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The holiday season brings joy, celebration, and unfortunately, increased cybercrime activity. According to the U.S. Department of the Treasury's Office of Cybersecurity and Critical Infrastructure Protection, cybercrime losses exceeded $12.5 billion in 2023, representing a 22% increase from the previous year. As holiday shopping reaches its peak, cybercriminals are working overtime to exploit unsuspecting consumers.

The Rising Threat of Holiday Cybercrime

Scammers deliberately target the holiday season when people are making numerous online purchases, often in a hurry, and may be less vigilant about security. They exploit multiple platforms including social media sites like LinkedIn, TikTok, and Instagram, as well as traditional methods like phone calls, emails, and even "wrong number" text messages.

10 Essential Security Practices

1. Verify Before You Trust If you receive an urgent notification about an account problem, resist the impulse to respond immediately. Instead, hang up and contact the organization directly using official contact information from their app, website, or the back of your card.

2. Strengthen Your Digital Defenses Use strong, unique passwords for each account and enable two-factor authentication (2FA) wherever possible. Keep all software updated and consider using a VPN when shopping or browsing online for an additional security layer.

3. Treat Unsolicited Contact with Suspicion Never respond to unsolicited requests for personal or financial information, whether they come via phone, email, or text. Even if a message appears official, verify its legitimacy by contacting the organization directly through official channels.

4. Navigate Directly to Websites Type website URLs directly into your browser rather than clicking links in emails or messages. This simple practice can prevent you from landing on convincing fake websites designed to steal your information.

5. Always Initiate Contact Take control by reaching out to businesses or institutions yourself using verified contact information. Never use phone numbers or links provided in unsolicited messages.

6. Ignore Urgent Link Requests If someone contacts you urgently asking you to click a link or call a specific number, disconnect immediately and contact the organization through official channels.

7. Don't Trust Caller ID Scammers can easily spoof phone numbers to make calls appear legitimate. Always verify by hanging up and calling back using a number from the official website.

8. Guard Your Sensitive Information Never share account credentials, passwords, or Social Security numbers over the phone or online unless you initiated the contact and verified the recipient's identity.

9. Be Mindful of Your Digital Footprint Limit what you share on social media platforms. Oversharing personal details can provide scammers with information they can use against you.

10. Shop with Reputable Merchants Stick to well-established retailers and never provide personal or account information to anyone who calls you unsolicited.

Watch Out for These Dangerous Words

Email security platform ZeroBounce has identified the most dangerous words that cybercriminals use in scam emails to lure victims:

1. Income
2. Investment
3. Credit
4. Billion
5. Free

If you receive unsolicited emails containing these high-impact words, approach them with extreme caution. Scammers strategically use these terms to increase click-through rates and trick victims into sharing personal information or clicking malicious links.

Common Holiday Scams

Gift Scams: Fake ads for popular or sold-out items at unrealistic prices. Remember: if a deal seems too good to be true, it probably is.

Vishing, Phishing, Quishing & Smishing: Fraudulent phone calls, texts, fake QR codes, and emails impersonating trusted entities. Never click links, respond to unsolicited messages, or scan unsolicited QR codes.

Holiday Employment Scams: Fake job offers requesting sensitive information or payment for background checks. Only apply through verified employers.

Social Media Scams: Fraudulent products advertised through social media. Always research sellers and read reviews before purchasing.

Charity Scams: Fake charities exploiting holiday generosity. Verify charitable organizations before donating.

Steps to Take If You've Been Scammed

If you suspect you've fallen victim to a scam, act quickly:

1. Contact the Merchant: Report the issue immediately to potentially freeze fraudulent accounts or resolve the problem.

2. Alert Your Credit Card Issuer: Report fraudulent transactions and request a chargeback.

3. File with the FBI's IC3: Report the incident at www.ic3.gov for investigation.

4. Place a Fraud Alert: Contact Equifax, Experian, or TransUnion to place a fraud alert on your credit report.

5. Consider a Credit Freeze: If your personal data is compromised, freezing your credit prevents new accounts from being opened in your name. You can contact the three major credit bureaus directly to freeze and unfreeze your credit at your discretion.

6. Report to the FTC: File a report at https://reportfraud.ftc.gov to help authorities investigate and prosecute scammers.

Additional Prevention Tips

• Enable 2FA on all accounts to add an extra security layer
• Use credit cards for online purchases for better fraud protection with zero liability policies
• Monitor your financial statements regularly, especially after online purchases
• Never pay with gift cards when requested by strangers or for goods and services
• Stay skeptical of urgent requests and pressure tactics like "limited-time offers"
• Research before purchasing and don't let urgency cloud your judgment

Final Thoughts

The holiday season should be filled with joy, not stress over cybercrime. By staying informed about common scams, practicing safe online behaviors, and maintaining healthy skepticism toward unsolicited contact, you can protect yourself and your loved ones. Take your time with transactions, verify before you trust, and remember that legitimate organizations will never pressure you into immediate action or request sensitive information through unsolicited contact.

For more information and to test your knowledge with a scams quiz, visit banksneveraskthat.com.

Download the complete U.S. Department of Treasury guide (PDF) for detailed information and share it with family and friends to help keep everyone safe this holiday season.

Stay safe and happy holidays!