As the holiday shopping season shifts into high gear, experts are sending out a stark warning to consumers and small business owners alike: beware of increasingly clever financial scams. Stephanie Scheller, founder of Grow Disrupt, highlighted the seasonal surge in such fraudulent activities, cautioning that "More scams are going to pop up this time of year because people are strained, they’re hurried, they’re stressed out, and they tend to fall for scams more this time of year," according to a report by KSAT.
These warnings come as new tactics emerge, including a scheme where scammers, pretending to be delivery personnel, text unsuspecting victims to extract personal information or financial details, as seen in a scenario suggested by the Better Business Bureau (BBB) saying, "Hi! My name is Tony. I work for FedEx, and I'm trying to find your house. Please call me," they elaborated the scheme further warning "If the message seems a little strange to you, trust your gut. It's a scam", as reported by NASDAQ. The intensity of these scams is highlighted by recent figures from TransUnion, revealing that suspected digital fraud attempts in the United States saw a significant uptick of 12% during the Black Friday to Cyber Monday shopping period compared to the rest of the year and a stark 18% increase from the year prior.
Small businesses are not exempt from these deceptive practices. With Scheller warning that some individuals place large orders with the intent to pay using questionable methods, such as gift cards or credit cards, where the name or billing address fails to match the shipping address, Scheller advises due diligence by reaching out directly to confirm these details. "When you get something that comes in that just—if your gut goes off, just take two seconds and look at it again," Scheller told KSAT, emphasizing the importance of not acting on impulse when receiving such communication.
With the advent of these scams, protective measures are more crucial than ever, as Nigel Leblanc from Cyber Warrior Network suggests creating strong passwords, updating operating systems, and maintaining vigilance can serve as basic defenses against cyber threats. "Beware of deals that just seem like, you know, they’re too good to be true," he asserted during conversations around cyber safety, an insight shared by KSAT. The holidays cast a bright facade over sinister intentions, it's a period when the scammers' ploys shine with a deceptive luster, preying on the generosity and haste that defines our search for the perfect gift, banking on trust and good faith that should be staples of the season but are exploited by those with malintent. Another layer of defense lies in consumer education and reporting tools, the BBB offers a scam tracker to identify and report fraudulent activity, encouraging shoppers to exercise due diligence regarding personal and financial information.
