With the holiday season comes an increased risk of fraud and scams that can quickly turn members’ celebrations into situations with devastating financial outcomes.  We’ve put together five tips to help you keep your members and their information safe this holiday season.   

Visa’s 2024 Holiday Threats Report reveals that account takeover, theft of data, and theft of funds are the top methods used by fraudsters during the holidays.  Here’s how you can help your members stay safe as they do their holiday shopping:

1. Watch Out for Phishing and Social Engineering – Remind your members to be cautious of hyperlinks or text messages from unknown sources. Also, share resources where they can verify the legitimacy of job postings, charities and donation platforms. Consider providing some examples of common scams so your members know what to look for before sharing personal information or donating their hard-earned money.
2. Stay Alert with Scam Merchants – Share information about the many account security measures available to members year-round across all communication channels, including social media. Encourage your members to enable multifactor authentication for account logins and to sign up for real-time account activity alerts. This way, they’ll be notified of any unauthorized purchases right away.
3. Be Smart with Holiday Travel Bookings – With increased travel during the holidays, remind your members to use reputable and verified travel booking websites. Encourage them to steer clear of any “too good to be true” ads on social media or from sponsored search results.
4. Beware of Malicious Holiday Apps – That “fun” sleigh-tracking app could open the door for fraudsters. Warn your members about potential fake holiday apps in app stores that could contain malware. Advise them to research and vet apps before downloading. It’s also a good opportunity to post a reminder about the importance of keeping all device software and security patches up-to-date.
5. Keep Payment Cards Safe in Crowds – With the focus on cyber security, don’t forget about basic theft. Encourage your members to keep their wallets and payment cards secure, especially in crowded areas. Reminders to watch out for suspicious activity at ATMs or POS terminals to prevent card skimming can also be helpful this time of year.

Hopefully, by educating your members on fraud prevention, you can help keep your members safe and stress-free as they celebrate this holiday season. To learn more about the latest fraud prevention and tips, access Visa’s 2024 Holiday Threats Report here.