Money Smarts Blog

The holidays are a time for celebration, but it’s also peak season for scams, with fraudsters looking to take advantage of the busy season. This year, we’re noticing an uptick in text message scams and account takeover attempts. Here’s what to watch out for and how you can protect yourself and your loved ones.

1. Smishing (text message scams)

Fraudsters are increasingly targeting people through text messages, a tactic known as “smishing.” They often disguise these messages as urgent notifications about package deliveries, account updates, or suspicious activity. These messages usually contain a link to track a package or resolve an “account issue,” but clicking the link can compromise your personal information.

Protect yourself:

• Avoid clicking links in text messages you didn’t request, particularly if the message seems urgent or unexpected.
• Verify directly with the company through their official website or customer service, instead of using the link in the message.
• Enable spam filters in your mobile carrier’s settings to help block unwanted messages.

2. Package delivery scams

As online shopping grows, scammers are sending fake notifications from carriers like FedEx, UPS, or USPS. These messages may ask delivery fees or account information, but they’re actually phishing attempts meant to steal your personal information or install malware.

Protect yourself:

• Only track packages through official carrier websites or their apps.
• Be wary of messages that ask for immediate action or personal information.
• Report suspicious texts or emails directly to your carrier or the FTC.

3. Account takeover attempts

Account takeovers happen when a fraudster gains access to your accounts, often through stolen login credentials. During the holiday season, scammers try to access accounts to make fraudulent purchases or gain information about you.

Protect yourself:

• Enable multi-factor authentication (MFA) on all financial and shopping accounts.
• Use unique passwords for each account and consider using a password manager to keep them secure.
• Monitor your accounts for unusual activity and notify your financial institution if anything looks suspicious.

4. Charity and holiday-themed phishing scams

Scammers often exploit the goodwill of the season, pretending to be legitimate charities or retailers. You might receive emails, texts, or even calls asking for donations or offering incredible “holiday deals.” These messages may include links to fake websites designed to capture your personal or payment information.

Protect yourself:

• Research charities before donating, using trusted sites like CharityNavigator.org.
• Avoid clicking on links in unsolicited messages; go directly to official websites instead.
• Be cautious of “too-good-to-be-true” deals, especially from unknown websites.

Your security matters to us

At IHMVCU, we’re committed to helping you stay safe. If you receive a suspicious message or notice unusual account activity, please reach out to us right away. Wishing you a secure and joyful holiday season from all of us!