As the holiday season approaches, so does a surge in fraudulent activity. With millions of Americans shopping online, donating to charities, and traveling, scammers are ramping up efforts to exploit the festive spirit. At Cadence Bank, we’re committed to helping our customers stay informed and protected. Here’s what you need to know to avoid becoming a victim of holiday scams.

Common Holiday Scams to Watch Out For

1. Non-Delivery and Non-Payment Scams

   These scams are among the most reported during the holidays. Fraudsters set up fake websites or post counterfeit listings on legitimate platforms. Victims either pay for goods that never arrive or ship items without receiving payment.

   • Tip: Always verify the legitimacy of sellers and use secure payment methods. Avoid wire transfers or prepaid cards.

2. Gift Card Fraud

   Scammers tamper with physical gift cards in stores, recording PINs and draining funds once the card is activated.

• Tip: Purchase e-gift cards directly from trusted retailers and inspect physical cards for tampering.

3. Fake Charity Appeals

   With billions donated to charities each year, scammers may create fake organizations to exploit generosity.

   • Tip: Research charities before donating. Use platforms like Charity Navigator or the IRS Tax Exempt Organization Search.

4. Social Media Shopping Scams

   Fraudulent ads on platforms like Facebook and Instagram lure shoppers with deals on high-demand items. Many victims report never receiving their purchases.

   • Tip: Avoid buying directly through social media ads. Visit the retailer’s official website and check out reviews.

5. Delivery Notification Phishing

   Scammers send fake texts or emails claiming a package is delayed or requires a fee. Clicking the link can lead to malware or stolen credentials.

   • Tip: Don’t click on unsolicited links. Track packages directly through the carrier’s official site.

6. AI-Enhanced Scams

   Cybercriminals now use generative AI to create realistic fake websites, deepfake videos, and cloned voices to impersonate brands or influencers.

   • Tip: Be skeptical of celebrity endorsements and deals that sound too good to be true. Use browser extensions to verify site authenticity.

How Cadence Bank Customers Can Protect Themselves

Practice “Cyber Hygiene”

• Use strong, unique passwords and enable multi-factor authentication.
• Keep your devices updated with the latest security patches.

Monitor Your Accounts

• Regularly monitor your Cadence Bank account and credit card statements.
• Set up transaction alerts to catch suspicious activity early.

Be Cautious with Personal Information

• Never share sensitive data via email, text or phone unless you initiated the contact.
• Be wary of unsolicited messages asking for payment or login credentials.

Report Suspicious Activity

If you suspect fraud on your account, contact Cadence Bank immediately. You can also report scams to the FBI’s Internet Crime Complaint Center (IC3) or the Federal Trade Commission (FTC). For more information and resources about fraud and cybersecurity, be sure to visit the Cadence Bank Fraud and Security Center.

Sources:
https://www.forbes.com/sites/larsdaniel/2024/12/03/fbi-warning-online-holiday-shopping-scams-could-ruin-your-2024-season
https://www.fbi.gov/how-we-can-help-you/scams-and-safety/common-frauds-and-scams/holiday-scams
https://www.yahoo.com/lifestyle/5-holiday-scams-could-wreck-174634114.html
https://www.yahoo.com/news/5-holiday-scams-aware-holiday-115424855.html

This article is provided as a free service to you and is for general informational purposes only. Cadence Bank makes no representations or warranties as to the accuracy, completeness or timeliness of the content in the article. The article is not intended to provide legal, accounting or tax advice and should not be relied upon for such purposes.