Stay Safe While Holiday Shopping: Tips to Avoid Scams and Fraud

The holiday season is a time of joy, celebration, and, of course, shopping. However, it’s also a prime time for scammers and fraudsters to take advantage of the increased spending. Here are some essential tips to help you stay safe and protect your hard-earned money while holiday shopping.

1. Shop from Reputable Websites

Always make sure you’re shopping from well-known and trusted websites. Be aware that some fraudsters take advantage of typos in the name of a site to try to steal from you.  Make sure that the site you want to go to is the one you actually end up on.

2. Beware of Too-Good-To-Be-True Deals

If a deal seems too good to be true, it probably is. Scammers often lure shoppers with unbelievably low prices on popular items. Stick to reputable retailers and compare prices to avoid falling for these traps. If a site has a marketplace that hosts third-party sellers, review their return policies before making a purchase from that part of the site. 

3. Use Secure Payment Methods

Avoid using debit cards for online purchases. Credit cards offer better fraud protection, and services like PayPal add an extra layer of security. Never wire money or use prepaid gift cards to pay for purchases. In person, the most secure payment you can use is the Tap to Pay option with a credit card.  Even if the point of sale is compromised, your account is safe. 

4. Monitor Your Accounts Regularly

Keep an eye on your bank and credit card statements for any unauthorized transactions. The sooner you spot suspicious activity, the quicker you can act to mitigate any damage. CoVantage will never ask for your MyCoVantage Username or Password. If you get a phone call from us and they ask for this information, hang up this is a scam call. Use alerts to notify you of significant account changes to your balance. 

5. Be Cautious with Emails and Links

Phishing emails are a common tactic used by scammers. Be wary of unsolicited emails offering amazing deals or asking for personal information. Avoid clicking on links in these emails; instead, go directly to the retailer’s website.

6. Use Strong, Unique Passwords

Ensure your online shopping accounts are protected with strong, unique passwords. Never reuse passwords.  Consider using a password manager to keep track of your passwords and enhance your security.

7. Check Return Policies

Before making a purchase, review the retailer’s return policy. Scammers often sell counterfeit or substandard products with no option for returns. Knowing the return policy can save you from potential headaches.

8. Keep Software Updated

Make sure your computer, smartphone, and any other devices you use for shopping have the latest security updates installed. This helps protect against malware and other security threats. Consider using antivirus programs to provide an additional layer of security.  Avoid installing extensions recommended by websites as they could be used to capture your payment information. 

9. Be Wary of Public Wi-Fi

Avoid making purchases over public Wi-Fi networks, as they are often less secure. If you must shop while on the go, use a virtual private network (VPN) to encrypt your internet connection or use your cell phone’s mobile data.

10. Trust Your Instincts

Finally, trust your instincts. If something feels off or you have doubts about a website or deal, it’s better to err on the side of caution.

CoVantage will never request your login credentials, passwords, one-time passcode, or PIN. Sharing this type of information can put your account at risk and subject you to fraud and identity theft. Keep in mind that at times CoVantage may send you a text to confirm a transaction, verify a card transaction, or before allowing a high-risk activity in digital banking, but will NEVER request your password or PIN. If you receive a request from CoVantage and have questions about its authenticity, reach out to our Contact Center or visit your local branch.

By following these tips, you can enjoy a safer and more secure holiday shopping experience. Stay vigilant, and happy holidays!