The 12 Scams of Christmas (part two)

Last week, we talked about six common scams to watch for this holiday season. Unfortunately, there are plenty more. Keep reading to learn more!

Insurance scams

Scammers don’t just want to get their hands on your money, they want your information. They use your personal information to commit fraud and identity theft. One increasingly common method is by targeting victims using medical insurance as the bait. You might be contacted by a fake government official claiming that you will lose your benefits if you don’t pay a fee or provide your information to them.

Smishing

Scammers don’t limit themselves to email and phone communications. You may find yourself on the receiving end of one of their text messages – lucky you, right? The key to these messages is to never respond to a spam text. If you do not know or expect the message, ignore it. If you receive a text from what appears to be a business communication, proceed with caution. Scammers pretend to represent legitimate entities to prompt you to react. Never click on links in any suspicious messages – or even in a message from someone you “know” that seems off. You can never be too careful.

Malware

Avoid clicking on email attachments, pop-up ads, or installing files on your device. If you notice your computer running sluggishly, producing errors and pop-ups, or redirecting websites, your device may have been infected with malware.

Ransomware

This form of malware is especially brutal in that it creates a hostage situation. Hackers may have access to private information, pictures, or your data, and they expect you to pay dearly for it. Avoid this by keeping your operating system and anti-virus tools up to date. Back up your data regularly and always use a secure network.

Mail scams

Just in time for the holidays, you receive a check in the mail! What a lovely surprise. Unfortunately, that check comes with lots of strings attached. The fraudster who sent it to you is probably going to ask you to return some of it, but to keep the rest for yourself. Don’t fall for it! That check is going to bounce, and you will be left with the full bill plus fees! Never deposit a check that you are not expecting. When in doubt, call the person or company at a known, published number to verify the funds.

Entertainment scams

We’ve all been in a parking lot and either seen someone asking for spare change or maybe busking for tips. One common scam that has gained in popularity is the false entertainer scheme. Someone plays an electric violin and encourages you to tip them. Donating is up to you, but if you choose to give, don’t use Venmo or similar P2P services. You can never be too cautious.

Have you ever dealt with any of these scams? I want to hear from you. Leave a comment below or email me.

Krista Kyte is a personal finance blogger and personal banker with over 18 years of experience in the financial industry. Krista is passionate about helping our members understand their financial situations. She writes tips that help consumers reach and maintain financial security and start living the life they’ve always wanted.