Holiday Fraud Tips
As we approach the peak of the holiday season, credit union members will be using a variety of payment methods for their shopping activities. Member education and awareness is so important during the shopping season – as so many individuals face financial difficulties in these economic times. By sharing these tips with your members, you can help protect them from becoming fraud victims this holiday season.
Holiday Fraud Prevention Tips for Credit Union Members
- Ensure that receipts reflect the correct transaction amount
- When performing a PIN transactions, ensure others are not capturing your PIN number
- When using a debit card, you may select “credit”, which requires a signature and extends the $0 member liability under the Visa / MasterCard association rules
- Review all accounts (checking, savings, credit card) activity daily
- Lower your credit line limit during the holidays
- When paper checks are converted at a merchant to an ACH, store voided checks safely to prevent counterfeit checks or unauthorized ACH transactions
- Be suspicious of emails from unknown parties; don’t open the email or click any links within them
- Access your credit union’s authorized website by typing the website into the address bar of web browser to avoid “spoofed” websites attempting to steal your information
- Shop online with trustworthy merchants who require security information such as address verification and the CVV2/CVC2 number on the back of your card
- When shopping in person or using an ATM, be aware of your surroundings and report any unusual activities to your credit union
- Never leave your purse, wallet, or cards unattended
- And finally, if an offer seems too good to be true, it probably is, so be cautious
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