In addition to the holiday season, December is also Identity Theft Protection Month, which is why we’ve compiled the following scams and provided tips to keep yourself safe from potential fraud this holiday season.

1. Phishing emails

Due to increased online shopping and other purchasing habits, phishing scams might occur more frequently. These could occur in the form of fake digital receipts or invoices, false shipping status alerts, and fake customer surveys.

To protect yourself from phishing email scams, always check the web address of links you click directly in an email. Ensure it’s properly spelled and secured. Also never provide personal information, including usernames, passwords or payment information in “customer surveys.” Legitimate surveys won’t ask for this information.

2. Phony gift cards

The anonymity gift cards provide has always made them appealing to fraudsters. Many scammers sell expired or empty gift cards this time of year, and other times they might use stolen credit card information to purchase gift cards.

Ask to inspect any gift card you purchase before you finalize the sale. Check to see if the activation code is exposed. If it is, the scammer has probably already used the card or has copied the information and will use it soon.

3. Bogus websites

Due to the pandemic, more people may experience financial strain this holiday season. While you may find that perfect gift priced just-right, it’s important to make sure it’s coming from a legitimate source. A good rule of thumb: if it’s too good to be true, it probably is. Don’t believe ads or websites that are giving away big-ticket items for free.

Be sure to only shop on reputable, secured websites. Many bogus sites look similar to the site they are posing as, but the URL might be off by one letter. You can also easily verify a website’s security by ensuring the web address starts with “https.”

4. Fake purchase

In the fake purchase scam, scammers will try to convince you that you have an item on hold, and you must give them payment information to complete the order. Scammers will often use companies like Amazon or Walmart because of their high traffic during the holidays.

If you receive any calls, emails, or text messages asking about an order that you didn’t place, do not engage with the caller/sender. Confirming your contact information could potentially open the door for other scammers to contact you. It’s best to block the sender to prevent any potential fraud.

If you’ve placed an order recently, contact the merchant directly, using the phone or email on their website, to ensure your order is secure. If possible, try visiting a physical location to check on the order with a customer service representative. Also, informing the company of the scam you experienced will help them to inform other customers of potential fraud.

At Northern, we’re committed to your peace of mind and account security. If you think you’ve experienced any of these scams, or if you want to learn more about EZShield Identity Protection, use live chat, call or text 315.782.0155, or connect with us through Video Banking.

The post Protect Yourself From Online Shopping Scams appeared first on Northern Credit Union.

Applying for personal loans online is convenient and can save time. Unfortunately, scammers have also found ways to take advantage of this and use deceptive marketing to trick you into applying for a fake loan, which can result in identity theft and money loss. Other loans might make claims of “Guaranteed Approval” or “No Credit Check Required,” but come with severe penalties, large fees, and high interest rates.

We recommend these best practices to help ensure a safe, secure experience to avoid loan scams when applying for loans online:

• Don’t give out your online or mobile banking username and password. A legitimate financial institution will never ask for this information. To protect your identity and avoid online loan scams, this information should never be shared.
• Don’t make payment up-front using a gift card, money order or wire transfer. Non-traditional forms of up-front payment are a sure sign of a fake loan. Some lenders may require a down payment, but never in the form of gift cards or wire transfer. Your financial institution can help you securely transfer funds to online lenders who require down payment.
• If it’s too good to be true, it probably is. Information about your income and credit history prove your ability to pay back a loan and is used to secure a fair interest rate and affordable monthly payment. Online loans that don’t require this information likely come with harsh strings attached or even worse, could be an online loan scam. If you need help building your credit score, your credit union is a great resource for tools and information to improve your financial wellness.
• Make a smart choice by researching online lenders. Before you choose to work with an online lender, look for reviews from trusted sources other than the lender’s website. These reviews will provide insight into the experiences that others have had with the company.
• Bank with someone local that you can trust. While there are many legitimate online lenders, when possible we recommend banking with a local financial institution that keeps your best interest in mind.

Credit Unions are not-for-profits and exist to serve and invest in their members. This philosophy makes it possible for credit unions to offer competitive rates on their loans. Visit our website to see the great rates we offer or give us a call at 315.782.0155 to get pre-approved. We want to help you live your best financial life and keep you safe from fraud.

The post Tips to Avoid Online Loan Scams appeared first on Northern Credit Union.