Beware Romance Scams

With COVID-19 forcing more singles to meet and date online, America’s most expensive scam is on the rise. Romance scams are all over the internet and can be difficult to spot  While the data for 2020 is not yet available, according to the FTC, Americans lost a collective $201 million to romance scams in 2019.

Don’t be the next victim of a romance scam! Here’s all you need to know:

How the scam plays out

In a romance ruse, a scammer will create a bogus online profile and attempt to connect to singles on dating apps and websites, as well as through social media platforms. After a connection is formed, the scammer will work to build up the relationship with the victim, calling and texting often. Once the scammer has gained the victim’s trust, the scammer will spin a sorry story and ask the victim for money.

The scammer may explain that they cannot meet in person because they are currently living or traveling outside the United States. They’ll claim to be a doctor working for an international organization, a blue-collar worker in the middle of a construction project or to be part of the military and currently serving overseas. They may ask for money to help cover travel expenses, pay for medical treatment, cover customs fees at the airport or to pay for a visa or other official travel documents.

The scammer will ask for payment via wire transfer or prepaid debit card. Once they’ve received the funds, they will disappear. Alternatively, the scammer will ask their “date” to share personal financial information and then go on to empty the victim’s accounts.

How to spot a romance scam

If you’re in the market for a new date and you’re hoping to meet someone online, look out for these red flags:

Profile is too good to be true. If a single’s profile has unrealistic credentials, including a magazine-worthy photo, you’re likely looking at a scam.
Single rushes into the relationship. If the contact comes on too strong, too fast, it may be a scam.

Single asks you for money. Don’t believe a money-starved story of someone you just met online, especially if they start asking you to help them out.

How to play it safe online

Avoid falling victim to romance scams and similar ruses by following basic online safety rules.

First, never share personal details online with anyone whose identity you cannot verify. This includes all financial information, credit card details and personal information that can be used to unlock a password on any of your accounts.

Second, only visit secure sites and keep all the settings on your social media pages private. Never engage in conversation with a stranger who reaches out to you on a platform you’ve just begun using, or who sends you personal texts or emails you without any prior communication.

It’s equally important never to send money to anyone online.

If you suspect a romance scam

If you believe you’ve been targeted by a romance scam, take these steps to avoid further damage:

Research the name on the profile to see if the details check out. You can also use an online background checking tool, such as BeenVerified or TruthFinder, to verify the credibility of the profile.

Do a reverse-image search of the profile picture to see if it’s a stock photo or an image that was plucked off the internet. You can also ask the contact to share a current photo of themselves.

If your research confirms your suspicions, stop all communication with the scammer immediately. Block the scammer’s number and flag their emails as spam. If you’ve already paid a romance scammer with a prepaid gift card, call the company that issued the card to ask them to refund your money.

Report the scam to the FTC. It’s also a good idea to alert the website or app that the scammer is using. You may also consider warning your friends about the scam.

Follow the tips outlined above to keep your love life scam-free.

Your Turn: Have you been targeted by a romance scam? Tell us about it in the comments.

Learn More:
consumer.ftc.gov
romancescams.org
fbi.gov

Don’t Fall Prey to a Holiday Toy Scam

He’s making his list and checking it twice. Unfortunately, though, the scammers making the list aren’t being so nice.

Scammers famously exploit high-stress times, and the pre-holiday shopping frenzy is no exception. That’s why the BBB is warning of an uptick in holiday toy scams which can be difficult to spot.

Here’s what you need to know about these scams.

How the scam plays out

Every year, there are a few must-have toys that make it onto most kids’ wish lists (this year’s most popular toys include a realistic toy dog and an animatronic baby Yoda). These choice picks become the hottest-selling items online and in stores, getting plucked off shelves in a wink. Unfortunately, for anyone who didn’t shop early enough, these toys soon become more difficult to find than toilet paper at the height of the COVID shutdown. The parents search desperately, ready to pay almost any price to make their child’s wish come true, to no avail.

Here’s where the scammer steps in. Armed with a bogus website and some crafty online tracking, the scammer targets the vulnerable shopper with ads and online messages to draw them to the scammers site. On the authentic-looking site, the shopper finally finds what they were looking for — the sought-after toy! Often, the toy is even deeply discounted. The purchase is completed within minutes, but sadly, the shopper’s child will not be unwrapping the much-desired toy on Christmas.

Instead, the scammer will send a cheap knockoff that doesn’t work or quickly breaks. When contacted for a refund, the scammer will either be AWOL, refuse to provide a refund or only offer to refund a small percentage of the purchase price. Sometimes, they’ll also charge an exorbitant amount of money for shipping the toy back to the company, almost making the small refund not worthwhile.

As one shopper told the BBB, she believed she’d ordered a high-quality animatronic puppy that would move and act like a real little dog.

“I wanted to get it for one of my great granddaughters,” she said. “When I received the dog in the mail, it was a small stuffed animal that you could get out of a machine at an arcade.”

Another customer paid $59.99 for a Baby Yoda toy that turned out to be nothing like it was advertised.

“It was supposed to be animated and make sounds,” the customer reports. “When I finally got it, it [was] an ugly plastic hand puppet.”

After contacting the seller for a refund, the customer was instructed to send the toy back and pay for shipping to the tune of $20 — all for a $10 refund.

Red flags

Don’t be the next victim of a holiday toy scam!

Here’s how to spot these scams:

  • The seller has a large supply of toys that are in extremely high demand.
  • The website is not secure.
  • The seller is offering a steep discount due to a “flash sale” or “last-minute” deal.
  • The seller’s website is full of spelling and/or grammatical errors.

Stay safe

Keep yourself safe when shopping online by following these tips:

  • Research before you buy. Don’t purchase an expensive item from a company you’ve never heard of before without doing some digging. Feed the company name to Google and see what the search engine has to say about it. Look up the business on the BBB website. You can also try calling the customer-service number on the website to verify the legitimacy of the company.
  • Only visit secure sites. Always look for the lock icon and the “s” after the “http” on the URL of a site to check if it’s secure.
  • Pay with credit. Paying for a purchase with a credit card will offer the buyer purchase protection and an easier time backing out of the transaction if it doesn’t turn out as expected.
  • Update your security software. For the best protection against scams, your computer should be using the most updated version of its security software
    If you believe you’ve been targeted by a holiday toy scam, end all contact with the seller immediately. Alert the BBB and let your friends know about the circulating scam as well.

Shop safely this holiday season!

Your Turn: Have you been targeted by a holiday toy scam? Tell us about it in the comments.

Learn More:
scamicide.com
wkrg.com
bbb.org
lpheralddispatch.com

5 Steps to Take After Being Hacked

Uh oh — you’ve been hacked! Finding out someone has cracked open your accounts and helped themselves to your information can be alarming, but there are ways to mitigate the damage while jump-starting your recovery process.

Here are five steps to take after being hacked.

Step 1: Assess the damage

First, take a step back and determine how much damage was done. Unfortunately, one hacked password can often be the gateway to multiple hacked accounts and even complete identity theft. This is especially true if you use the same password for several accounts, or use the hacked account or device for password recovery on other accounts. So, first things first: Review your credit card and account statements for any suspicious activity.  Also, try accessing your email, social media accounts and mobile devices to see if they’ve been hacked.

Step 2: Change your passwords

Once you know which accounts and devices have been hacked, change the passwords and PINs on these accounts. For an added measure of protection, it’s a good idea to change the passwords on all of your accounts that may hold sensitive information. Remember to choose strong, unique passwords for every account. A strong password uses a combination of letters, numbers and symbols; varies the use of capital letters; and does not use a piece of personal information that can easily be scraped off the internet, such as your date of birth or home address. You may want to use a password service like LastPass  or  StickyPassword to make this step easier.

While completing this step, consider signing up for two-factor authentication for any accounts that do not already have it in place.

Step 3: Protect your credit

Now that you’ve blocked the hacker(s) from your accounts, it’s time for damage control.

First, dispute any fraudulent charges on your compromised account(s). If necessary, have the account(s) locked, or even shut and/or deleted.

Next, place a fraud alert on your credit reports. This serves as a red flag to potential lenders and creditors, making it more difficult for the scammer to open up additional lines of credit or to take out a loan in your name.

Consider a credit freeze as well. This blocks potential lenders from accessing your credit report, making it impossible for the hacker to open new credit accounts in your name.

Step 4: Alert the authorities

You can alert the Federal Trade Commission (FTC) about a possible or confirmed identity theft at identitytheft.gov.  You’ll also find a detailed recovery plan on the site to help you repair your credit and reclaim your identity.

Hacking is usually done remotely, but it’s still a good idea to let your local law enforcement agencies know about the breach. This way, they can be on the alert if the hacker decides to assume your identity and use your credit cards in stores near your hometown.

Also, if you haven’t already done so, don’t forget to let Advantage One Credit Union know what’s happened! Whether it’s a credit card that’s been stolen, a checking account that’s been breached or a social media account that’s been broken into, we’ll do all we can to protect your accounts. If you’ve been hacked, give us a call at 734-676-7000 to see how we can help.

Step 5: Proceed with caution

Once you’ve taken all necessary steps toward damage control and mitigation, you can start thinking about the future.

It’s important to keep a close eye on your accounts for the next month. Look out for any suspicious activity on all accounts, including charges you don’t recall making, large withdrawals of cash and even new loans being opened in your name. If you find any fraudulent activity, be sure to let the account holders know and to follow the steps suggested above.

If you’ve opted to go with a credit freeze, it will generally lapse after 90 days. If your accounts are determined to be safe, consider opening new lines of credit now to jump-start the recovery of your credit health.

If the hacker went all out and stole your identity, it’s best to follow the recovery plan outlined by the FTC . This plan may include replacing your Social Security number, driver’s license and more.

Getting hacked is never fun, but taking immediate and decisive action can help mitigate the damage, as well as speed up the recovery process.

Your Turn: How have you dealt with your accounts being hacked? Tell us about it in the comments.

Learn More:
allthingssecured.com
digitalguardian.com

Beware of Zoom-bombers

Young man on laptop interrupting a video conferenceWith social distancing mandates in order until at least the end of April, and three out of every four Americans under statewide lock-down, huge parts of normal life have now moved into the virtual world.

Social visits, executive meetings, classes and more happen over videoconferencing apps, with Zoom being the most popular. The app was downloaded 62 million times during the third week of March, and 60 percent of Fortune 500 companies are now using Zoom.

Zoom’s simplicity is likely the driving factor behind its popularity — and its vulnerability. The FBI is warning of a new kind of scam in which criminals join Zoom meetings with malicious intent.

As they explain it, without protective measures, like passwords and screen-share locks, anyone can join and disrupt a Zoom conference. “Zoom-bombing” is happening more and more often, with hackers hurling racial slurs or displaying graphic content in the middle of classrooms and business meetings.

Some criminals take it one step further by creating bogus domains that impersonate Zoom. When video conferences are set up on these domains, the hackers will use the opportunity to steal personal information from meeting participants, which they then go on to sell or use for criminal purposes.

The bureau recommends that Zoom users take the following precautions to protect their conferences from being Zoom-bombed:

  • Make meetings private by requiring a password or using the waiting room feature, which controls admittance of guests.
  • Share teleconference links directly with participants instead of posting them in a public forum, like a social media page.
  • Control screen-sharing by choosing “Host Only” in the screen-sharing options.
  • Make sure all participants are using updated software

Videoconferencing apps like Zoom are helping millions of Americans maintain a semblance of normalcy during the COVID-19 pandemic. Follow the FBI’s guidelines for secure videoconferencing to avoid getting Zoom-bombed. Stay safe!

Beware of Coronavirus Scams

Man staring menacingly at camera while wearing a medical maskScammers are notorious for capitalizing on fear, and the coronavirus outbreak is no exception. Showing an appalling lack of the most basic morals, scammers have set up fake websites, bogus funding collections and more in an effort to trick the fearful and unsuspecting out of their money.

The World Health Organization (WHO) has published on its website a warning against email scams connected to the coronavirus. The agency claims it has received reports from around the world about phishing attempts mentioning coronavirus on an almost daily basis.

Closer to home, the Federal Trade Commission (FTC) is warning against a surge in coronavirus scams, which are being executed with surprising sophistication, so they may be difficult for even the keenest of eyes to spot.

The best weapons against these scams are awareness and education. When people know about circulating scams and how to identify them, they’re already several steps ahead of the scammers. Here’s all you need to know about coronavirus-related scams.

How the scams play out
There are several scams exploiting the fear and uncertainty surrounding the virus. Here are some of the most prevalent:

The fake funding scam
In this scam, victims receive bogus emails, text messages or social media posts asking them to donate money to a research team that is supposedly on the verge of developing a drug to treat COVID-19. Others claim they are nearing a vaccine for immunizing the population against the virus. There have also been ads circulating on the internet with similar requests. Unfortunately, nearly all of these are fakes, and any money donated to these “funds” will help line the scammers’ pockets.

The bogus health agency
There is so much conflicting information on the coronavirus that it’s really a no-brainer that scammers are exploiting the confusion. Scammers are sending out alerts appearing to be from the Centers for Disease Control and Prevention (CDC) or the WHO; however, they’re actually created by the scammers. These emails sport the logo of the agencies that allegedly sent them, and the URL is similar to those of the agencies as well. Some scammers will even invent their own “health agency,” such as “The Health Department,” taking care to evoke authenticity with bogus contact information and logos.

Victims who don’t know better will believe these missives are sent by legitimate agencies. While some of these emails and posts may actually provide useful information, they often also spread misinformation to promote fear-mongering, such as nonexistent local diagnoses of the virus. Even worse, they infect the victims’ computers with malware which is then used to scrape personal information off the infected devices.

The phony purchase order
Scammers are hacking the computer systems at medical treatment centers and obtaining information about outstanding orders for face masks and other supplies. The scammers then send the buyer a phony purchase order listing the requested supplies and asking for payment. The employee at the treatment center wires payment directly into the scammer’s account. Unfortunately, they’ll have to pay the bill again when contacted by the legitimate supplier.

Preventing scams
Basic preventative measures can keep scammers from making you their next target.

As always, it’s important to keep the anti-malware and antivirus software on your computer up to date, and to strengthen the security settings on all of your devices.
Practice responsible browsing when online. Never download an attachment from an unknown source or click on links embedded in an email or social media post from an unknown individual. Don’t share sensitive information online, either. If you’re unsure about a website’s authenticity, check the URL and look for the lock icon and the “s” after the “http” indicating the site is secure.

Finally, it’s a good idea to stay updated on the latest news about the coronavirus to avoid falling prey to misinformation. Check the actual CDC and WHO websites for the latest updates. You can donate funds toward research on these sites as well.

Spotting the scams
Scammers give themselves away when they ask for payment via specific means, including a wire transfer or prepaid gift card. Scams are also easily spotted by claims of urgency, such as “Act now!” Another giveaway is poor writing skills, including grammatical errors, awkward syntax and misspelled words. In the coronavirus scams, “Breaking information” alerts appearing to be from health agencies are another sign of a scam.

You can keep yourself safe from the coronavirus by practicing good hygiene habits and avoid coronavirus scams by practicing healthy internet usage. Keep yourself in the know about the latest developments.

Your Turn:
Have you been targeted by a coronavirus scam? Tell us about it in the comments.

Learn More:
consumer.ftc.gov
wsj.com
blog.malwarebytes.com

8 Things To Do If Your Identity Is Stolen

Here are eight important actions you can take if you ever become the victim of identity theft.

  • Lock the compromised account.
    • Dispute any fraudulent charges on your compromised accounts and ask to have them locked, or even shut down.
  • Older man looking concerned as he browses files on his laptopPlace a fraud alert on your credit reports.
    • This helps alert creditors that someone may be trying to open accounts in your name.
  • Consider a credit freeze.
    • This will make it impossible for the scammer to open a credit line or loan in your name.
  • Alert the FTC.
  • Strengthen your passwords.
    • In addition to changing them, use strong and different passwords for all your online accounts.
  • Check your account statements.
    • It’s best to do so frequently to look for suspicious activity.
  • Open new credit cards and accounts.
    • Replace compromised accounts that you’ve shut down so you can be inconvenienced as little as possible.
  • Repair your credit.
    • Be extra careful about paying your bills on time and keeping your credit utilization low.

Your Turn:
Have you ever been the victim of credit card fraud? Share your story with us in the comments.

Simple tips for protecting your parents from financial fraud

daughter helping elderly father check his account onlineAccording to the Federal Trade Commission, older adults are disproportionately affected by fraud.

Whether it’s a phony phone call, phishing scam, or mail fraud, seniors often become targets for scammers who perceive them as easy marks.

While you alone can’t put an end to this shady illegal activity, you can empower you parents with the knowledge to keep themselves—and their finances—safe.

Remind them about “stranger danger”
Your parents probably taught you the concept of “stranger danger” at an early age—and for good reason. Don’t interact with suspicious people. It’s an important lesson that’s relevant to adults as well as children.

If someone you don’t know asks for personal information, it’s probably a scam. Remind your parents to never give out credit card or account information, passwords, or social security numbers unless they can verify the identity of the person or business making the request.

Add their number to the Do Not Call List
When you add your phone number to the The National Do Not Call Registry, the government informs telemarketers not to call you.

Unfortunately, unscrupulous organizations and scammers ignore the registry and may continue to harass your parents, but they should see a reduction in unsolicited calls and text messages from those who abide by the law.

Give them a crash course in online literacy
If your senior parents use technology but aren’t completely familiar with how scams work online, they might not understand what to click and what to avoid.

Spend some time going over how to navigate the internet safely. Most importantly, explain email phishing. Emphasize that they should never click links in unsolicited emails from people or companies they don’t know.

If they use social networks like Facebook, warn them not to share anything too personal as scammers might use this information to impersonate friends or family members online.

Used with permission. © 2019 BALANCE. All rights reserved.

Tax Scams 2019

Each year, the IRS publishes the “Dirty Dozen,” a list of 12 scams that are rampant during that year’s tax season.

This year, the IRS is cautioning taxpayers to be extra vigilant because of a 60% increase in email phishing scams over the past year. This is particularly disheartening, since it comes on the heels of a steady decline in phishing scams over the previous three years.

Typically, an email phishing scam will appear to be from the IRS. Once the victim has opened the email, the scammer will use one of several methods to get at the victim’s personal information, including their financial data, tax details, usernames and passwords. They will then use this information to steal the victim’s identity, empty their accounts or file taxes in the victim’s name and then make off with their refund.

Scammers have several means for fooling victims into handing over their sensitive information. The most popular tax-related phishing scams include the following:

  • Tax transcript scams
    In these scams, victims are conned into opening emails appearing to be from the IRS with important information about their taxes. Unfortunately, these emails are bogus and contain malware.
  • Threatening emails
    Also appearing to be from the IRS, these phony emails will have subject lines like “IRS Important Notice” and will demand immediate payment for unpaid back taxes. When the victim clicks on the embedded link, their device will be infected with malware.
  • Refund rebound
    In this scam, a crook posing as an IRS agent will email a taxpayer and claim the taxpayer was erroneously awarded too large a tax refund. The scammer will demand the immediate return of some of the money via prepaid debit card or wire transfer. Of course, there was no mistake with the victim’s tax refund and any money the victim forwards will be used to line the scammer’s pockets.
  • Phony phone call
    In this highly prevalent scam, a caller spoofs the IRS’s toll-free number and calls a victim, claiming they owe thousands of dollars in back taxes. Those taxes, they are told, must be paid immediately under threat of arrest, deportation or driver’s-license suspension. Obviously, this too is a fraud and the victim is completely innocent.

If you’re targeted
When targeted by any scam, it’s crucial to not engage with the scammer. If your Caller ID announces that the IRS is on the phone, don’t pick up! Even answering the call to tell the scammer to get lost can be enough to mark you as an easy target for future scams. If you accidentally picked up the phone, hang up as quickly as possible.

Similarly, suspicious-looking emails about tax information should not be opened. Mark any bogus tax-related emails that land in your inbox as spam to keep the scammers from trying again.

If you’re targeted by a tax scam, report the incident to help the authorities crack down on these crooks. Forward suspicious tax-related emails to phishing@irs.gov. You can also alert the Federal Trade Commission at FTC.gov.

Protect yourself from tax scams
Stay one step ahead of scammers this tax season by being proactive. Protect yourself with these steps:

File early in the season so scammers have less time to steal your identity, file on your behalf and collect your refund.
Use the strongest security settings for your computer and update them whenever possible.
Use unique and strong passwords for your accounts and credit or debit cards.
Choose two-step authentication when conducting financial transactions online.

Remember, the IRS will never:
Call about taxes owed without having first sent you a bill via snail mail.
Call to demand immediate payment over the phone.
Threaten to have you arrested or deported for failing to pay your taxes.
Require you to use a specific payment method for your taxes.

Ask you to share sensitive information, like a debit card number or checking account number, over the phone.

Be alert and be careful this tax season and those scammers won’t stand a chance!

Your Turn:
Have you ever been targeted by a tax scam? Share your experience with us in the comments.

SOURCES:
https://clark.com/personal-finance-credit/taxes/beware-of-these-common-irs-scams/

https://www.google.com/amp/s/www.forbes.com/sites/kellyphillipserb/2018/12/04/irs-warns-on-surge-of-new-email-phishing-scams/amp/

https://www.businessinsider.com/irs-phone-scam-what-to-do-if-you-get-scam-call-2018-2

Credit Card Fraud In Fives

Businessman enters credit card number on a laptopNo one wants to be the victim of credit fraud. Aside from the stolen money you may never recover, victims of fraud can be faced with an enormous hassle. That hassle involves the closing of accounts, putting a fraud alert on your credit and a huge ding on your credit history, which can be difficult to fix.

Whodunnit? When we’re talking about credit card fraud, everyone’s pointing fingers at everyone else.

Consumers tend to blame the credit card issuer, but the vulnerability usually lies with the point-of-sale terminal. Tampering with a credit card reader takes just a few minutes and can be done with an inexpensive device that’s available on Amazon. In addition, there are lots of other ways your information can be skimmed, none of which point to a security deficiency with your credit union or credit card company.

Thankfully, there are steps you can take to prevent and recognize credit card fraud before it happens. Read on for all you need to know about credit card fraud in 5 lists of fives.

5 ways your card can be frauded

  1. It’s physically lifted from your wallet.
    The old-fashioned pickpocket is still a very real threat. Invest in a secure wallet and/or purse and always keep your card inside.
  2. A restaurant or bar server skims it.
    When you hand over your card to a dishonest server at the end of a meal, you give them a few minutes to skim your card while it’s in their possession.
  3. A terminal you use is compromised.
    Payment terminals can be tampered with and rewired to transmit your information to scammers. This is especially common in pay-at-the-pump gas stations.
  4. An online breach puts your information on the black market.
    After a company you use suffers a breach, your personal information may be up for sale on the dark web.
  5. Your computer’s been hacked.

Once a scammer gets inside your computer, they have full access to all of your sensitive data.

5 signs a terminal’s been compromised

  1. The security seal has been voided.
    Many gas stations have joined the war against credit card crimes by placing a security label across the pump. When the pump is safe to use, the label has a red, blue or black background. When it’s been breached, the words “Void Open” will appear in white.
  2. The card reader is too big for the machine.
    The card reader is created to fit perfectly on top of the machine. If it protrudes past it, it’s likely been tampered with.
  3. The pin pad looks newer than the rest of the machine.
    The entire machine should be in a similar condition.
  4. The pin pad looks raised.
    If the pin pad looks abnormally high compared to the rest of the machine, the card reader may have been fitted with a new pin pad that will record your keystrokes.
  5. The credit card reader is not secured in place.
    If parts of the payment terminal are loose, it’s likely been compromised.

5 times you’re at high risk for credit card fraud

  1. You lost your card.
    If you misplaced your card – even if it was eventually returned to you – there’s a chance your information has been skimmed.
  2. You’re visiting an unfamiliar area.
    When patronizing a business in an unfamiliar neighborhood, you don’t know who you can trust.
  3. A company you use has been breached.
    If a business you frequent has been compromised, carefully monitor your credit for suspicious activity.
  4. You shared your information online with an unverifiable contact.
    If you’ve willingly or unwillingly shared sensitive information online and you’re not certain of the contact’s authenticity, you’ve likely been frauded.
  5. You downloaded something from an unrecognizable source.
    Have you accidentally downloaded an attachment from an unknown source? Then your computer has likely been compromised and you’re at risk for credit card fraud.

5 ways to protect yourself against credit card fraud

  1. Check all card readers for signs of tampering before paying.
  2. Never share your credit card information online unless you’re absolutely sure the website you’re using is authentic and the company behind it is trustworthy.
  3. Check your monthly credit card statements for suspicious activity and review your credit reports on a frequent basis.
  4. Use cash when patronizing a business that’s in an unfamiliar area.
  5. Don’t download any attachments from unknown sources.

5 steps to take if your credit card has been frauded

  1. Lock the compromised account.
    Dispute any fraudulent charges on your compromised accounts and ask to have them locked or completely shut down.
  2. Place a fraud alert on your credit reports.

  3. Consider a credit freeze.
    This will make it impossible for the scammer to open a line of credit in your name.
  4. Alert the FTC.
    Visit identitytheft.gov to report the crime.
  5. Open new accounts.
    Begin restoring your credit with new accounts and lines of credit.

At [credit union], we’ve always got your back! Call, click, or stop by today to ask about steps you can take to protect your information from getting hacked.

Your Turn:
Have you ever been a victim of credit card fraud? Share your story with us in the comments.

SOURCES:

https://www.thebalance.com/how-credit-card-skimming-works-960773

https://www.thebalance.com/more-at-risk-of-credit-card-fraud-960780

https://www.makeuseof.com/tag/credit-card-fraud-works-stay-safe/

http://gizmodo.com/home-depot-was-hit-by-the-same-hack-as-target-1631865043

Why Do I Spend So Much When Shopping Online?

Man opening a package from an online retailerQ: I’m really trying to stick to a budget this holiday season, and I’m doing most of my shopping online. It should be easy to stay on track, so why am I constantly going over budget?

A: Both online and in-store shopping can tempt you to overspend, but the internet is particularly designed to help you lose track of your dollars.

More and more people are choosing to hit the web instead of the mall for holiday shopping. The internet definitely wins for convenience. Since there are no crowded malls, no long lines and no crabby cashiers, it’s much more enjoyable. Plus, you get to shop in your PJs. Can it get better than that?

Shopping the old-fashioned way, though, is not without merit. When purchasing items that need to fit right or that you may need immediately, you might want to head to the mall or local small business. You might even save money that way.

If you choose to do most of your holiday shopping on the internet, though, it’s good to understand why we tend to overspend online.

Why we spend more online
Here are 10 ways online retailers push us to overspend:

1. They push products strategically.
The first few products you’ll see when you visit a retail website aren’t necessarily the hottest-selling items; they’re just the stuff the company needs to get rid of most urgently. Most people, though, will assume the products on the site’s homepage are the most popular and will quickly drop one or two of these items into their cart.

2. They offer free shipping—with a minimum purchase.
Don’t think the retailer is being super-generous when they offer to sponsor the shipping costs if you spend $50 or more. They’re only luring you to spend more. And it works: Most people choose to fill their carts with stuff they don’t need just to avoid paying the shipping fee.

3. They make it super-easy to check out.
Websites make their checkout process ridiculously easy just to keep you buying. If your info’s been saved on the site, you can order your whole cart within minutes. The quicker you make those purchases, the less time you have to rethink them and opt out.

4. They offer spending-based discounts.
Online retailers often offer discounts after you’ve reached a certain spending threshold. Just like the free-shipping minimum, these conditional discounts manipulate you into spending more just to qualify—even if you won’t save any money at the end of the day.

5. They change their prices without rhyme or reason.
Online retailers constantly adjust their prices according to consumer and market behavior. This tactic, known as “dynamic pricing,” is designed to draw you back to the site again and again just to check the going price. It also prompts you to buy before the price rises again.

6. They use anchor pricing.
Retailers want you to believe you’re getting a great deal. They frequently employ “anchor pricing,” or placing items with inflated price tags right next to one you’re looking at now to make your desired item look less costly.

7. Their ads stalk you.
Online retailers target you with ads based on your search history. They know what you’re into and they can even determine your style.

8. They have lenient return policies.
Online retailers purposely have looser return policies than their brick-and-mortar counterparts. They know you’ll consider these policies when making your purchase and that you’re more likely to buy something online if you can easily send it back to the store.

9. They have a virtual checkout aisle.
If you think you’ll save big by shopping online because you won’t be tempted to grab all those goodies that the brick-and-mortar stores have lining their checkout aisles, here’s a reality check: Retailers are smarter than that. They’ve discovered a way to create a virtual checkout aisle, full of last minute add-ons that go well with the stuff you’re buying. It’s all designed to make you drop another item or two into your cart before you realize your total is way above your planned budget.

10. They stay in touch.
That subtle email reminder that you still have items in your cart is really just a nice way of nudging you back into. buying mode. Fact is, it works. When retailers send you emails with headlines that scream about “Today Only!” and “Free Shipping on Every Order,” they get your attention. And your money, too.

Spending less online
Should you ditch the on-the-couch shopping and camp out at the mall until the holidays?

You don’t need to be extreme and do all your shopping IRL this year. By educating yourself about the most common manipulative tactics that online retailers use, you’re already better equipped at handling them. You can also follow these tips to keep your online spending to a minimum:

1. Shop with a list
Yes, just like the one you scribble before heading to the grocery. Don’t just have a look around your favorite sites. Decide what you want and need to purchase before browsing, and do your best to stick to your list.

2. Set a time limit.
When there are no store closing hours to curtail your shopping trip, you can easily lose track of the time, which can trigger overspending. Plus, the internet is designed to keep you engaged, and one click leads to another. Give yourself a reasonable amount of time to shop, and once time’s up, snap your laptop shut.

3. Never pay full price.
Don’t check out without doing a quick search for coupons and discounts on sites like RetailMeNot.com and CouponCabin.com.

4. Don’t twist yourself into a pretzel to qualify for free shipping.
Don’t buy stuff you don’t need just to avoid a dreaded shipping fee.

5. Shop early.
You’ll find it easier to stick to your budget, and to avoid the free shipping trap, when you shop early. Plus, many e-tailers offer free shipping with no strings attached as long as you don’t mind waiting a bit for your stuff to show up.

With awareness and careful planning, you can stick to your budget this holiday season—even when shopping online.

Your Turn:
Do you spend more when shopping online or in-store? Tell us all about it in the comments below.

SOURCES:

https://www.google.com/amp/s/www.cnbc.com/amp/2017/05/18/you-might-be-spending-twice-as-much-money-as-you-think-online-shopping.html

https://www.google.com/amp/s/www.recode.net/platform/amp/2018/6/8/17441288/internet-time-spent-tv-zenith-data-media

https://apparelmag.com/holiday-trend-continues-consumers-will-do-more-shopping-online-vs-store-season

https://www.everydollar.com/blog/online-vs-in-store-shopping

https://www.google.com/amp/s/kdvr.com/2017/12/04/do-you-spend-more-when-shopping-online/amp/

https://www.google.com/amp/s/amp.businessinsider.com/sneaky-ways-online-retailers-get-you-to-spend-more-2016-5