Stay Fraud Aware this Holiday Season

November and December mark the return to the hustle and bustle of festive parties and holiday shopping, but they’re also a busy time for fraudsters looking to take advantage wherever they can. While we are all busy crossing off items on our to-do lists, scam artists jump on any opportunity to strike when our attention is elsewhere. By learning what to watch out for, you can avoid becoming a victim this holiday season.

Tip 1: Trust your Instincts

If you receive an email, text message or phone call that makes you feel wary or suspicious, always trust your gut. It is never a bad idea to close the message, or end the call, and do some investigating before you engage in what is being asked of you. If something seems too good to be true or makes you question the legitimacy of what is being asked of you, your instincts may be right. Don’t ignore that nagging feeling, and never reveal financial information without making sure the website, promotion or opportunity is legitimate.

Tip 2: Don’t Cave to Pressure Tactics

Since most of us let our guard down when we are feeling pressured, scammers want to create a sense of urgency. It is very common for fraudulent communications to use forceful language and threats to scare you into acting quickly without thinking or investigating further. If you receive a message saying that you need to act fast or risk your account being closed or your purchase being cancelled, alarm bells should be ringing. Don’t fall for the tricks; take the time to review the information clearly (and contact the company directly through the phone number on their legitimate website) before taking any action.

Tip 3: Don’t Keep Secrets

Another common tactic used by fraudsters is to prey on consumers’ insecurities. If you receive a call or message asking that you don’t share information with others, this is another red flag. Any time you have concerns or questions about what is being asked of you, it is a good practice to check with someone you trust – such as a relative or friend – to get their thoughts on what is being asked of you. Sometimes fraud may slip under our own personal radar, but speaking with someone else can offer insights that may be helpful to you. Remember, if anyone asks that you keep something quiet, particularly when money is involved, you are right to be suspicious.

For helpful information and examples of some of the most common types of fraud encountered during the holiday season, be sure to visit our Holiday Fraud Tips page at www.tandia.com/fraud

Always review your banking transactions frequently, especially during the holiday season, and report any unfamiliar or suspicious transactions immediately. If you have any concerns about fraud or would like to learn how to protect yourself from some common scams, visit your branch or contact our Member Solutions Centre today. We’d love to help you to stay safe and vigilant this holiday season.