Protecting Yourself from Holiday Scams This Cyber Monday

The holiday shopping season is in full swing, and Cyber Monday has become a major event for online shoppers looking for big discounts and unbeatable deals. While the allure of massive savings can be irresistible, it’s important to remember that the holiday season also brings a surge in cyber scams. Fraudsters are working overtime to take advantage of unsuspecting shoppers, and Cyber Monday is a prime opportunity for them to strike.

We want you to enjoy the holidays with peace of mind, knowing your personal information and finances are safe. Below is a special Cyber Monday edition of essential tips for protecting yourself from holiday scams this year.

1. Beware of Phony Deals

One of the most common scams during Cyber Monday is the too-good-to-be-true deal. You may receive emails or social media posts offering unbelievable discounts or gifts that sound irresistible. Fraudsters often send fake promotions, claiming that they’re exclusive holiday deals, but their goal is to steal your credit card information or install malware on your device.

How to Protect Yourself:

• Always verify the source before clicking on any link. Check for misspellings, strange URLs, or unfamiliar domains in emails or ads.
• Stick to reputable websites and retailers that you’ve purchased from before or that have positive reviews.
• Avoid clicking on suspicious links from social media or unsolicited emails. If you're unsure about an offer, go directly to the retailer's website to verify the deal.

2. Phishing Emails and Fake Websites

Scammers are known for sending fake emails that appear to be from well-known retailers or payment processors. These emails often include urgent messages claiming you've won a prize or that there's an issue with your payment, asking you to click on a link to resolve it. Once you click, you’re often redirected to a fake website that steals your personal and financial information.

How to Protect Yourself:

• Be wary of emails that demand immediate action or ask for sensitive information like your password, credit card number, or Social Security number.
• Always hover over links in emails to preview the URL before clicking. If it looks suspicious or unfamiliar, don’t click it.
• If you receive an email asking you to reset your password or confirm payment information, go directly to the retailer’s website to check your account status—don’t follow the link in the email.
• Look for red flags like generic greetings ("Dear customer") instead of your name or grammatical errors.

3. Fake Tracking Numbers and Shipping Scams

You’ve made your purchases and are eagerly awaiting your items to arrive, but then you receive an unexpected email with a shipping confirmation or tracking number for a package you don’t remember ordering. This is a common scam. Fraudsters send these emails to trick you into clicking malicious links or downloading harmful attachments that can compromise your personal information.

How to Protect Yourself:

• If you receive a shipping confirmation email that seems off or is from an unknown sender, do not click on any links or open attachments. Instead, check your order status directly on the retailer’s website by logging into your account.
• Be suspicious of emails or texts that offer an unreasonably fast delivery time, or that claim there’s an issue with your shipment.
• Always check the tracking number on the carrier’s website to confirm that it matches the information provided by the retailer.

4. Fake Charities and Donation Scams

The holidays are a time for giving, but scammers know that too. During the holiday season, you may encounter fraudulent charity scams that claim to be collecting donations for a cause. These fake charities may use Cyber Monday, or other holiday sales events to solicit contributions, taking advantage of your good intentions.

How to Protect Yourself:

• Always research any charity you are considering donating to. Use resources like Charity Navigator or GuideStar to ensure that the organization is legitimate and that your donation will go to a cause you care about.
• Don’t give money or personal information over the phone to unsolicited charity requests, especially those that pressure you for an immediate donation.
• Be cautious if you’re asked to donate via a gift card, cryptocurrency, or wire transfer—these are common red flags for fraud.

5. Counterfeit Goods

Cyber Monday is the perfect time for scammers to offer counterfeit or knock-off products at “amazing” prices. Whether it’s high-end electronics, designer clothing, or beauty products, if a deal seems too good to be true, it probably is. Counterfeit goods may look similar to the real thing, but they can often be subpar in quality and may even pose safety risks.

How to Protect Yourself:

• Stick to authorized retailers when shopping for high-end products. Be cautious about purchasing from marketplaces or unfamiliar websites that don’t have verified customer reviews.
• Read reviews and look for any complaints about fake products or poor customer service before making a purchase.
• If the price is significantly lower than the standard retail price, it’s likely a scam.

6. Social Media Scams and Fake Giveaways

Social media platforms are a popular venue for scams during the holiday season. Fraudsters may create fake giveaway campaigns or “flash sales” that promise amazing prizes but require you to submit personal information or follow suspicious links in order to enter. Once you do, you may have your personal information stolen or even be charged for something you didn’t order.

How to Protect Yourself:

• Be skeptical of posts that promise prizes or exclusive offers from social media accounts that are unfamiliar.
• Always read the fine print—real giveaways will never ask for payment or personal information like your Social Security number.
• Make sure the social media account hosting the promotion is verified (look for the blue checkmark next to the name) and is a legitimate business account.

7. Use Secure Payment Methods

During the Cyber Monday rush, it’s easy to get swept up in the excitement of a great deal. However, it’s essential to use secure payment methods to protect your financial information. Avoid using wire transfers, gift cards, or sending cash to unknown parties.

How to Protect Yourself:

• Use safe payment services offered by your financial institution such as Apple Pay or Google Pay. These payment methods offer additional layers of protection against fraud by creating unique transaction and security codes to protect your card information.
• When making a purchase, ensure the website has a secure connection (look for “https” in the URL) and an SSL certificate.
• Never store your payment information on unfamiliar websites and be cautious of offers that ask you to save your card details for future use.

Stay Smart, Stay Safe

Cyber Monday is an exciting time for shoppers, but it’s also a time when scammers are out in full force. By staying vigilant, practicing safe online shopping habits, and verifying the legitimacy of deals and websites, you can protect yourself and your finances from falling victim to holiday scams.

At First Bank and Trust Company, we’re committed to your financial security. If you suspect any fraudulent activity on your accounts or need assistance, contact our support line at (866)428-5998. Wishing you a safe and joyful holiday shopping season—shop smart and protect yourself this Cyber Monday!