messages that you may receive via email or text, and 4) beware of people asking for payment in the form of prepaid cards, gift cards, wire transfers or going through a third party. These types of payments are usually not traceable.