Get Started Now! Get Your Credit Repair Do It Yourself!!

5 ways to commit fraud during the holidays – Tech

Black Friday and the holiday season will bring more fraud attempts – Here’s how to protect yourself

San Jose, California., November 25, 2020 / PRNewswire / – main characteristics:

  • The epidemic is driving holiday shoppers online making them more attractive targets for fraud and scams targeting consumers.
  • Of FICO Liz lasser is Five top tips for consumers To avoid fraud during the holiday shopping period of 2020.
  • Find out what banks are doing to protect consumers from fraud from these holidays.
  • Start a conversation with Liz on Twitter @LizFightsFraud About fraud or our suggestions.

You probably have enough stress in 2020 as we move into the holiday season. But wait — another ditch has been thrown into this challenging year! Fraud has spread during the epidemic, with criminals dropping their game as consumers swing into holiday shopping mode. Read on for five powerful fraud-fighting tips to help you get out of the DDLR of 2020 and end the year with a little less stress!

more information:

Like COVID, Fraud is Rampant

The problem of fraud has gone viral – consumers have filed More than 130,000 reports of fraud and lost to the FTC $ 182 million For these activities during the epidemic. UK Finance reported over £ 27 million was lost to fraud in the first half of 2020 on online marketplaces and auction websites. Just as COVID has dramatically affected our shopping habits, it also affects our financial security.

With this in mind, there are tasks you can do right now to protect yourself from fraud and identity theft.

It pays to protect itself

“When it comes to financial fraud, such as account acquisition, banks are on your side,” said Liz lasser, Fraud at FICO, Vice President of Financial Crime and Cyber ​​Risk Portfolio Marketing. “However, prevention is important, especially when it comes to identity theft, because Cleanliness can be very difficult and messy, And Recovery of stolen funds Can be a tedious, months-long process.

“Credit card fraud is resolved more quickly, but you may still have to go through the hassle of declining transactions and getting upset. Filing a fraud claim With your bank or card provider. At the other end of the spectrum, Scam, or industry calls it ‘authorized push payment fraud’ There can be painful, long-term effects. This is when you, the consumer, approve the transaction, and you are most often liable for payment. In this instance, banks will not always foot the bill of damages.

“To reduce your risk of falling prey to one of these crimes, here are my five top tips to protect yourself from fraud this holiday season.”

Tip # 1: Revisit your password habits

We all know the concept of strong passwords, which includes lowercase letters, capitals, numbers and symbols. But let me challenge you to change your thinking, because it turns out that long passwords are more important than strong passwords. The length and strength of a password, combined, is the strongest barrier for a hacker to crack your password with brute-force computing power.

It is also important that a unique password is used for each of your accounts, especially important – not only bank and brokerage accounts, but PayPal, Gmail and Amazon, everything! I cannot overestimate the effectiveness – and elegant simplicity – of browse-based password managers that randomly suggest long, strong passwords, and can manage them for you.

Tip # 2: Take advantage of authentication features

I recommend using any additional authentication capabilities offered by the apps and websites you visit frequently; They have a second layer of protection to ensure that you are indeed you. The easiest type to use is a one-time passcode, which can be texted or emailed to you.

Face biometrics are becoming increasingly popular, especially for banking and financial apps. If an app has Face Biometrics capability (eg Face ID on iPhone), use it. You can see someone who thinks that you should not use facial authentication because then the government will have your picture and personal information. It was a matter of Recent mem, The punch line from which said, ‘Wait till [this guy] Finds out about driver license. ‘Very ridiculous, but in all seriousness, facial biometrics and voice biometric authentication is a growing part of a multi-pronged approach to increasing security around your accounts.

Tip # 3: Use reliable payment methods

The new payment applications are cool, but be careful. Do your research, read reviews, and watch Google carefully to see if the app is a scam. If in doubt, use ApplePay, PayPal or any other payment app you know and trust.

If you are sending cash from your online or mobile banking app, and you need to send money to a new recipient, do a test transaction with a small amount of money and ask the person to confirm that they have it have got it. I did this the other day when I was paying someone to inspect my house for termites. he was the one $ 100 Inspection, but I was worried that I would type the wrong phone number and send it $ 100 For the wrong person. We a $ 1 Simultaneous test transactions to ensure that his information is correct.

Tip # 4: Be suspicious

It is the season of giving — during an epidemic — that multiplies your attempts to scam for fraudsters. although GoFundMe tells “The majority of fundraisers on our platform are safe and legitimate,” There are scams And many other places. Unfortunately, not every scam is identified and prosecuted; Unless you personally know a person or family benefits from a contribution, or can verify that the recipient is identified and needed, think twice (rigorously) before donating.

To protect yourself from donations and disaster fraud (such as the relief money that comes spring after a storm and wildfire), make sure the donation website is legitimate. It is much easier for criminals to create websites that snatch credit cards and personal information, which can then be used quickly to drive fraudulent transactions. FBI has a very useful tip sheet To help you spot fake charity and disaster sites.

Tip # 5: Monitor Your Credit Report

Everyone — and I mean everyone — wants to monitor their credit report. A proxy not only for staying informed about credit history, but also for early signs of fraud such as identity theft. If you have young children, or care for elderly members of your family, or do not need credit yourself anytime soon, you may also consider freezing your credit. This will also freeze all accounts associated with your identity.

At the very least, periodically reviewing credit reports will help you find out if something strange or unexpected is happening. Identity theft or credit misuse in the bud can help protect you from losing a few dollars or a large amount, as well as rebuilding your credit health.

Want to see what banks are doing to keep you safe? View this blog post Out of Sight: How Banks Protect Consumers from Credit Card Fraud.

Question or comment on my fraud fighting tips for this holiday season Tweet me on Twitter @LizFightsFraud.

About FICO
FICO (NYSE: FICO) decisions are decisions that help enrich people and businesses around the world. Founded in 1956 and based in Silicon Valley, the company is a leader in the use of predictive analytics and data science to improve operational decisions. FICO has more than 195 US and foreign patents that enhance profitability, customer satisfaction, and growth for businesses in the financial services, telecommunications, healthcare, retail and many other industries. Using FICO solutions, businesses in more than 100 countries protect 2.6 billion payment cards from fraud, helping people obtain credit, to ensure that millions of airplanes and rental cars Are in the right place at the right time.

Learn more

FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.

Photo –
Logo –

Content is by PR Newswire. Tech Media is not responsible for the content provided or any link related to this content. Tech Media is not responsible for the accuracy, timeliness or quality of content.

Source: on 2020-11-25 11:07:30

Read More At Source Site

Add a Comment

Your email address will not be published. Required fields are marked *

72 − 63 =