Christmas is a time for giving—at least that's what fraudsters are hoping. With all of the festivity, merrymaking and purchasing conducted over the Christmas season, people often let their guard down and become easy targets for fraud and identity theft.
The more transactions you make, the more at risk you are to be victimised. Don't be the one bestowing gifts on fraudsters—learn how to protect your identity and financial information. In the spirit of the Christmas holiday, we offer you “The 12 Tips of Christmas”:
1. Keep your PIN safe . Don't write your PIN down or disclose it to anyone, even your bank. When using your PIN for withdrawing cash or making a transaction, always shield it so it can't be seen by others. Use your body or hand to shield the PIN pad from customers, sales staff and people queuing behind you. Remember, it's easy to be careless during the rush of Christmas shopping.
2. Check card scanners for foreign devices . Fraudsters often leave these types of devices to copy your card information and hope you will be distracted enough with shopping to miss them. You can thwart their efforts with a quick check of each card machine you use.
3. Treat your cards like cash. When out for a Christmas meal or party, never leave your card unattended in public places or “behind the bar”, where fraudsters can copy the card information. Ask your waiting staff to bring the card processor to you or go with them, rather than letting them take your card. Never leave them unattended in a car, wallet or handbag where they may offer an open invitation to a potential thief.
4. Shop smart online. When submitting credit card information online, always check for the padlock symbol on your web browser and check that the web address starts with https://. This means that your payment information will be protected when it is transmitted. At the same time, make sure that you have up-to-date antivirus and personal firewall programs installed on your computer to prevent fraudsters from accessing your user names and passwords. Finally, add your favourite shopping sites to your internet browser favourites. If you always enter the site through your browser favourites, you can have confidence that you are not logging on to a fake website.
5. Be aware of what you throw away. After gifts are exchanged, it's easy to simply gather up all the leftover rubbish and put it out on the street for collection—providing yet another opportunity for fraudsters. Make sure that you do not discard receipts or correspondence that contains personal information or details of your financial affairs in your household waste. Shred any correspondence of a confidential or financial nature. Remember, small modestly priced domestic shredders are readily available—and they make an excellent Christmas gift!
6. Keep an eye out for your post. If you don't receive your usual Christmas cards and catalogues, it may be a sign that someone is tampering with your post. Communal halls, flats and other public residences with letterboxes can offer others easy access to your post. Not only can they get access to your personal details, they can use those details to successfully complete any application or catalogue offers that you may have received—with themselves as the recipients!
7. Watch how you handle your cheques. Be aware of how you send gift cheques to family and friends. Your cheques show your name, bank account number and your signature—information that would make a fine gift to a fraudster. Make sure that you choose secure methods for sending your cheques.
8. Prepare before travelling. If you plan on travelling to visit the family over the Christmas holiday, have your post picked up by a trusted family member or friend. Unattended post is a red flag that you are not around and that any personal information you left behind is unattended.
9. Be extra careful while travelling. If you plan on travelling abroad for the Christmas holiday, treat your cards as carefully as you would cash. Keep them with you rather than packing them in your suitcase and don't leave them unattended, either in your hotel room or when you are out and about. Make sure that your valuables are always concealed—especially in cars or on the beach. In addition, call your bank or lenders in advance of your trip to let them know that you'll be away so they can more effectively monitor your accounts.
10. Be aware of your personal actions. Extra merrymaking and consumption at year end Christmas parties can lead to carelessness when it comes to your personal property. Take note of your friends, your activities and your surroundings and don't leave any personal items or information unattended.
11. Check more than your Christmas list. Examine your bank and card statements thoroughly when you receive them. You may not realise your personal information has been jeopardised until you see questionable transactions on these statements. Also, check your credit report as often as you can. Your report will display every lender who reviews your background prior to extending credit. As a result, if somebody is trying to borrow money in your name, it will show up in your report.
12. Report lost or stolen cards immediately. Most important of all, notify your bank or lenders (as well as the police) immediately if your cards are lost or stolen, or if your personal information is compromised in any way. They can halt any further use of your accounts, arrange emergency access to cash if you need it and get you on the road to financial recovery. Remember, the faster you identify fraud, the faster it can be shut down—and the faster you can get back to enjoying the Christmas holiday.
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