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With the holiday season comes additional shopping both in-person and online. This can put you at an elevated risk of fraud. In 2022, U.S. consumers lost nearly $9 billion due to fraud¹, an increase of more than 30 percent from a year earlier. Imposter scams and online shopping fraud continue to be the most common types. In this season of giving, here are a few tips to ensure you’re not giving yourself up to fraud.

1. Monitor your accounts

The easiest way to keep your finances safe is to keep an eye on your accounts.

• Check your bank account once a day to monitor and verify transactions.

• Turn your debit card off if you suspect fraud or if you lost your card.

• Use the tools available to you in mobile banking such as setting spending limits and turning banking alerts on.

2. Be safe when shopping online

While many online shopping sites offer secure payments and buyer protection, fraudsters will still try to access your accounts through locations where you may have your card numbers stored.

• Don’t use obvious passwords such as your birthday or anniversary, your mother’s maiden name or the last four digits of your Social Security number.

• Never click on links sent in unsolicited emails. Instead, type the address into your internet browser or copy and paste the URL.

• Don’t do your online shopping on public Wi-Fi as it’s typically not secure.

3. Protect your identity

Today’s fraudsters use social engineering to learn more about you, which makes protecting your identity critical.

• Update your privacy settings on social media to limit what people you’re not friends with can see.

• Make sure your phone has a password to protect any sensitive information it may contain.

• Keep your phone and computer operating systems up to date.

4. Watch for scams

Scams are common during the holiday season as fraudsters take advantage of people’s kindness.

• Beware of emails that ask for account information and passwords. Avoid clicking links from unknown senders.

• Robocalls pretending to be from credit card companies and retailers are on the rise. Don’t provide personal info over the phone.

• Watch out for scam text messages that claim to be from a business.

When it comes to avoiding fraud during the holiday season, prevention is key. Simply keeping an eye on your accounts and being careful when shopping online can help keep your finances safe.

To learn more about staying protected, visit our security center for information on common scams, as well as additional tips and resources.