With the holiday season now under way, Visa, the global leader in digital payments, has told shoppers to stay vigilant amid a rise in fraud schemes.
Visa’s Payment Ecosystem Risk and Control (PERC) team released the 2024 Holiday Threats Report, outlining common methods fraudsters use to steal money, data, and account details while people plan their festivities. This report identifies four common ‘Top Holiday Shopping Scams’ people should be aware of and also outlines precautions a person could take. The first is Phishing and Social Engineering.
Visa said that scammers impersonate trusted sources to steal personal information through emails, texts, and calls.
“Consumers should be wary of common scams to obtain financial details, including emails/texts about fraudulent Black Friday deals, travel discounts, and package delivery updates. They also orchestrate more sophisticated frauds such as digital arrests where one is held to ransom through their phone on false pretexts that can be very harrowing for the lay consumer.”
Fraudsters also use real platforms to post fake job ads and demand payments for false expenses such as background checks. Consumers should also be careful before donating to charities they don’t know.
The second identified by Visa is Scam Websites. “Fake online stores and imitations of real brands are a growing threat in ecommerce,” says Visa.
“Such sites have increased with scammers building almost legitimate looking websites, and using search engines and social media ads to attract buyers with unrealistic deals on luxury or popular items, with no delivery of goods.”
“Consequently, victims could either lose money or share sensitive information that fraudsters use for other nefarious activities.”
Travel Scams have also been identified by Visa during the holiday season as many fraudulent travel websites are positioned as authentic and appealing, with deals like “last minute price drop”.
Scammers make these websites as close to real and offer discounts on travel-related expenses such as flights, taxis and hotels.
“Consumers may also receive phishing emails with fake flight cancellation notices and be asked to pay for rebooking, or see advertisements with fake vacation rentals at low prices, that collect deposits for non-existent properties.” Consumers should steer clear of malicious festival-based apps such as Santa Trackers or holiday planners that are loaded with malware. These apps can steal login and payment details when downloaded.
Visa says people should always be vigilant in busy malls and public spaces that are hotspots for thieves as Theft and Skimming can happen.
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Common risks include physical theft or pick pocketing of cards and wallets. Beware of skimming devices fitted on legitimate ATMs or payment terminals to collect card information; always choose to tap and pay where possible.
Visa offers these tips to protect people during the holiday season.
How you can stay safe
• Don’t click on links in unsolicited/unknown emails or texts.
• Check websites for legitimacy before making purchases. Genuine URLs will ideally start with “https://”.
• Use only trusted platforms or agents for travel bookings.
• Keep wallets and devices secure in crowded places.
• Report suspicious activity at ATMs or payment terminals immediately to the nearest authority.
